There has been a lot of interest in Zilliqa ZIL/USD, Polkadot DOT/USD, and Chainlink LINK/USD, due to the fact that they are all offering solutions to some of the biggest scaling issues found in the most popular blockchains out there. That being the case, is this interest warranted, and do they have a future?
To get a better perspective on this, we’ll be analyzing each of them.
Should you buy Zilliqa?
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Zilliqa on June 2 traded at $0.127. It started off May 2 with a value of $0.204. This means it has lost 37 over a short period of time. But Zilliqa is actually higher by 60% since the start of 2021.
Zilliqa is the first blockchain that implemented sharding, which allowed for linear scaling as the blockchain grew in size. The network’s design enables it to handle large, international value transfers as well as microtransactions, which did not scale easily on other blockchains. Developers want to rely on this network that can scale per requirement and isn’t affected in terms of speed by an increased dApp usage and development.
In April, they announced an NFT collector package with boxer Terence Crawford, and in May, they joined forces with National Gallery SG’s Art x Tech Incubator Y-lab to help artists drive the new NFT revolution.
Given the fact that since the beginning of the year the value has gone up more than half, it might be a wise idea to consider an opportunity here as the momentum should continue the price of ZIL has the potential to increase to over $0.5 by the end of the year, assuming the developments and software upgrades deliver on the rising demand.
This is due to the fact that the project has seen exponential community expansion, a high level of liquidity, and technical advancements.
Should you buy Polkadot?
Polkadot on June 2 has a price of $24.28. It started off May 2 with a value of $36.34, which tells us that it has since lost around 33%.
However, Polkadot started off January with a value of $8.36, and that means that it increased by 190% in value.
We can see that there is interest in Polkadot even with the recent decrease in value, and at around $24 it might be a good option to buy.
In fact, Master Ventures recently launched a $30 million Polkadot fund. Polkadot and Kusama plan to auction off 50 slots for second-layer chains, and bidders need to hold DOT or KSM depending on which protocol they want to use, which has the potential of raising its value over $50 within the span of three to four months.
Should you buy Chainlink?
Chainlink on June 2 traded at $30.75. It started off May 2 with a value of $39.50. We can see a decrease of 22% in value.
It started off January with a value of $11.87, which means that it increased in value by 159%.
Chainlink has had its ups and downs but seems to have found support around the $30 mark, so getting it at that price point could be a reliable option.
Chainlink introduced Chainlink 2.0 in mid-April, which laid out the foundation for the adoption of Hybrid Smart Contracts. This expanding suite of decentralized services is fueling innovation and provides developers with price feeds, Verifiable Random Functions, proof of reserve, and external adapters.
This implementation of real-world data to Ethereum has the potential of bringing new applications to its smart contracts. The increased scalability will lead to higher affordability.
There is currently no limit on the value Chainlink can provide to this future use-case, and as long as there’s new data being generated and a need for growth, Chainlink will carry on adding value and could potentially get to over $40 within the span of a month and retest its highs above $50 before the end of the year.
The market ahead
Each of these technologies brings its own innovation to the table, and as the market progresses, we will see them being used in real-case scenarios a lot more. Their reliability and appeal will be what ultimately decides their value, and it is up to you to decide which option suits your specific beliefs the most.
You can get Zilliqa, Polkadot, or Chalink based on this analysis roundup, but it is highly advisable that you do further research yourself as well so you know exactly what you are getting into.
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