ELF crypto on fire, no sign of slowdown in recent rally

September 17, 2021 01:52 PM BST | By Manu Shankar
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  • An open source blockchain network, ELF crypto has had a bullish trend, registering a massive volume rise by 1258.28% on Friday.    
  • ELF is trading at US $0.999403 with a 24-hour trading volume of US $1,31,35,67,724

Aelf (ELF) token is having a sweet Friday with the intraday trading session showing positive movement registering a volume rise by 1,258.28%. The bullish momentum is visible even in the price increase at it surged by 37.18% in the past six hours.

An open source blockchain network, ELF crypto has had a bullish trend in the last few weeks. It has had a monthly and quarterly volatility of 4.06% and 5.95%, respectively, making it one of the most watched and traded crypto. Founded by J. Michael Arrington and Zhou Shuoji, the ELF crypto has seen the bullish trend especially post its mainnet launch announcement on Huobi, Gate_io, Upbit exchange on 9 September.

With ELF crypto on the verge of reaching the resistance level of US $1.000, many investors anticipate that this could be start of the ELF momentum in the cryptosphere.  ELF crypto easily functions from an NFT ecosystem to an Ethereum protocol through its Parallel Processing and AEDPoS Consensus Mechanism.

Also Read: Universidad De Chile Crypto Sees Meteoric Rise Post Listing

How does ELF work? 

Working towards making the Proof-of-Stake consensus system more adaptable, the ELF crypto token is dictated by the side chain and main chain model. While the side chain is used to communicate through the governance system, the main chains are largely used for indexing of the transactions and works through an external chain such as Bitcoin, Ethereum, etc and also through the internal chains within the ELF operating system.

Elf crypto comes handy for establishments that are looking for a flexible and smooth supply chain management, user incentives, and property protection solutions, which can be easily achieved through a modularised blockchain solution.

Also read: Can Gala crypto continue its strong run?

How has ELF been faring?

Aelf is governed by its native token ELF and is ranked 124 on CoinMarketCap. The ELF crypto has been trading at US $0.999403 with a 24-hour trading volume of US $1,31,35,67,724. At the time of writing (BST 11:40 am), ELF was up by 36.42% in the last 24 hours and has a live market cap of US $54,41,55,175. It has a circulating supply of 54,44,80,200 ELF coins

An ideal crypto token for the investors at the moment, ELF crypto is indeed grabbing the attention and with strong bullish patterns. It is indeed an ideal time to invest in the crypto and mint profit while the momentum lasts.


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