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Highlights
- The Elrond (EGLD) coin is used for paying transaction fees and DApps deploying cost on the network and rewards for various contributions to the network.
- EGLD traded at US$489.77 on Monday, up 21.90%, in the last 24-hours.
- The Maiar decentralized exchange (DEX) announced a liquidity incentive program of US$1.29 billion on Nov 19. The EGLD coin has been rising since.
The crypto market currently has over 14,500 cryptocurrencies, and their numbers are growing. The time is not far when their numbers will be in the millions.
The Elrond (EGLD) coin has been rising since the Maiar decentralized exchange announced a US$1.29 billion liquidity incentive program on Nov 19. In a blogpost on the same day, it had said it could be “the largest DeFI incentive program to date.”
Elrond rising on Maiar’s US$1.29-bn incentive boost: How to buy EGDL?
EGLD launched its initial exchange offering on Binance in June 2020. EGLD is used to pay transaction fees and DApps deploying costs on the network and rewards for various contributions to the network.
Maiar said the incentives will be “denominated in MEX” – or US$1.29 billion worth of Maiar DEX utility and governance (MEX) tokens.
A total of US$282 million will be distributed to Maiar DEX users in the first month. The users will provide liquidity in EGLD, MEX, and USDC tokens.
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Beniamin, Lucian Mincu, and Lucian Todea had co-founded Elrond in 2017 as part of efforts to solve the problem of blockchain scalability. The Maiar DEX is a fully community-owned platform developed by Elrond Network to bring DeFi adoption to an internet scale.
The EGLD coin can be traded on Binance, Huobi Global, Manadala Exchange, FTX, and OKEx.
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Elrond (EGLD) Performance
EGLD is priced at US$489.77 on Monday, up 21.90% in the last 24-hours ending at 7:26 am ET.
Its 24-hour trading volume was worth US$1,25 billion. Elrond’s current market capitalization is US$9.68 billion, and its circulating supply is 19,768,678 coins.
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EGLD’s maximum supply is 31,415,926 coins. In the last 24-hours, its volume increased 91.40% to US$1,27 billion. Its last 24-hour price ranged from US$396.63 to US$494.89.
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Bottomline
The Maiar decentralized exchange’s (DEX) incentive program represents a massive push for mainstream adoption of DeFi and scaling up the reach beyond the crypto space.
