Zilliqa, a certain kind of cryptocurrency that boasts a blockchain with an exceptionally high transaction rate, has surged today with both its value and trade volume exploded after its listings on both OKEx and Bithumb.
“Ziliqa is the fastest public blockchain in existence that has expanded its transaction rate through its own technology to improve the scalability and security issues of cryptocurrency and is able to handle 2,488tx per second,” as written by Bithumb in their announcement.
As part of its listing on Bithumb, people that have been trading or depositing it until May 16 will get 1% back on their transactions at the beginning of the following month. This will also apply to ETHOS, which is considered as the second cryptocurrency that the exchange listed.
Right after the announcement has been made, Zilliqa went up with revenge, from the value of 18 cents to a peak of 23 which has been considered as a huge 28% increase. It’s cooled down a bit since, hovering at around 20 cents, giving it a still-respectable 11% increase.
However, it’s trading volume raised up to almost five times, from roughly $153 million yesterday to over $745 million at the time of the report.
Zilliqa may have benefited greatly from these announcements, but cryptocurrency has been on a rampage since March due to its trajectory going almost vertical since May 5.
The coin has achieved its brilliant blockchain velocity due to the concept of sharding which is where Vitalik Buterin has been pondering for a while to address the current scaling issue in many infrastructures of coins.
In the current situation, Zilliqa is an ERC20 token but the team has said that this will not be the case for that long as the coins are about to go native later this year once it gets its main net platform up and going.