The past three months have been a rollercoaster ride for the crypto industry. For starters, between May and August alone, the sector’s total capitalization dipped from $2.7 trillion to around $2 trillion — representing a loss of 27%.
And, while the market did get some respite eventually by forging a recovery to the $2.15 trillion (as of August 19) range, it has continued to be mired by a lot of volatility.
In fact, as a result of the constant market swings, most cryptocurrencies in the top 50 (by market cap) have incurred major losses. For example, Bitcoin ($BTC), Ethereum ($ETH), and Binance token ($BNB) have all seen their values decrease by 12%, 31%, and 16%, respectively since May.
$ZIG vs $BTC price comparison since May (source: Coingecko)
However, amidst this bloodbath, some projects have fared quite well, with one such project being Zignaly. To elaborate, the platform’s native crypto asset $ZIG has showcased immense resilience, staying in the green over the last 90-day stretch despite several prominent assets struggling majorly. To elaborate, since August 2023, $ZIG has registered a profit of ~2,400%.
This performance is not unfounded and is rooted in several major announcements and ecosystem developments. For instance, on August 13, $ZIG made its debut on HoudiniSwap, enabling holders to exchange their tokens in lieu of prominent cryptos like $SOL, $AVAX, and $USDC (at extremely competitive rates) across networks such as Base, Solana, Ethereum, amongst others.
Furthermore, as part of Zignaly’s ‘Buyback & Burn’ program, $247K worth of $ZIG was removed from the token’s total supply in July alone, bringing the total value of the tokens burned to ~$3.3m+.
ZigChain Makes a Major Splash in IstanbulÂ
Earlier this month, the ZigChain team hosted the biggest ‘side event’ at Istanbul BlockchainWeek 2024, bringing together more than 300 crypto personnel, including traders, KOLs, fund managers, and whales — allowing them to connect, network, and share their knowledge/resources with each another.
Around the same time, ZigChain announced that $ZIG had gone live on one of Turkiye’s top cryptocurrency exchanges, Bitci, thus building on the company’s FIAT expansion strategy of maximizing interoperability with local assets like the Turkish Lira.
Additionally, ZIGChain has also partnered with wallet infrastructure provider Web3auth to leverage its gasless account abstraction technology, making the ecosystem even more accessible. In fact, by partnering with the firm, ZigChain users can now facilitate their crypto transactions using just their social logins — eliminating the need to remember one’s passkeys, codes and lengthy recovery phrases completely.
Growing from Strength to Strength Every Passing Month
Since the beginning of the year, ZigChain has come together with a host of leading crypto entities, including Enjinstarter, a leading launchpad specializing in Web3 gaming, artificial intelligence (AI), and decentralized physical infrastructure networks (DePINs).
As part of the partnership, Enjinstarter integrated ZigChain into its infrastructure, thereby empowering quality projects to achieve seamless Go-to-Market transitions and successful fundraisers.
Zignaly also entered a multi-faceted partnership with Messier, where they invested a significant portion of their treasury with Zignaly’s traders. Interest from institutions, DAOs, and orgniazations bring in more volume, leading to more $ZIG buyback & burn.
Similarly, ZigChain also teamed up with evmOS (enabling Ethereum Virtual Machine (EVM) compatibility within its network) as well as formed alliances with other key blockchain players, including Leap, XSwap, and SpectreAI — further enhancing its ecosystem and providing users with high-quality crypto storage solutions, cross-chain trading opportunities, and powerful AI-driven sentiment analysis tools.
Lastly, to support its growing community of developers, ZigChain recently established a $100 million fund in partnership with DWF Labs. Therefore, in the wake of these developments, the $ZIG ecosystem seems primed to not only push forward with its current growth momentum but also maximize its clout within the burgeoning decentralized finance (DeFi) market.
