• Zilliqa (ZIL) just lately hit 66 million community transactions.
• Nonetheless, ZIL price was down 2.5% on the time of writing, buying and selling close to $0.024.

Zilliqa (ZIL) price has traded within the $0.021-$0.026 vary. Certainly, the draw back stress on the coin has hindered bulls for the reason that sharp decline witnessed on April 12 and 13 when ZIL price fell greater than 30% in two days.

However what’s the outlook for Zilliqa price because the community hits a key transaction milestone? Is Zilliqa 2.0 a possible catalyst for ZIL?

Right here’s a have a look at this coin’s price efficiency. 

Zilliqa just lately hit 66 million transactions

Zilliqa is among the crypto tasks with largest communities round it.

The undertaking has reached almost 5 million addresses and on Might 28, Zilliqa shared a publish on X indicating community transactions had surpassed 66 million.

Knowledge additionally confirmed near 110,000 delegators and over 5 million in whole staked ZIL, which represents 29% of the full circulating provide. Zilliqa is recording these optimistic metrics forward of Zilliqa 2.0, an improve aimed toward enhancing community scalability, safety and interoperability.

A brand new model of Zilliqa won’t solely streamline transactions through state sharding, but additionally result in larger EVM compatibility, native account abstraction, sensible accounts and improved developer instruments.

ZIL price outlook

Zilliqa price is down 2.5% up to now 24 hours and flat up to now 30 days as bulls battle for momentum.

ZIL at present trades at $0.024 throughout main crypto exchanges, with these ranges indicating an unimpressive 2.9% upside up to now yr.

A have a look at ZIL price on the weekly chart reveals weak spot regardless of a inexperienced candle shut this previous week. Patrons are additionally prone to goal a optimistic return this week, however with the RSI and MACD suggesting a bearish course, its attainable Zilliqa might retreat to lows of $0.022.

Nonetheless, if price breaks greater alongside positive factors for Bitcoin and the large cap altcoins, ZIL might goal $0.034 and $0.039 as the subsequent main hurdles.

Notably, Bitcoin and Ethereum are additionally struggling amid broader crypto draw back.