As the popularity of cryptocurrencies grows, it is a common thought that Bitcoins and altcoins can significantly affect the global economy and compete with fiat money. Anyone who is advanced in technology can write their own cryptocurrency, being even a schoolboy. And this is not a metaphor: tech-savvy students do create their own crypto money. Cryptocurrencies are written according to approximately the same principle by which programs are written. A “finished” digital coin needs to be listed on the exchange so that users can buy it. And it is better not to list on the one exchange, but on dozens: just as it is more profitable for a farmer to supply milk to ten stores, and not to one. And the more a person buys your cryptocurrency, the higher its rate will rise.
Like most cryptocurrencies created between 2017-2018, the Elrond project is conceived as an ambitious alternative to Bitcoin. Essentially, Elrond is a blockchain system that operates on an adapted sharding scheme in order to provide practical scalability. For operations, the Secure Proof of Stake consensus mechanism is used; the security of work is ensured with the help of a Rogue-key.
The system is completely decentralized, therefore it has a high throughput. Elrond is often seen as an appendix to better-known models in order to strike a balance between decentralization, globalization, and safe operation. The Elrond system is a modernized version of the blockchain structure. To maximize the efficiency of the platform, Elrond developers used the principle of adapting state segments.
ERD cryptocurrency has great prospects for its development. The blockchain throughput is the most important feature that ensures the ever-increasing demand for the system.
Elrond price prediction
The project’s IEO was held on the Binance Launchpad and then the ERD token was added to other exchanges. However, the full launch of the project took place only in 2020. After the ERC-20 core network was put into operation, in September 2020 the ERD tokens were replaced by EGLD tokens at a rate of 1 to 1000.
ERD’s highest possible value was only 43 cents, while the EGLD began its path with $ 17.6. Slowly the price faced fluctuations and it kept falling to $ 10.11 closing September, $ 7.83 by mid-October, but the currency was able to stabilize and reached $ 9.07 by the end of November, 2020. It is noteworthy that in December last year, Elrond began to grow steadily up to $ 23,76- $ 29.26. But the new peak occurred on February 10, 2021, hitting the mark of $ 197, increasing by more than ten times. However, this was followed by a rather serious correction. The project has successfully passed many key stages on the roadmap and has established itself as one of the leading crypto-startups with a large capitalization.
EGLD price chart
Let’s look at the Elrond cryptocurrency forecasts for 2021, 2022 and 2025. Some analysts believe that the price of the EGLD token will rise, while for others such a scenario seems rather bullish and unrealistic.
Elrond Price Prediction 2021
It is optimistic to say that Elrond began an upward glide path starting 2021 with a trading price of $ 24.80 and on February 9, 2021, gradually reached a level of $ 215.87. On April 12, 2021, the coin made a record breakthrough at 243,92 $. Nowadays one token is traded at $178.
Cryptonization`s forecast is bullish awaiting EGLD price this summer in the range of $ 180-200, and at the end of the year the maximum EGLD coin price prediction is expected at $ 245.
EGLD Price Prediction 2022
In 2022 Elrond may keep the position having its price at $ 362 by early January. The influence by the community in terms of beginning various corporations and the evolution of EGLD protocol may impact the coin price growth. However, in case of improper functioning, the token can fall to $ 100. As per Cryptonization prognosis EGLD may open 2022 with $ 253, but at the turn of the year the ultimate price is forecasted at $ 350. As stated by WalletInvestor, EGLD is a money-making capital formation and its rate is likely to get $ 351.30 by December 2022.
5 Years Elrond Price Prediction
Digital coins are extremely unpredictable and really complicated assets. Even very experienced analysts may fail while predicting their behavior. From numerous currently existing crypto assets, an investor chooses those ones which are buzzwords for everyone and tries to turn a few cents into several thousands.
By 2025 Elgorand may become a substantial competitor to many other altcoins with regard to operational speed. But we should not forget about the volatile nature of the crypto market, therefore the dropdowns to the level of $ 250 are quite probable. However, the maximum price that Elrond can reach by the end of 5 years is $ 1,200 which is proved by the WalletInvestor analysis predicting the peak at $ 1,159 by the end of 2025. Cryptonization forecast is more optimistic, believing that in January 2025 the price of the asset may reach $ 950 while at the end of 2025 the maximum price may sky-rocket to $1,360.
Our Elrond Price Prediction
Given the current market capitalization of $ 3,134,419,960.00, it is difficult to reliably predict the success of investments. But if the project develops according to its roadmap, we can expect its widespread popularization. Thanks to the staking (rewards) available online, it is very attractive for those holders who want to keep long-term contracts and receive a passive source of income.
To our opinion, EGLD has every chance to cross the $ 300 mark by the summer and will be fixed at $ 350 by the turn of 2021. Quoting a famous work by Shakespeare, to be, or not to be, that is the question. Our answer is to be.
Can I stake Elrond now?
At the moment, the crypto industry has a tendency to move from the Proof-of-Work algorithm, on which basis Bitcoin is built, to the Proof-of-Stake algorithm, which allows gaining passive income for storing coins. This feature was added by the Binance Exchange in early October 2020. With a significant amount of EGLD on your balance, you can earn passive income by staking by blocking 2,500 EGLD in order to be able to become a validator. As 2,500 EGLD are quite expensive at the current rate, users are clustering. Such groups can be joined by delegating only 10 EGLDs. Depending on the rules of the group, the reward can be divided in different ways.
Elrond currently provides a return of 29% per annum for delegates, and 36% for validators, and up to 20% for those in the stacking queue. Elrond’s stacking income is much higher than in other blockchain projects.
Where can I buy EGLD Crypto?
Today, Elrond coins can be purchased on Binance, Bitfinex, OKEx, Bithumb Global, BitMax, Crypto.com, as well as on a number of exchange services. Godex is a reputable anonymous crypto exchange supporting a big variety of coins ranging from Top players like BTC and ETH and the smaller perspective projects like EGLD. Godex protects you from the market jumps and falls with the fixation of the exchange rates until the completion of transactions.
What is Elrond token?
Elrond tokens were initially issued on Binance Chain under the name ERD in the amount of 20 billion tokens. In September 2020 the company launched a token exchange event for token holders in order to interchange their ERC-20 and BEP-2 tokens for core network EGLD tokens. During this process, the total token supply was reduced to 20 million by setting the exchange rate at 1000 ERD per 1 EGLD. If the tokens were subject to stacking, delegated or stored on the Binance exchange, the exchange took place automatically. If the coins were on a cold wallet or on any exchange, including the decentralized Binance DEX exchange, the replacement had to be done manually. The migration completion dates have not been set yet. Token exchange means high growth in Elrond’s economy and it is a natural step to include all Elrond’s built-in services, such as general bidding and delegation, as well as DeFi’s own capabilities.
The token is used to confirm transactions in the network, for which the validator receives a commission. EGLD can also be used for staking, earning passive income from various projects in the Elrond ecosystem. The maximum number of tokens equals 31,415,926. Currently, a little more than 55% have been released.