$ZIG Shines as the Crypto Market Continues to Navigate the Ups and Downs
In Brief
As more people continue to gravitate toward the use of crypto-enabled tech in the near future, platforms like Zignaly are uniquely positioned to help onboard even more customers to this burgeoning realm. In this regard, its native Cosmos-based blockchain, Zigchain, is primed to unlock numerous untapped potential and scale its offerings exponentially, paving the way for seamless integrations and the mass adoption of $ZIG
Despite an extremely bullish first quarter this year, the crypto market has been on the receiving end of a lot of volatility in recent months. For instance, over the past sixty days alone, the industry’s total market capitalization has dipped from $2.9 trillion to approximately 2.36 trillion, representing a loss of over 18%. Similarly, after scaling up to an all-time high (ATH) of $73,500 in March, Bitcoin’s (BTC) price action has been all over the place, with the digital asset dipping as low as $57,000 during the first week of May.
Similar erratic price movements have also been witnessed in relation to other blue-chip cryptos, including Ethereum (ETH), which, after scaling up to a $4,000 valuation — around the same time BTC achieved its aforementioned ATH — has continued to stay rangebound between $3,600 and $2,900.
However, amid all these swings, one digital currency that has continued to showcase immense stability and strength is $ZIG, the native token of the Zignaly ecosystem — a cryptocurrency social trading platform that allows users to emulate/implement/share the strategies of expert traders with the touch of a button.
To elaborate, over the last 12 months, digital assets like Bitcoin, Ethereum, Solana, XRP, and Toncoin have accrued profits of 131%, 65%, 610%, 17%, and 270%, respectively. Meanwhile, $ZIG has been able to muster a yield of over 1,700%.
$ZIG’s value over the past year (source: Coingecko)
Understanding $ZIG’s monumental growth. Is it sustainable?
Since last year, the Zignaly team has been on a tear, announcing several partnerships, project updates, etc., helping $ZIG garner an increasing amount of mainstream traction.
Earlier in February, the firm announced the launch of Z-Score, an investing tool that evaluates traders’ performance across various metrics like profitability, risk management, service quality, and profit-to-risk balance — all while connecting them with top-performing traders as identified by the system’s native machine learning (ML) and AI algorithms.
To elaborate, Z-Score dives into a vast dataset of over 25 million past trades to identify the best traders, providing AI-backed insights into their performance. This pivotal development expands Zignaly’s focus beyond just profits, aiming to optimize decision-making and trading performance assessment. With the Z-Score, investors can make seamless investments without uncertainty simply by selecting their desired risk profile.
As can be seen from the chart above, in anticipation of the Z-Score’s launch, $ZIG’s value soared quite dramatically while also helping the platform amass a large number of new users and enabling traders to amass fresh AUMs.
Most recently, Zignaly’s native blockchain solution, Zigchain, grabbed the attention of crypto enthusiasts worldwide. This is because the firm recently announced a $100 million ecosystem development fund to help bolster its layer-1 network. Simply put, ZIGChain is the world’s first wealth generation infrastructure, bringing previously inaccessible Investment opportunities to the masses.
Lastly, the Zignaly team recently revealed that it was awarded a crypto license in South Africa — equivalent to those issued for fund managers in the traditional finance (trad-fi) arena — helping spur $ZIG’s hype even further. The token’s financial future is also strengthened by Zignaly’s fiscally prudent economic model. The centerpiece of this strategy is the firm’s bi-monthly ‘Buyback and Burn‘ program, which reduces $ZIG’s overall supply by purchasing and subsequently burning the tokens (in an effort to create scarcity and increasing demand.)
To date, over 30.3 million tokens (valued at approx. $3 million) have been permanently removed from circulation. The program offers tangible advantages, allowing $ZIG owners to become more than just stakeholders but rather direct beneficiaries of the platform’s increasing value — thereby fostering a mutually beneficial relationship that can help ensure the platform’s continued future success.
A look at the future
As more people continue to gravitate toward the use of crypto-enabled tech in the near future, platforms like Zignaly are uniquely positioned to help onboard even more customers to this burgeoning realm. In this regard, its native Cosmos-based blockchain, Zigchain, is primed to unlock numerous untapped potential and scale its offerings exponentially, paving the way for seamless integrations and the mass adoption of $ZIG. Thus, looking ahead, it will be interesting to see how things continue to shape up for the project.
Disclaimer
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
