This is the last support line. If $ZIL breaks again, we’ll see a new low.
Current price: 0.001197, down 13.95% in 24 hours, just about 3% above the 24-hour low of 0.001162 and down about 15% from the high of 0.001404.
The broader market hasn’t fallen nearly as hard: $BTC 64,858 (-1.11%), $ETH 1,815.56 (-1.45%), and SOL at 71.37 (-2.23%). $ZIL is down about 13 percentage points more than the broader market.
Why it’s falling: Upbit will end trading for ZIL/KRW and ZIL/BTC tomorrow, November 16, at 14:00 CST. Upbit accounts for about 40% of ZIL trading volume. On October 16, the day the delisting notice was issued, ZIL fell 24.3%. From the October 15 close of 0.003307 to today’s low of 0.001175, it has fallen about 64.5%.
Fund flows: Binance perpetual futures have about $10.03 million in 24-hour volume, just over the $10 million threshold; open interest is about $2.89 million; the funding rate is -0.033%/8h, meaning shorts are paying; the next settlement is at 04:00 CST.
Risks: Market cap is only about $23.55 million, and liquidity may thin further after delisting. Upbit holders must withdraw their tokens by December 16. It’s already down about 54% in 30 days, and continued declines can mean fewer buyers stepping in.
What to watch next: Whether the 0.001162 low holds, the Upbit delisting at 14:00 tomorrow, and the funding rate and open interest after the 04:00 settlement.
At this level, are you betting on the low holding and a rebound, or on a breakdown and further declines?
For informational purposes only; this is not investment advice.
Current price: 0.001197, down 13.95% in 24 hours, just about 3% above the 24-hour low of 0.001162 and down about 15% from the high of 0.001404.
The broader market hasn’t fallen nearly as hard: $BTC 64,858 (-1.11%), $ETH 1,815.56 (-1.45%), and SOL at 71.37 (-2.23%). $ZIL is down about 13 percentage points more than the broader market.
Why it’s falling: Upbit will end trading for ZIL/KRW and ZIL/BTC tomorrow, November 16, at 14:00 CST. Upbit accounts for about 40% of ZIL trading volume. On October 16, the day the delisting notice was issued, ZIL fell 24.3%. From the October 15 close of 0.003307 to today’s low of 0.001175, it has fallen about 64.5%.
Fund flows: Binance perpetual futures have about $10.03 million in 24-hour volume, just over the $10 million threshold; open interest is about $2.89 million; the funding rate is -0.033%/8h, meaning shorts are paying; the next settlement is at 04:00 CST.
Risks: Market cap is only about $23.55 million, and liquidity may thin further after delisting. Upbit holders must withdraw their tokens by December 16. It’s already down about 54% in 30 days, and continued declines can mean fewer buyers stepping in.
What to watch next: Whether the 0.001162 low holds, the Upbit delisting at 14:00 tomorrow, and the funding rate and open interest after the 04:00 settlement.
At this level, are you betting on the low holding and a rebound, or on a breakdown and further declines?
For informational purposes only; this is not investment advice.
