EGLD Coin Weekly Analysis And Price Prediction
This article will analyze the EGLD coin according to www.coinmarketcap.com data. First, we will discuss the EGLD coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
This article will analyze the EGLD coin according to www.coinmarketcap.com data. First, we will discuss the EGLD coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is EGLD Coin?
EGLD is the native cryptocurrency of the Elrond network, a high-performance blockchain platform designed to provide fast and secure transactions with low fees. It was launched in 2019 by a team of experienced blockchain developers to create a new architecture for decentralized applications that can support high throughput and low latency.
Elrond’s unique approach to consensus, called Adaptive State Sharding, allows the network to process up to 15,000 transactions per second, making it one of the fastest blockchain networks currently in existence.
Wht are the projects of EGLD?
Some of the projects built on Elrond include:
Maiar: A user-friendly mobile wallet and decentralized application that allows users to send, receive, and store EGLD and other cryptocurrencies.
Sprezza: A platform for building decentralized autonomous organizations (DAOs) on the Elrond network.
Metaverse: A decentralized virtual world that uses Elrond’s technology to enable fast and secure user transactions.
Factors Influencing EGLD Price
Factors that can influence the price of EGLD include:
Adoption and usage of the Elrond network and its applications, as more users and developers begin to use the network, the demand for EGLD may increase, which can drive up its price.
Competition from other blockchain platforms that offer similar features and functionality.
As EGLD is traded on various cryptocurrency exchanges, market movements, and investor sentiment can affect market sentiment and overall cryptocurrency market trends.
Development updates and partnerships, as the Elrond team continues to develop and improve the network, news of new blocks or upgrades can positively impact EGLD’s price.
It’s important to note that cryptocurrency prices can be highly volatile and are subject to various factors, including regulatory changes and global events. Therefore, investing in cryptocurrencies can be risky and should be approached with caution.
EGLD COİN TECHNICAL ANALYSIS
EGLD, which started at $6 in 2021 and went up to $544 with an increase of 8970%, continued its downward trend that started at the end of 2021 to $32, depreciated by about 94%, and fell from $544 to $32. It is currently trading at $41.31. According to www.coinmarketcap.com data, EGLD, which has a size of $1,045,642,145, has had a volume of $26,652,942 in the last twenty-four hours.
EGLD Chart Analysis
EGLD, which started at $ 6 and ended at $ 544, provided an incredible profit to its investor. EGLD, which made its investors smile by rising 8970% in a year, then turned the needle upside down with the downward trend it saw. EGLD, which fell from $544 to $32 in a downtrend that lasted for more than a year, lost 94%. Currently trading at $ 41.31, EGLD maintains its importance at $ 32.31 weekly. If the uptrend continues, the first resistance point is $72.11.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
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