What’s Behind Elrond (EGLD) Daily Surges?

Report: Binance Halts EGLD Network Following $1.65M Loot

Elrond (EGLD) has been so successful over the past one year. The year 2021 has been so generous, letting it flourish like anything. Furthermore, it foresees going past the $300 price range very soon. Besides, it’s spiking up profusely for the past few days, making everyone wonder the reasons behind such profuse spikings. 

The Elrond (EGLD) is a completely blockchain based system network focused upon extremely fast transactions and trade. Moreover, the platform’s blockchain supports many Decentralized Finance (DeFi) applications, smart contracts, and NFTs too. EGLD is the native token of the platform.

On the other hand, the growth of EGLD is astonishing, owing to the fact it rose to its all time high of $304.2 just in a period of three months. Before these three months the price of Elrond (EGLD) was down to about $52.00 only. Therefore, just in a span of 3 months, EGLD grew over a whopping 437% rise. The following are major reasons for the epic surge of EGLD. 

Launch of Maiar Exchange

The launch of Elrond’s own exchange, the Maiar exchange, and its mobile app are one of the most important reasons for the spike of EGLD. Besides, the platform’s very own exchange launched on September 9, now EGLD could be brought easily from their own app. Also, the exchange offers profuse trading and establishing liquidity in pools too. 

In addition, the introduction of the “Battle of the Yields” concept soon after the launch on September 14, attracted immense attention upon the crypto industry, as winners received free EGLD.

KuCoin Exchange Listing 

The fifth largest cryptocurrency exchange in the world, KuCoin, listed EGLD recently. This is another major reason for the surge of EGLD in recent times.

Moreover, the listing in KuCoin and launch of Maiar, has catapulted EGLD from $83 million to $740 million in 24 hours on September 11.  

Technological Innovations

In spite of technological advancements of its blockchain system , Elrond has partnered itself with many profuse establishments like AI generated media, Humans, and digital services provider, Cooper. Also, it has partnered with NewsCrypto as its media partner spreading and expressing what Elrond is all about. In addition, it has also partnered with many leading DeFi Apps, NFTs, blockchain games and also, cross platforms exchanging. And so, now EGLD could be transferred between Ethereum (ETH), Polkadot (DOT), and the Binance Smart Chain too.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.