Elrond (EGLD) Price Set to Sky-Rocket After Staking Pool Move on Binance

Elrond (EGLD) Price Set to Sky-Rocket After Staking Pool Move on Binance
  • The asset may break over the $283 barrier.
  • It just established a partnership with Woodstock Fund.

The global crypto market cap has reached a new ATH of $2.67 trillion. While Bitcoin and Ethereum are stealing the show with 3.70 and 9.75 percent increases in 24 hours, popular cryptocurrency Elrond has emerged to challenge.

The Elrond pricing has been stable for some years now. On Thursday, the platform announced the opening of the EGLD staking pool on Binance. Also, the exchange just reached 100 billion transactions. The Elrond network’s recent reputation boost provides it with an ideal future blow.

The combination benefits traders greatly. Trades may earn up to 55.49 percent annual per yield (APY) and split 100 EGLD awards worth $19000. Trading the token for 10, 30, 60, or 90 days earns traders amazing yearly interest rates. The locked staking cap is 0.2 EGLD.

Partnership with Woodstock Fund

Besides this, the platform is actively working on many initiatives to help the community. It just established a partnership with Woodstock Fund. The partner announced a massive investment in a non-custodial staking initiative.

After a week of correction at $225, the cryptocurrency traded at $250, up 6.01 percent in 24 hours. On the 1-day chart, the altcoin has established an ascending parallel channel. The pattern is nearing its convergence zone. Therefore the altcoin may be about to break out.

As additional buyers enter, the asset may break over the $283 barrier. Buyers and sellers may again battle around ATH. This may push the price over $300 if its latest staking program draws more users. If the current barrier breaks, the Elrond (EGLD) price may go below $225.

The remainder of the quarter looks promising for EGLD. It is concentrating on basics to dominate the coming technology revolution. According to CoinMarketCap, the Elrond (EGLD) price today is $245.85 USD with a 24-hour trading volume of $182,221,836 USD.

Recommended for You

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.