Since the beginning of August, Elrond (EGLD), a scalable and secure blockchain platform for distributed applications and companies at company level, has been in an active rally. Data from Cointelegraph Markets Pro and TradingView show that EGLD price has risen 437% from its low of $ 52 on June 22, to a new all-time high of $ 302.14 on September 14, the launch of the Maiar exchange, a DeFi protocol, which is based on the Elrond network and enables users to trade, provides liquidity in different pools. On September 9, it was announced that thanks to the MoonPay integration, US citizens can now buy EGLD tokens directly via the Maiar application, giving the project access to the world’s largest retail economy. To attract new users and demonstrate the capabilities of the Elrond network, Mayar also launched a $ 100,000 Battle for Profitability competition on September 14th, giving users the opportunity to win EGLD based on their trading volume. Another reason EGLD’s recent strength was its listing on the KuCoin exchange, the fifth largest exchange by 24-hour trading volume. New listings often follow strong rallies for the token, especially when combined with eternal futures markets or the top 5 on the exchange in terms of trading volume.
Financial and economic reporter