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 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.
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.
Below we have collected the most reliable price projections for Elrond (EGLD) from popular forecast platforms.
According to WalletInvestor, Elrond price will grow from $202.65 to $386.030 in one year. That makes EGLD an awesome investment. The long-term earning potential is 90.49%. Predicted price for the end of 2026 is $1076.070.
Answering the question about if Elrond is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $194.805 with a growth to $229.561 by the end of 2022.
In DigitalCoin analysis, the price of Elrond cryptocurrency will rise in the next 5 years starting from $206.402 as of today’s price to $710.4607845. It will go up to $341.3824146 by 2022 and continue its growth in 2023–2024. Based on this forecast, Elrond is a profitable long-term investment.
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).
Yes, you should invest in Elrond (EGLD) cryptocurrency if you want to diversify your portfolio and aren’t afraid to take risks. Most of the Elrond crypto predictions are very good, promising growth for this coin. Note that there are some Elrond (EGLD) price predictions that are less than optimistic, although most of those agree that even if it loses some value, it won’t be a catastrophic loss.
There is a sudden hike in the Elrond coin (EGLD) price because of several important developments around the project. The most important one is the new functionality in the Maiar app (Elrond-issued wallet and money app), allowing its users to buy EGLD directly with fiat currency from their credit card. This lowers the barrier for adoption, allowing more users to enter the ecosystem and driving Elrond’s price up.
Yes, Elrond is worth it, in many analysts’ opinions. An investment in Elrond may be better looked at as a way to back one of the technologies facilitating crypto adoption. It probably won’t get to the ETH level since Ethereum’s ecosystem is one of the most interconnected in the crypto space and ETH is used in many places. However, Elrond Gold price predictions are still mostly pretty good.
Elrond coin is a principal currency and utility token of the Elrond platform, one of the fastest and most easily scalable blockchains. Elrond coin has a limited supply and is easy to purchase with a credit card, which has been driving its value lately. Its prospects are also good, with many Elrond price predictions for 2022 putting it in the $320-$370 range (compare to its price today, which is ~$260).
Yes, the eGold (EGLD) coin is a good investment, according to several experts. The expectations for the long term, like in the Elrond (EGLD) price predictions for 2025, are that this coin will reach $750-$900 by this 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 break $400 that year, which is great too if the wait until 2025 seems too long.
Both Elrond (EGLD) and Solana (SOL) are great bets which are thriving in the current market. They both strive to solve the blockchain trilemma, although their approaches differ. Both of them seem to be doing it pretty successfully: Solana and Elrond’s crypto price predictions set expectations high. In fact, if you believe in spreading crypto adoption, it’s probably best to support both, as a way to hedge your bets.
You can buy Elrond Gold on Elrond’s own Maiar app using a credit card. Elrond can also be traded for another crypto on most major crypto exchanges. For those preferring non-custodial instant trades, SwapSpace will also work well.
EGLD is a token on the Elrond network — a fast and scalable blockchain. EGLD is used for staking, transaction fees, and other payments within Elrond. It ranks at #32 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 considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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