Elrond Crypto: A Smart Investment Decision?

Elrond (EGLD) is a blockchain that can process a high volume of transactions with speed and security. It was founded by Romanian brothers Beniamin and Lucian Mincu, and Lucian Todea. Elrond's native token, EGLD, is used to earn rewards for adding blocks to the blockchain and can be bought, sold, and traded on exchanges. In 2020, Elrond was the best-performing cryptocurrency and DeFi project. Since then, its value has fluctuated, and it is now known as MultiversX. As of September 2024, MultiversX (EGLD) is trading at $28.60 with a market capitalization of $783,817,003. The outlook for MultiversX (EGLD) is positive, with price predictions estimating a peak price of approximately $285 by 2030. However, it is important to remember that cryptocurrency markets are extremely volatile, and price predictions often turn out to be wrong.

Elrond's price history and future predictions

Elrond (EGLD) entered the crypto space in 2020 with a strong focus on security and scalability. It has since undergone a rebrand to MultiversX (MVX).

Price History

Elrond's native token, EGLD, launched in July 2019 with a successful ICO, raising $5.15 million on its first day. After hitting a low of $6.54 in 2020, the token gradually gained momentum and reached a peak of $238 in April 2021. A significant rally later that year pushed EGLD to its all-time high of $542.58. However, the following months witnessed a price correction, with the token touching a low of $22 in September 2023.

2024 began with a price recovery for MultiversX (EGLD), surpassing the $50 mark. However, after reaching a high of $75 in March, the token faced bearish pressure and declined to its long-term support level of $22. As of September 2024, EGLD trades at around $28.60 with a market capitalization of $783,817,003.

Future Predictions

Despite the recent volatility, some sources remain optimistic about the future of MultiversX (EGLD). Here are some price predictions for the short and long term:

• By the end of 2024, the price of EGLD could reach a high of $39.22, with an average estimated value of $30.21.
• In 2025, EGLD could reach a 52-week high of $77.80, with an average price of around $54.07.
• In 2026, the token's price could range from $59.54 to $121.84, with an average of $90.69.
• For 2027, the average price is predicted to be $119.75, with a potential high of $158.64.
• In 2028, the average price may be $157.94, with a maximum price of around $188.91.
• By 2029, the EGLD token is expected to reach a maximum price of $287.73 and an average of around $238.75.
• By 2030, the MultiversX (EGLD) price prediction estimates a peak price of approximately $285, with an average value of around $310.39.

Elrond's unique selling points

Elrond is a blockchain that can process a high volume of transactions at speed, specifically designed for the internet-scale. It uses a process called sharding to achieve this high level of scalability. Elrond's smart contracts platform can process 15,000 transactions per second, with a six-second latency, and a $0.001 transaction cost. This is achieved by splitting the network into four shards, three of which are execution shards capable of 5,400 transactions per second each, while the fourth is a coordination shard called the "Metachain".

Elrond's blockchain is decentralised, scalable, and secure. It uses a secure proof-of-stake (PoS) system, which allows people to build their own apps and create their own tokens. It also allows the use of smart contracts, which are computer programs that automatically execute once certain conditions are met.

Elrond's native cryptocurrency is called eGold or EGLD. The Elrond coin provides network fees, staking, and rewarding validators. The eGLD token has five use cases: buying and trading; staking and delegation; governance and voting; utility and payments; and liquidity provision.

• Fast transaction speeds
• High-level scalability
• Security
• Low transaction fees
• A strong, loyal community
• A dedicated, skilled, and transparent team

Elrond's rebrand to MultiversX

Elrond's decision to rebrand itself as MultiversX reflects the company's strategic shift towards exploring the potential of the metaverse. This move is more than just a change in name and branding; it signifies Elrond's ambition to expand its horizons and embrace the emerging opportunities presented by this new virtual frontier.

