Binance to Support Staking of Zilliqa (ZIL) Later this Month
Binance joins KuCoin as the second major crypto exchange to support staking of ZIL.
Binance has been confirmed as the second major crypto exchange to support the staking of ZIL.
The exchange will support the feature later this month.
Staking on KuCoin will commence on the 18th of June.
Zilliqa is now available on the Bitbns exchange.
Staking on the Zilliqa mainnet is one reason the value of ZIL has continued to wow investors and traders in the crypto markets. A while back, ZIL was ranked at number 53 on Coinmarketcap.com. Checking once again, ZIL has kept moving higher and is currently ranked 36th on Coinmarketcap and 34th on CoinGecko. Below is a screenshot of ZIL’s ranking on the latter platform.
Binance to Support Staking of ZIL Later this Month
In a recent project update, the team at Zilliqa has notified the ZIL community that the prominent crypto exchange of Binance will be supporting staking later this month. They further explained that an official announcement will be made in the coming days.
…we’re thrilled to have secured world-class Tier-1 partner Binance to support the second staked seed node (SSN) service. They will announce their launch date soon, so make sure you follow their website updates.
Staking on KuCoin to Commence on June 18th
Additionally, staking on KuCoin will commence on the 18th of this month. The exchange will adopt a soft staking approach that will not force users to lock up their funds to qualify for rewards. Several snapshots of ZIL balances will be taken within a 24 hour period and rewards deposited the following day accordingly.
Further checking the daily ZIL/USDT chart, it is observed that the coin is on a parabolic trajectory with $0.02679 serving as a short term resistance and $0.02466 as ZIL’s current support zone. Trade volume is in the green as MACD and MFI show some signs of exhaustion. However, and with staking on KuCoin a week away, ZIL might have some more fuel left in the tank to break the aforementioned resistance zone at $0.02679.
As with all technical analyses of Zilliqa, traders and investors are advised to institute risk management methods and stop losses to protect trading capital.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.