Will Zilliqa's latest stride empower ZIL to stand on its own? Assessing...
The Twitter thread also stated that the EVM compatibility will make the transfer of NFTs and fungible tokens between EVM and Scilla interfaces easier. Additionally, the upgrade also aims to improve the overall speed and scalability of the network.At the time of writing, data from the intelligence platform Santiment stated that ZIL’s social dominance witness a sharp drop. This indicated that the market wasn’t actively talking about the altcoin on the social front.
Furthermore, development activity on 21 April did witness a small spike. However, it didn’t strengthen a bullish notion. A slow-moving development activity also indicated that developers weren’t contributing enough towards the development on the chain.ZIL’s market cap too witnessed a decline after surging on 20 April. However, contrary to the aforementioned data, ZIL’s volume was much higher as compared to the beginning of April.
But a higher volume doesn’t necessarily mean higher buying of the token. It could also mean investors were in the market to sell off their holdings. So where does ZIL stand now?At the time of writing, ZIL flashed red bars and was exchanging hands at $0.0310. Furthermore, ZIL’s Relative Strength Index stood right above the neutral line at 55.60. However, the RSI did witness a steep fall from the overbought zone to land at its press time position. This was a slightly bearish signal.
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