ZigZag Price Skyrockets since Last Week and Plunges since Yesterday — Where Is the Price Headed?

Updated: 17 February 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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ZigZag recently rose to immense fame as a decentralized trading platform built with simplicity, reliability, security, and minimal fees in mind. Tokens like Ethereum, Tether, Chainlink, Storj, WETH, and Maker, may be bought and sold on the exchange thanks to ZK Rollups, a layer-2 solution that facilitates token trading, listing, and promotion with ease.

The project has been consistently working towards addressing two concerns that have hampered previous decentralized exchanges; namely poor order books and insufficient liquidity.

Simple swaps are unaffected by these problems, but trading with more oversized orders sometimes necessitates bridging back to mainnet Ethereum and incurring its fees in order to get the best prices and the aggregated liquidity that is accessible. ZK Rollups are a solution to this problem because they have meagre transaction fees. ZigZag hopes to amass enough liquidity so that consumers no longer need to pay Ethereum gas fees on the mainnet to be quoted for the same price.

The distributed marketplace is live on zkSync, and it will soon go live on the StarkNet exchange as well. Moreover, ZigZag is creating a native protocol token to centralize all protocol costs.

More on ZigZag’s Price

In the previous week as well this time, the value of ZigZag was $0.37. Since then, till the time of writing this article, the token has increased in value by more than 125%, and it is now worth $0.79. However, ZZ suffered a 14% loss in the preceding twenty-four hours.

The cryptocurrency market is seeing a moderate degree of pessimistic sentiment. Nonetheless, the mood about the long-term market outlook is still strong, with some crypto specialists predicting that ZZ might surpass the $5 level and reach the $7 mark in 2024.

Is It Worth Investing In ZigZag?

Your comfort level with taking risks is the single most important consideration to make before investing in ZigZag. When you look at the price chart on CoinMarketCap, you notice that the price of ZigZag has dropped by 14% over the course of the last 24 hours, but over the course of the previous week, it has spiked by more than 125%. So, everything hinges on whether or not this investment will help you achieve your trading objectives.

It is vital to bear in mind that the price of ZigZag reached its all-time high of $5.48, last year during the month of December. Keeping these things in mind, evaluating your comfort level with taking risks is advisable before investing in this coin.

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