EGLD Crypto Gets a Boost as the Elrond Network Survives Friday’s Crypto Volatility

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EGLD Crypto Gets a Boost as the Elrond Network Survives Friday’s Crypto Volatility


Elrond is seeing green today as most other cryptos fall into a decline


Today, the crypto market is in a slump, with Bitcoin (BTC-USD) falling. As a result, with the exception of a few outliers, the majority of the rest of the asset class is falling in sympathy. Elrond is one such anomaly (EGLD-USD). While other cryptocurrencies are falling, the EGLD crypto is rising as investors pour into the coin.


Elrond (ETH-USD) is a layer-1 blockchain network that hosts decentralized software (dapps) on what it calls "the internet scale blockchain," similar to peers Ethereum (ETH-USD) and Solana (SOL-USD). Although the project has been in the works since 2017, it will not be available until 2020. Since then, EGLD crypto has made a quick ascension to the top of the heap. It is currently the world's 38th-largest cryptocurrency. The project has a market valuation of more than $4 billion.


Here's what you need know about EGLD cryptocurrency right now.


Today's EGLD crypto gains can be attributed to a number of factors. For one thing, the network is currently experiencing a revival after being listed on a major Asian crypto market. Meanwhile, the network benefits from the rapid development of its decentralized exchange (dex). Aside from that, investors appear to be investing extensively in the EGLD crypto today. The increase in purchasing is assisting in pushing its worth even higher.


Bithumb is a Korean cryptocurrency exchange that handles a major part of trading for both its own nation and the rest of the world. Finally, it is one of the world's top 20 largest cryptocurrency exchanges. On a daily basis, the exchange sees trade volumes of more than $1 billion. Given its size, there's no doubt that news of it launching EGLD crypto this week has helped Elrond prices rise.


Furthermore, because of its native Maiar dex, this network is attracting a lot of attention. The Maiar dex has become a tour de force in the DeFi domain since its release in November of last year. The market boasted a remarkable $1.6 billion in total value locked in its weekly report today, as well as numerous freshly established listings.


These positive tales are undoubtedly attracting attention to the EGLD cryptocurrency. Indeed, more investors are pouring money into the initiative, as shown by the recent 50% increase in trade volume. While other projects continue to fall throughout the correction period, EGLD has increased by more than 9%.

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