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Highlights
- Elrond's smart contract can facilitate 15,000 transactions per second.
- The EGLD coin gave a return of 794.4% YTD.
- Elrond can be traded against fiat currencies, cryptocurrencies, or stablecoins.
Currently, some 15,800 cryptocurrencies and 448 crypto exchanges are in existence globally. While their numbers are constantly growing, the global crypto market also saw record valuations, briefly surpassing the US$3-trillion mark in early November, lifted by Bitcoin prices.
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What is Elrond (EGLD)?
Elrond is a blockchain protocol that provides faster transactions using the sharding tool. It describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance, and the Internet of Things (IoT).
According to the company, its smart contracts platform can facilitate 15,000 transactions per second, with six-second latency at the cost of US$0.001 per transaction.
The Elrond blockchain has a native token called eGold (EGLD), primarily used for paying network fees and staking. In addition, it is also used to reward the validators.
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Elrond’s main network went live in July 2020. Elrond was co-founded by brothers Lucian and Beniamin Mincu, along with Lucian Todea in 2017.
It was established as a solution to the issues related to blockchain scalability.
Elrond has a limited supply of 20 million EGLDs and a maximum supply of 31,415,926. However, the maximum supply will decrease with the processing of more transactions.
Interested buyers can purchase the EGLD token on crypto exchanges like Binance, BitMax, etc. It can be traded against fiat currencies like the US dollar, Indonesian rupiah, cryptocurrencies like Bitcoin, Binance Coin, etc., or stablecoins like Tether and Binance USD.
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Source: *Data provided by CoinMarketCap.com
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Elrond (EGLD) coin price and other details:
The EGLD coin was priced at US$229.17 at 1:55 pm ET on Dec 20, down 6.41%. Its market cap is US$4.56 billion, and its fully diluted market cap is US$7.19 billion. The last 24-hour trading volume was US$171.50 million.
The coin has seen the highest price of US$542.58 and the lowest price of US$20.57 in the last 52 weeks. It touched an all-time high of US$542.58 on Nov 23, 2021.
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Bottomline
The global crypto market is currently worth around US$2.16 trillion, according to CoinMarketCap.com. The EGLD coin gave a return of 794.4% YTD. However, investors should evaluate the risks carefully before investing in crypto assets.