The metaverse has captured the imagination of both individuals and industries, and Elrond, now MultiversX, aims to be at the forefront of this revolution. The company has introduced three innovative products that serve as the pillars of this new brand identity: xFabric, xPortal, and xWorlds. Each of these tools has been meticulously designed to empower metaverse creators and users alike.

XFabric is a versatile and user-friendly blockchain solution. It can be tailored to meet the unique needs of any creative, brand, or company, and it can be deployed in a matter of minutes. This modularity and customisability are key to helping users easily adopt blockchain technology and explore the metaverse.

XPortal, on the other hand, serves as a gateway to the metaverse. This comprehensive SuperApp is packed with features that include an avatar home, finance options, debit cards, and social and chat functionalities. xPortal is accessible worldwide, breaking down barriers and inviting everyone to step into the metaverse.

The third pillar, xWorlds, is a collaborative platform that empowers users to create and explore interoperable metaverses. Developed in partnership with Improbable, xWorlds seamlessly integrates with xPortal and xFabric, enhancing the overall metaverse experience.

The rebrand to MultiversX is more than just a name change; it represents a fundamental shift in Elrond's focus and strategy. By embracing the metaverse, the company is not only expanding its technical capabilities but also striving to create a more inclusive and accessible digital future. This evolution demonstrates Elrond's commitment to staying agile and responsive to the dynamic nature of the blockchain and Web3 spaces.

While the name may have changed, the foundation laid by the Elrond Network remains solid. MultiversX intends to build upon the existing community, technologies, and ecosystem that Elrond has cultivated. This includes the successful launch of the EGLD token, which raised $5.15 million on its first day in July 2019. Despite market fluctuations, the token has shown resilience, and analysts predict potential growth in the coming years.

Elrond's native token, eGLD

The eGLD token has five use cases: buying, trading, staking, governance, and value storage. As of July 2023, the token price was around $32, with a market capitalization of $783,817,003 and a circulating supply of 26.99 million EGLD tokens.

One of the unique features of Elrond is its focus on security and scalability. Elrond's network is built to resist known security problems like the Sybil attack, and its smart contracts platform can achieve 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. This makes Elrond an attractive platform for developers, as it provides high-level scalability, interoperability, and high throughput.

The Elrond team has also consistently hit roadmap deadlines, building trust and loyalty from their followers. In addition, the rebranding to MultiversX in November 2022 has brought new products and features that have further enhanced the Elrond ecosystem.

When considering investing in EGLD, it is important to remember that cryptocurrency markets are extremely volatile, and price predictions often turn out to be wrong. It is crucial to do your own research, assess your risk tolerance, and never invest more money than you can afford to lose.

Elrond's founding team

Elrond was founded in 2017 by Lucian Todea, Beniamin Mincu, and Lucian Mincu. The founding team brings a wealth of experience in the tech and blockchain industries.

Beniamin and Lucian Mincu are brothers and serial entrepreneurs with a background in digital asset investment. Prior to founding Elrond, they co-founded MetaChain Capital, a digital asset investment fund, with Beniamin serving as CEO and Lucian as CTO. They also co-founded ICO Market Data, an aggregator of information around initial coin offerings. Beniamin Mincu was also involved in blockchain platform NEM from 2014 to 2015 and was an early investor in projects such as Zilliqa, Tezos, Brave, and Binance.

Lucian Todea is a serial tech entrepreneur who previously founded and served as CEO of Soft32, a software review and download site. He was also a partner at mobilPay, a mobile payments application. Lucian Todea is an active angel investor, having invested in biometrics tech company TypingDNA and accounting platform SmartBill.

In June 2019, Elrond raised $1.9 million in a private investment round from several angel investors. This was followed by an Initial Exchange Offering (IEO) that raised $3.25 million in exchange for 25% of its total token supply. Elrond's native cryptocurrency, the EGLD coin, was launched in July 2019 with a successful ICO, raising $5.15 million on its first day. The project has continued to gain momentum, with its mainnet launch in July 2020 and a growing ecosystem of decentralized applications and cryptocurrencies.

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