Is Zilliqa a good buy opportunity in August 2021?

Zilliqa ZIL/USD has advanced from $0.08 above $0.11 since the beginning of August, and the current price stands around $0.10. As the Zilliqa ecosystem continues to grow, Zilliqa announced that it had selected Singapore-based crypto custody service Onchain Custodian to secure its network’s assets.

Fundamental analysis: Zilliqa has selected crypto custody service Onchain Custodian to secure its network’s assets

The cryptocurrency market continues to perform well in the second trading week of August 2021, Bitcoin went above $48000, and this situation also supports the price of Zilliqa. If this positive trend continues, Zilliqa could stabilize again above $0.15 resistance.

Zilliqa is a scalable and secure platform for developers who want to build decentralized applications while allowing them to launch smart contracts using the blockchain’s own programming language, Scilla. Zilliqa is the world’s first public blockchain built entirely on a sharded architecture, and as the Zilliqa ecosystem continues to grow, the priority of this project was to secure its network’s assets.

Zilliqa diverges from Bitcoin because everything goes much quicker on this network, and with a team of industry experts, the main goal of this project is to transform digital infrastructure across all global communities and industries. This month Zilliqa has announced that it has chosen Singapore-based crypto custody service Onchain Custodian to secure its network’s assets.

“As the Zilliqa ecosystem continues to grow, so must our repertoire of security and compliance solutions to ensure that partners, investors, and token holders can safely leverage the benefits of our network,” said Amrit Kumar, President and Chief Scientific Officer of Zilliqa.

Last month, Zilliqa announced that it would start to work with Binance to bring the BUSD stablecoin into its network. Zilliqa has experienced tremendous growth in its user activity this year, and the main question among investors is whether the ZIL is undervalued at the current price.

Fundamentally looking, Zilliqa is a truly unique project with big potential that can scale to meet the needs of a growing ecosystem in the best possible way. Technically looking, Zilliqa continues to trade in a buy zone, and for now, there is no risk of the trend reversal.

Technical analysis: Zilliqa continues to trade in a buy zone

Data source: tradingview.com

Zilliqa currently trades around the $0.10 level, and it would be a strong buy signal if the price jumps above $0.15 resistance. The next price target could be around $0.18 or even above; still, if the price falls below $0.08, we have the open way to $0.06.

Summary

Zilliqa has advanced from $0.08 above $0.11 since the beginning of August, and for now, there is no risk of the trend reversal. As the Zilliqa ecosystem continues to grow, Zilliqa announced that it had selected Singapore-based crypto custody service Onchain Custodian to secure its network’s assets.

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