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Zilliqa (ZIL) price has further continued its impressive bullish run since December as it now trades over 1,000% higher since the beginning of the last month in 2020.
Fundamental analysis: Zilliqa Capital is officially launched
Blockchain investment firm Zilliqa Capital has announced the launch of a central business and investment hub for its blockchain platform Zilliqa.
The Singapore-based company said it will make a strategic investment in its native token ZIL, according to its statement. It also said it will back other Zilliqa-related and unrelated businesses. Zilliqa is a popular public blockchain platform known for its sharding solution to protect decentralization and ensure larger scalability.
The crypto investment company said it intends to operate as a “permanent capital and ecosystem-focused investment company” and support decentralized and fintech solutions that operate under sectors like investing, wealth management, insurance, lending, payments, and remittances, and infrastructures that will enable Web 3.0.
Senior strategist and investor Michael Conn will be the firm’s chairman, chief executive, and co-chief investment officer. Before joining Zilliqa Capital, Conn held executive positions at AllianceBernstein, Société Générale, Trust Company of the West, AsiaVest Partners, and Quail Creek Ventures.
Co-founder, president, and CSO of Zilliqa Research blockchain Amrit Kumar will also be Zilliqa Capital’s co-chief investment officer and executive.
“At Zilliqa Capital, we are firm believers in the long-term, life-changing potential of blockchain technology, reflected in our support for promising projects striving to serve the unbanked and underbanked across Southeast Asia and India,” said Kumar.
Technical analysis: ZIL continues higher
ZIL price has gained about 8% today to keep its push higher still alive. Yesterday, the price action closed 6.35% in the red after soaring to post the fresh all-time high at $0.1963. On a monthly basis, the digital asset is up 65% to continue its impressive monthly streak alive.
As seen in the chart, the price action has pulled back to a nearby support line at $0.16 today with crypto investors quickly buying ZIL to push the price action towards $0.18. The next target on the upside is $0.2080, which marks the 127.2% Fibonacci extension line.
Zilliqa Capital has announced its official launch today. The company will invest in Zilliqa’s native token “ZIL” as a strategic asset and make selective investments into Zilliqa and relevant non-Zilliqa based businesses.
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