2021-8-31 19:57 |
The Elrond (EGLD/USD) price popped on Monday as more companies continued to embrace the network. The coin’s price jumped to $166.40, which was the highest level since May this year. This jump brought its total market capitalization to more than $3.5 billion, making it the 41st biggest coin in the world.
Copper.co integrates ElrondElrond is a fast-growing blockchain platform that helps companies and developers build fast, secure, and scalable blockchain projects.
The developers’ goal was to create a highly scalable platform that solves some of the key problems that exist within Ethereum’s ecosystem. Some of these challenges are about its speed, scalability, cross-chain interoperability, and efficiency.
Their approach to these problems was to embrace the proof-of-stake consensus mechanism from the word go. At the same time, they embraced the concept of sharding that helps to boost the speed of transactions. Some of the other popular blockchain projects addressing these challenges are Zilliqa, Algorand, Chainspace, and Solana.
The Elrond price popped on Monday after Copper.co integrated its technology into its ecosystem. Copper is a leading digital infrastructure platform that helps companies secure their multi-party computations (MCM). In a statement, Elrond’s CEO said:
“Best in class digital asset custody services are essential for making the rapidly expanding Elrond ecosystem accessible to more institutional actors, markets, and geographies. With Copper as a robust custodian for assets on the Elrond Network, a new growth chapter is ready to begin for the internet-scale blockchain.”
Copper joins a number of other leading platforms that are adopting this technology. For example, recently, BlockBank, a leading neobank integrated EGLD and ESDT tokens into its ecosystem. Similarly, Audit.One, an infrastructure project adopted it. Other popular brands that are using the technology are Effort Economy, ChainBoost, and AllianceBlock.
Elrond price prediction Elrond price chartThe EGLD price has been in a strong bullish trend recently. Along the way, it has jumped by more than 210% from its lowest level in July. It has also moved above the 25-day and 50-day exponential moving averages (EMA). Most notably, the coin has moved above the key resistance level at $160, which was the highest point last week.
Therefore, the Elrond price may keep rising as bulls target the key resistance level at $200, which is about 20% above the present level.
The post Elrond price prediction: EGLD heads to a 20% jump to $200 appeared first on Invezz.
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