EGLD
Reputation Ratings

EGLD

Elrond 5-10 years
Website https://elrond.com/
Browser
OTH RELPs
White Paper
Avg Price
-17.01%
1D

$ 41.61 USD

$ 41.61 USD

Market Cap

$ 1.8465 billion USD

$ 1.8465b USD

24h trading volume

$ 101.093 million USD

$ 101.093m USD

7d Vol

$ 515.123 million USD

$ 515.123m USD

Circulating supply

26.681 million EGLD

Related information

Issue Time

2019-07-05

Platform pertained to

--

Current price

$41.61USD

Market Cap

$1.8465bUSD

Volume of Transaction

24h

$101.093mUSD

Circulating supply

26.681mEGLD

Volume of Transaction

7d

$515.123mUSD

Change

24h

-17.01%

Number of Markets

225

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Current Rate0

Available

0.00USD

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Historical Price

Introduction

Markets

3H

-0.65%

1D

-17.01%

1W

-19.74%

1M

-42.68%

1Y

+0.34%

All

+143.07%

Feature Details
Short Name EGLD
Full Name MultiversX
Founded Year 2019
Main Founders Beniamin, Lucian Mincu, Lucian Todea
Support Exchanges Binance, Bitfinex, Crypto.com, eToro, OKEx, KuCoin, Gate.io, CoinDCX, Bithumb, Bitvavo
Storage Wallet xPortal, MultiversX Wallet, Ledger, NGRAVE, Trust Wallet, etc
Customer Support Email: contact@multiversx.com
Linktree: https://linktr.ee/multiversx
Facebook, YouTube, Linkedin, Twitter, Discord, Instagram

Overview of EGLD

EGLD, issued in 2019, is the native token of MultiversX, acting as a store of value currency to pay for network usage. The coin also serves as a medium of exchange between platform users and validators. MultiversX rewards the community and active participants with EGLD tokens. Users pay transaction fees in EGLD and validators provide services. Plus, EGLD is endowed with the functionality of a governance token, and its holders can vote on network decisions. To obtain more information, you can visit their website: https://multiversx.com/ and try to log in or register to use more services.

EGLD's homepage

Pros and Cons

Pros Cons
Scalable blockchain platform Still in development stage
Supported by multiple exchanges Volatile market price
Multiple storage wallet options
Efficient transaction processing
Pros of EGLD Token:

1. Scalable blockchain platform: The Elrond Network employs a unique system which allows it to scale, thus effectively handling any increase in demand. Its adaptability to changes in usage pace contributes to its capability to facilitate more transactions over time.

2. Supported by multiple exchanges: Known exchanges such as Binance, Bitfinex, Crypto.com, and eToro, among others, support the buying, selling, and trading of EGLD tokens. This broad platform support lends increased accessibility to token holders from different parts of the world.

3. Multiple storage wallet options: EGLD tokens can be stored in different wallets, including the xPortal, MultiversX Wallet, Ledger, NGRAVE, Trust Wallet, etc. This gives users the flexibility to pick the storage method that they find the most secure or convenient.

4. Efficient transaction processing: Built with a focus on optimal efficiency, EGLD's blockchain platform executes transactions quickly. The platform's design allows for simultaneous processing, increasing the overall transaction speed.

Cons of EGLD Token:

1. Still in development stage: As is common with many digital currencies, some aspects of the EGLD platform are still under development. This could mean potential changes, adjustments, and even instability until the development phase is fully completed.

2. Volatile market price: Like all cryptocurrencies, the EGLD token is exposed to market volatility. The price can rise or fall dramatically in a short period, presenting a risk for investors.

Crypto Wallet

There are three official wallets provided by MultiversX to support EGLD.

Crypto Wallet
  • XPortal: XPortal is a digital crypto wallet and global payments app that allows you to exchange and securely manage crypto on your mobile phone.

  • MultiversX Wallet: MultiversX Wallet is a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy, helping you securely store, transfer and swap tokens and collectibles.

  • MultiversX DeFi Wallet: The MultiversX DeFi Wallet is a MultiversX wallet web extension that can be added to Chrome browsers. It enables users to securely store EGLD and ESDT tokens on the MultiversX Network, send transactions and smart contract calls and sign messages.

What Makes EGLD Unique?

EGLD offers innovation within the cryptocurrency realm by emphasizing scalability and transaction efficiency. The network's unique system, built for optimal adaptability, permits increased transaction processing as demand grows. This scalability comes from the MultiversX's introduction of sharding, where the blockchain and network operations are divided into smaller sections, allowing for simultaneous execution and increased transaction speed.

