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What Is the Elrond price prediction today
AT A GLANCE
- In 2024, Elrond price is expected to go down, hitting as low as $39.36437496312542
- 2025 promises to be turbulent, with prices ranging from $28.30449593633181 to $90.44820687253346, with PricePrediction.net predicting a breakthrough leading to a price rise to $90.44820687253346
- By 2030, EGLD price can hit $39.36437496312542
Elrond fundamental analysis
Elrond (eGold, EGLD) is a native utility token powering Elrond — a platform offering very fast transactions through the use of Adaptive State Sharding. It builds on the concepts introduced by some blockchain networks like Algorand, bringing innovative features into the mix. Elrond was founded in 2017.
Elrond’s purpose, as often is the case in the blockchain space, is to offer an optimal solution for the blockchain trilemma: providing scalability while keeping the network secure and decentralized. One of the more promising ways to achieve this is sharding, a technique first used in traditional databases. It entails splitting the database into interconnected pieces, or shards, which can be processed simultaneously, thus speeding up the work. Blockchain can utilize three types of sharding: network, transaction, and state sharding, all of which come with their challenges. Elrond uses all three types, which makes this network especially fast.
Another innovation pioneered by Elrond is the Secure Proof-of-Stake consensus mechanism (SPoS), which is an improvement on the original Proof-of-Stake. In SPoS, the block proposer node is selected randomly, making it unpredictable and therefore hard to tamper with. Also, validator nodes are chosen not only based on their stake but also taking into account their rating — a history of the node’s behavior.
Elrond coin — eGold — is used for staking, transaction fees, other payments like the smart contract fees, and is a primary medium of exchange on the platform. EGLD token holders will also be eligible to claim Elrond MEX — the token that will be distributed to the users of Maiar Exchange, a DEX that is a part of the Elrond ecosystem.
Elrond live price chart
Elrond price rose spectacularly in the first months of 2021: it was trading at ~$25 around New Year’s, but by February EGLD price has already reached ~$196. The bull run on the crypto market continued, and in April Elrond coin peaked at ~$239. After this, eGold went through a long correction with the low point of about $54 in mid-July.
As the crypto market recovered, so did eGold token price: by early September, it was trading above $180. The real pump came in the second week of September, though, as there were several important announcements at that time. The biggest of them was probably the release of the Maiar app feature that allows the purchase of EGLD with a credit card. Those developments saw Elrond token rise to a new all-time high of $294.92 and left crypto investors with high hopes about Elrond’s future price.
Elrond technical analysis
From mid-September 2021 Elrond price forecast looks very bullish. First of all, EGLD's price has managed to break through multiple resistances, notably at around $145 and $200. There might be signs of a pullback starting after September 13, so if it happens it’s worth watching whether the resistance zone at $239–$241 will become a new support line. If eGold bounces up off this line, Elrond's price predictions for 2021, at least, are probably going to be very good indeed.
The second bullish sign is a cup-and-handle pattern seemingly forming since the spring, with the handle starting in late August. This, too, can be interpreted as a hint towards the good Elrond (eGold) price predictions that are coming.
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Elrond price prediction
Elrond price predictions summary
Elrond price prediction for 2024
Elrond price prediction for 2025
Elrond price prediction for 2026
Elrond price prediction for 2027
Elrond price prediction for 2030
FAQ
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Summary
As it can be clear from the analysis cited above, Elrond (EGLD) projections are rather contradictory. There is no universal consensus either about positive or negative future EGLD price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Elrond projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
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