Version 2.0 was launched with full support for EVM and PoS.
Maintained
At a key Fibonacci level amidst bearish market trends.
Enterprises are looking towards integration with DeFi projects and fintech.
Zilliqa, a previously successful blockchain project known for its early use of sharding, has officially launched version 2.0 of its network, representing a significant step towards enterprise-level infrastructure and compatibility with EVM.
This comprehensive update to the protocol brings numerous technical upgrades and lays the foundation for a new era of adoption, seeking to regain its importance in a rapidly evolving blockchain landscape.
With Zilliqa now trading at less than 95% of its all-time high, investors are questioning whether this upgrade will lead to a sustainable price recovery.
Zilliqa 2.0 provides full support for EVM and enterprise features.
The transition to Zilliqa 2.0 is more than just a formal upgrade; this update represents a complete overhaul of the protocol designed to address long-standing limitations and open new avenues for usage.
With the integration of Ethereum Virtual Machine (EVM) compatibility, developers can now deploy Ethereum-specific smart contracts and decentralized applications (dApps) on Zilliqa with minimal code changes.
This significant update enables network compatibility with the broader Ethereum ecosystem, greatly expanding its utility and appeal.
In addition to supporting the Ethereum Virtual Machine (EVM), Zilliqa 2.0 offers a new proof-of-stake consensus mechanism to replace the original proof-of-work design, aimed at enhancing scalability, energy efficiency, and decentralization.
The modular architecture now enables shard customization, cross-chain communication, and simplified client support, all designed for enterprise-level performance and flexibility.
Developers and enterprises are reconsidering Zilliqa
The renewed network has attracted significant interest from fintech and DeFi projects, with early integrations like LTIN and deB,ridge paving the way for tokenized assets and organized liquidity flows.
De,Bri,dge, in particular, plans to bring native USDC to Zilliqa, marking a significant milestone in its pursuit of cross-chain liquidity and institutional significance.
Furthermore, the updated staking mechanisms aim to simplify the onboarding process for validators with a reward for early transition from version 1.0, in an effort to quickly funnel liquidity into the upgraded network.
According to Zilliqa's interim CEO, Alexander Zand, the platform's new direction is built on trust and technical excellence rather than hype, with a roadmap that includes privacy-preserving features, digital identity tools, and smart accounts.
These long-term improvements aim to protect the protocol from future risks and ensure its ability to serve both compliance-focused enterprises and the wider cryptocurrency developer community.
ZIL struggles to maintain key support amid weak prices.
Despite ongoing downward pressure in the broader cryptocurrency market, Zilliqa's native ZIL token has recently shown signs of technical resilience around key Fibonacci levels.
According to cryptocurrency analyst Emilio Bojan, ZIL has clearly bounced from the Fibonacci retracement level of 0.618 at $0.01042, and is now stabilizing above the 0.5 area, indicating that buyers are heading towards critical support.
This technical situation has led to cautious optimism among traders who are now looking for a short-term move towards the $0.01129 level, which still represents the next immediate resistance.
Despite the currency's price dropping over 40% in the past year and about 17% in the past month, recent rallies suggest that the coin may be trying to find its lows, especially as its fundamentals undergo significant shifts.
Zilliqa Price Forecast
At the time of writing, Zilliqa was trading at $0.01063, down 2.2% over the past 24 hours, with a trading volume of $9.88 million, a decline of 1.5% from the previous day, indicating a slowdown in momentum.
The circulating supply is just over 19.5 billion tokens, with a total market cap of $21 billion, giving it a market value of approximately $207.6 million, placing it at rank 268.
ZIL is still over 95% below its all-time high of $0.2554 reached in May 2021, and up 345% from its all-time low of $0.002396 recorded in March 2020, underscoring its potential for volatility and recovery if sentiment improves.
Although the network upgrade is fundamentally positive, traders are likely to remain cautious in the short term until price movements confirm a reversal supported by stronger trading volume and sustained interest.
However, the structural improvements brought by Zilliqa 2.0 may ultimately pave the way for a long-term recovery if they translate into real growth in user numbers and ecosystem appeal.
Transition