Furthermore, EGLD uses a Secure Proof of Stake (SPoS) consensus mechanism, which is a variant of the common Proof of Stake (PoS) model. The SPoS model enhances security, maintains decentralization, and ensures an efficient network, thus addressing some of the pressing concerns within other PoS-based blockchain models.

What Makes EGLD Unique?

How Does EGLD Work?

EGLD is the native token of the MultiversX blockchain, a high-throughput, low-cost, and scalable blockchain platform. EGLD has several important functions within the MultiversX ecosystem, including paying transaction fees, securing the network, participating in governance, and purchasing goods and services on the network. In addition to these core functions, EGLD can also be used to purchase goods and services on the MultiversX network, such as NFTs, games, and decentralized finance (DeFi) projects.

How Does EGLD Work?

Market & Price

Coin AirDrop

Maiar EarnDrop took place over a span of one week from July 7, 2021, to July 14, 2021. There is a total of 400 EGLD being distributed. At the time, these tokens had a total worth of $40,000.

Price Fluctuation

Short-term (past week):

  • Upward trend: EGLD is currently around $53.60, up 4.06% from its price a week ago ($51.19). This indicates a positive short-term trend.

  • Volatility: Despite the overall upward trend, there have been price fluctuations within the week. It reached a high of $59.06 before dipping back down.

Mid-term (past month):

  • Downward trend: Looking at the past month, EGLD is down 6.59%. It started above $57 in February and has fluctuated since then.

Long-term (past year):

  • Upward trend: Over the past year, EGLD has increased by 14.10%. However, it's important to note that it reached a peak of around $73 in November 2023 and has come down significantly since then.

Overall:

EGLD's price trend shows a mix of short-term optimism and longer-term uncertainty. While it's currently experiencing a positive week, its mid-term and long-term trends are slightly bearish.

Market & Price

Exchanges to Buy EGLD

EGLD is supported for buying on numerous reputable cryptocurrency exchanges, each offering different currency and token pairings for trade.

1. Binance: This exchange supports multiple EGLD trading pairs, including EGLD/USDT, EGLD/BTC, and EGLD/BUSD. See this link for details on how to buy EGLD: https://www.binance.com/en/how-to-buy/multiversx-egld.

Binance

Step 1: Create a free account on the Binance website or the app.

Binance is a centralized exchange where you can buy several cryptocurrencies including EGLD. Before you can use the Binance platform, you'll need to open an account and verify your identification. You can register via the Binance App or the website using your email and mobile number.

Step 2: Choose how you want to buy EGLD.

Click on the “Buy Crypto” link on the top of the Binance website navigation to know about the available options to buy EGLD in your country.

Step 3: Check the payment details and fees.

You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. You can click Refresh to see the new order amount.

Step 4: Store or use your EGLD in Binance.

Now that you bought your crypto, you can store it in your personal crypto wallet or simply hold it in your Binance account. You can also trade for other crypto or stake it on Binance Earn for passive income.

2. Gate.io: Gate.io operates pairs such as EGLD/USDT. See this link for details on how to buy EGLD: https://www.gate.io/how-to-buy/multiversx-egld.

Gate.io

Step 1 - Create an Account on Gate.io

Create an account with Gate.io, or login to your existing Gate.io account.

Step 2 - Complete KYC & Security Verification

Ensure that you have completed KYC and security verification.

Step 3 - Choose your preferred method to buy EGLD

Buy EGLD at the market price or present a buy price that you desire for the most popular EGLD currency pair, EGLD/USDT.

Step 4 - Purchase successful

Your EGLD is in your wallet now. If you havent received your crypto, you may visit the Help Centre or ask reach out to the customer service team by live chat.

3. Crypto.com: This exchange supports EGLD purchases with USDT, providing the EGLD/USDT pair.

4. eToro: While eToro primarily operates as a CFD platform, it also supports direct purchases of EGLD with fiat currency.

5. OKEx: On OKEx, traders can leverage various pairs including EGLD/USDT and EGLD/BTC.

6. KuCoin: This exchange supports several EGLD pairs such as EGLD/USDT and EGLD/BTC.

7. Bitfinex: On this platform, users can trade EGLD against USD (EGLD/USD).

8. CoinDCX: On this trading platform, the EGLD/USDT pair is available.

9. Bithumb: Users can trade EGLD/KRW pair on this South Korean based exchange.

10. Bitvavo: This platform allows users to buy EGLD with Euros, providing the EGLD/EUR pair.

How to Store EGLD?

