Zilliqa price is now up 120% on the month thanks to the aggressive marketing campaign

Zilliqa price is now up 120% on the month thanks to the aggressive marketing campaign
  • Binance lists ZIL/BUSD on its exchange, while Buterin also acknowledges Zilliqa’s progress
  • TheStreet article calls Zilliqa the “cryptocurrency of the week"
  • Zilliqa price hits a 10-month high, gains 120% on the month

Zilliqa (ZIL) price has skyrocketed in the past few weeks on a series of positive developments surrounding the Singapore-based blockchain platform, including a listing of a ZIL/BUSD trading pair on Binance.

Fundamental analysis: Buterin’s acknowledgment, Binance listing and more

At the end of the last week, the crypto exchange Binance announced it would be listing a ZIL/BUSD trading pair on Friday, May 22. Moreover, the co-founder of Ethereum, Vitalik Buterin, mentioned the Singapore-based blockchain platform as a very promising project. 

Moments later, he followed up with another tweet.

Whether Buterin was sarcastic or no, we don’t really know. However, the Zilliqa price enjoyed a surge in attention, for sure. The platform has been attempting to attract more attention lately with the SocialPay campaign. It dedicated around $3,500 in rewards for Twitter users who discussed the services of the platform.

It looked like the social campaign worked as Zilliqa topped the real-time list of top 5 most-discussed altcoins. In addition, the platform says that more than 80,000 tweets were recorded during the 3-day campaign, alongside engagements from 35 million Twitter users. 

This is not the first Zilliqa embarked on the campaign like this one, as it partnered with Binance US to reward users for watching educational videos about the Zilliqa blockchain.

Furthermore, an article about Zilliqa’s recent progress and success has been published on TheStreet, attracting additional attention and calling the platform the “cryptocurrency of the week”.

“With everyone locked up at home, this easy way to make pocket money proved immensely popular. Not only that, but the tactic is actually very powerful for spreading awareness of Zilliqa, and for making a programming language for developers called Scilla more widespread,” the article notes.

Technical analysis: Price closing in on the 1-year high

Zilliqa is one of the best-performing altcoins recently. This altcoin has gained around 120% in May to hit the levels above $0.014 for the first time since July last year. Since then, the price action has pulled back as the buyers are now fighting to force a close above the $0.012 mark.

Zilliqa weekly chart (TradingView)

A monthly close above this level would open the door for a more robust attack on the $0.014 – $0.015 resistance area. A break of this resistance area would offer an opportunity for new buyers to ride the trend and aim for $0.018.

Summary

Zilliqa has attracted significant attention lately on the back of the aggressive marketing campaign. The platform promised to pay Twitter users who discuss Zilliqa services in a 3-day campaign that has yielded exceptional results judging from the data. In the meantime, Zilliqa price hit the new 10-month high above $0.014.

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.
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