A big portion of the crypto market has shown some decent rallying over the last few days. Zilliqa (ZIL) is not any different. However, even with this short-term bullish momentum, the longer-term outlook for this token looks under par compared to its peers. Here are some highlights:
Zilliqa (ZIL) has largely shown immense volatility over the last 12 months and we expect this to continue in 2022.
At the time of writing, the token had surged by nearly 11% in 24 hours, trading at $0.05708.
ZIL still has a market cap of $705 million so there is still room to climb.
Data Source: Tradingview
Zilliqa (ZIL) – Price prediction and analysis
Zilliqa (ZIL) has been on a consistent downtrend since November last year. Although we have seen periods where the coin has rallied, the general trend has often been bearish. But we are starting to see some signs that Zilliqa (ZIL) could actually start to pair up some of the losses it has reported at the start of 2022.
The token has gained over 11% over the last 24 hours and has also seen gains of around 30% last week. It's highly unlikely though that ZIL will reclaim its all-time highs anytime soon. In fact, although we expect the token to actually grow this year, it is likely going to underperform some of its peers.
For a more detailed forecast, check out our ZIL price predictions here.
Is Zilliqa (ZIL) still a decent buy?
Due to its wild volatility, it's understandable that a lot of investors will steer clear of Zilliqa (ZIL). But do not let this fool you. This is still a very decent asset and has offered value for investors before.
It simply needs patience. Right now, ZIL is slightly out of the top 100 cryptos. But with a market cap of around $700 million, you could argue that the growth potential is still there for the long term.