You can store EGLD in the official wallets provided by MultiversX, including xProtal and MultiversX. And EGLD can be stored using various wallet options.

How to Store EGLD?

Trust Wallet: This is a mobile wallet that supports many different cryptocurrencies. It offers features like a built-in dApp browser that can interact with other decentralised applications directly from the wallet.

Crypto.com Wallet: This wallet is part of the Crypto.com exchange and offers users the ability to buy, sell, and pay with a variety of cryptocurrencies. It also has security features including biometric recognition and two-factor authentication, and allows users to earn interest in select cryptocurrencies.

Ledger: This refers to Ledger's hardware wallets, the Ledger Nano S and Ledger Nano X, which are devices that securely store the user's private keys offline. This 'cold storage' methodology is considered one of the most secure ways to keep cryptocurrencies safe from online threats such as hackers.

Is It Safe?

The design of EGLD incorporates several security measures. It uses a secure proof-of-stake consensus protocol, which requires nodes to stake their EGLD tokens to participate in the validation process. The protocol also assigns rating scores to each validator based on their past activity. A validator with a low rating score will not be selected to participate in the validation process and may also incur fines.

In order to protect the network's integrity, validators that continuously act against it can be removed and have their staked EGLD tokens slashed. Validators are selected randomly and shuffled between shards periodically to prevent collusion, making it unpredictable and preventing manipulation.

Communication among nodes uses modified Boneh-Lynn-Shacham (BLS) multi-signatures, providing robust cryptographic security.

How to Earn EGLD?

Airdrop Participation: Stay updated with official MultiversX announcements and follow its social media to take part in airdrops when available.

Staking: By staking your EGLD holdings, you can earn an approximate annual percentage return (APR) of 7.68%.

How to Earn EGLD?

Network Task Participation: By joining the MultiversX network and getting involved in tasks like validating transactions (when selected as a validator), you can earn more EGLD.

Purchase and Trade: Buy EGLD at a low price, and sell when the price increases for potential profits.

Conclusion

EGLD, MultiversX's native token, boasts impressive characteristics that include exceptional scalability, efficient processing of transactions, and compatibility with a wide range of wallets and platforms. These attractive features make EGLD a favourable option for investment. As with all investments, however, it is vital to fully comprehend the risks and complexities associated with the cryptocurrency market.

FAQs

Q: Where can I buy EGLD?

A: EGLD can be purchased through various exchanges including Binance, Crypto.com, and eToro among others.

Q: How to store EGLD?

A: It can be stored in official wallets provided by MultiversX, as well as in other wallets like Trust Wallet and Ledger.

Q: What's the circulating supply of EGLD?

A: As of February 5, 2024, the circulating supply of EGLD is 26,520,565.

Q: Who is an ideal EGLD investor?

A: The ideal EGLD investor could be long-term investors, tech enthusiasts, or active crypto traders who are aware of the risks associated with market volatility and are willing to invest money they can afford to lose.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

6 ratings

Participate in evaluation
Dory724
Innovative blockchain with high throughput. Scalability and low fees are its strengths. Strong potential for growth
2023-11-06 05:29
8
Ufuoma27
This is an innovative crypto currency coin.Elrond is a blockchain platform designed to provide fast and secure transactions. It employs a unique consensus mechanism called Adaptive State Sharding, aiming to scale the network and increase throughput. Elrond's native cryptocurrency is EGLD. If you have any specific questions about Elrond or its features, feel free to ask!
2023-12-07 22:57
1
leofrost
Egld coin has truly impressed me with its innovative approach, robust technology, and a dedicated community. The project's focus on scalability and user-friendly features makes it a standout in the crypto space. Exciting times ahead
2023-11-06 23:36
8
Jenny8248
The project has gained attention for its impressive transaction speeds and minimal transaction fees, addressing scalability issues that plague many blockchain networks. Additionally, Elrond's user-friendly interfaces and developer tools contribute to its appeal.
2023-11-21 21:36
4
hardwork
Elrond is a great choice for people who need a high-throughput, low-latency blockchain platform for their dapps or smart contracts. It is also a good option for people who want to invest in a cryptocurrency with a bright future.
2023-11-04 00:58
2
umaru3830
A highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy. Been holding since 2021, and you guys should check this one out and get your bags 🚀
2023-01-14 05:08
0

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