Elrond (eGold, EGLD) is a native utility token that powers Elrond – a platform that offers very fast transactions through the use of Adaptive State Sharding. It builds on the concepts introduced by some blockchain networks like Algorand and brings innovative features to the mix. Elrond was founded in 2017.
As is so often the case in the blockchain area, Elrond’s purpose is to offer an optimal solution for the blockchain trilemma: to provide scalability while at the same time keeping the network secure and decentralized. One of the more promising ways to achieve this is through sharding, a technique that was first used in traditional databases. The database is divided into interconnected parts or shards that can be processed at the same time, which speeds up work. Blockchain can use three types of sharding: network, transactional, and state sharding, all of which have their challenges. Elrond uses all three types, which makes this network particularly fast.
Another innovation from Elrond is the secure proof-of-stake consensus mechanism (SPoS), which is an improvement on the original proof-of-stake. In SPoS, the block suggestion node is chosen at random, which makes it unpredictable and therefore difficult to manipulate. In addition, validation nodes are selected not only on the basis of their use, but also taking into account their evaluation – a history of the behavior of the node.
Elrond Coin – eGold – is used for staking, transaction fees, and other payments like the smart contract fees, and is a primary medium of exchange on the platform. EGLD token holders are also eligible to claim Elrond MEX – the token distributed to users of Maiar Exchange, a DEX that is part of the Elrond ecosystem.
The Elrond price rose spectacularly in the first few months of 2021: it was trading at ~ $ 25 around New Year’s Eve, but by February the EGLD price had already hit ~ $ 196. The bull run in the crypto market continued and in April the Elrond coin peaked at ~ $ 239. After that, eGold went through a long correction, bottoming around $ 54 in mid-July.
As the crypto market recovered, the eGold token price also recovered: in early September it was trading above $ 180. The real pump came in the second week of September, however, as there were several important announcements at the time. Probably the biggest of these was the release of the Maiar app feature, which allows EGLD to be purchased with a credit card. These developments drove the Elrond token to a new all-time high of $ 294.92 and left crypto investors with high hopes for the future price of Elrond.
From mid-September 2021, the Elrond price forecast looks very bullish. First off, the price of EGLD managed to break through several resistances, particularly at around $ 145 and $ 200. There could be signs of a pullback starting after September 13th. So when it happens, it will be worth watching to see if the resistance zone at $ 239-241 becomes a new support line. If eGold bounces off that line, Elrond’s price predictions are likely to be very good, at least for 2021.
The second bullish sign is a cup-and-grip pattern that has apparently been forming since spring, with the grip beginning in late August. This can also be interpreted as an indication of the good Elrond (eGold) price forecasts to come.
Below we have compiled the most reliable price predictions for Elrond (EGLD) from popular forecasting platforms.
According to WalletInvestor, the Elrond price will rise from $ 202.65 to $ 386.030 in one year. That makes EGLD a great investment. The long-term earning potential is 90.49%. The projected price for the end of 2026 is $ 1,076,070.
When asked if Elrond is a good investment, TradingBeasts answered a resounding no. Looking ahead to 2021, this coin price is projected to hit $ 194.805 and rise to $ 229.561 by the end of 2022.
In the DigitalCoin analysis, the price of the Elrond cryptocurrency will increase from $ 206.402 at today’s price to $ 710.4607845 over the next 5 years. It will rise to $ 341.3824146 by 2022 and will continue to grow in 2023-2024. Based on this forecast, Elrond is a profitable long-term investment.
As can be seen from the analysis cited above, Elrond’s (EGLD) projections are quite contradictory. There is no universal consensus on positive or negative future EGLD price movements. In fact, the future possible growth depends on various factors: announcements, new technological solutions of the Elrond projects, the crypto environment in general, legal situation and so on. We kindly remind you that it is essential to do your own research (DYOR) before investing in a cryptocurrency.
Yes, you should invest in Elrond (EGLD) cryptocurrency if you want to diversify your portfolio and are not afraid to take risks. Most of Elrond’s crypto predictions are very good and promise growth for this coin. Note that there are some Elrond (EGLD) price projections that are less than optimistic, although most of them agree that even if it depreciates, it won’t be a catastrophic loss.
There has been a sudden spike in the price of the Elrond Coin (EGLD) due to several important developments surrounding the project. The most important is the new functionality in the Maiar app (wallet and money app published by Elrond), which enables its users to purchase EGLD directly from their credit card using fiat currency. This lowers the acceptance barrier, allows more users to access the ecosystem, and drives up the price of Elrond.
Yes, Elrond is worth it, according to many analysts. An investment in Elrond can better be viewed as a way to support one of the technologies that will facilitate the adoption of cryptocurrencies. It probably won’t get to the ETH level as the Ethereum ecosystem is one of the most interconnected in the crypto space and ETH is used in many places. However, for the most part, Elrond Gold’s price predictions are still pretty good.
Elrond Coin is a major currency and utility token of the Elrond platform, one of the fastest and easiest to scale blockchains. Elrond coins have limited supply and are easy to purchase with a credit card, which has increased their value recently. The outlook is good too, with many Elrond price predictions for 2022 putting it in the $ 320-370 range (compare today’s price of ~ $ 260).
Yes, according to several experts, the eGold (EGLD) Coin is a good investment. Long-term expectations, as in Elrond’s (EGLD) price predictions for 2025, assume that this coin will reach USD 750-900 by that time. Compared to the Elrond price in mid-September 2021, which is ~ $ 260, this is amazing potential. Some Elrond price predictions for 2023 say it will cross the $ 400 mark this year, which is also great if the wait until 2025 seems too long.
Both Elrond (EGLD) and Solana (SOL) are great bets that thrive in the current market. Both strive to solve the blockchain trilemma, although their approaches differ. Both seem to be doing it pretty successfully: Solana and Elrond’s crypto price predictions set expectations high. If you believe in the proliferation of cryptocurrencies, it is probably best to support both to hedge your bets.
You can purchase Elrond Gold in Elrond’s own Maiar app with a credit card. Elrond can also be traded for another crypto on most major crypto exchanges. For those who prefer instant trades with no custody, SwapSpace will work just fine too.
EGLD is a token in the Elrond network – a fast and scalable blockchain. EGLD is used for staking out, transaction fees and other payments within Elrond. It ranks 32nd by market cap and is also a strong investment, with most Elrond coin price predictions expecting it to keep growing.
Disclaimer: This article should not be viewed as a trading recommendation. The cryptocurrency market suffers from high volatility and the occasional random movement. Every investor should research multiple viewpoints and familiarize themselves with all local regulations before committing to an investment.
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