Elrond (EGLD) has risen by 50% in the last week. The price is pushed up by a mysterious deduction
3 min readHolders of Cryptocurrency Elrond (EGLD) are really enjoying the last week. This asset has risen by 50% in the last 7 days, which is the largest growth among the top 50 cryptocurrencies by capitalization. But what is behind this growth?
Mysterious deduction
In the spring months, Elrond (EGLD) launched a popular marketing format, bringing various news, improvements and partnerships to its official Twitter account every day under the # hypergrowth100 brand. During these 100 days, they brought a number of valuable improvements. One of the most important was certainly the launch of the next phase of their mainnet, which made it possible to increase the decentralization of the network and enable staking with external staking providers. The interest in staking was great, with the total amount locked in staking quickly climbing over 60% of coins from the current circulation.
Tomorrow.# mission10 journey begins. 🔥
– Beniamin Mincu @ @beniaminmincu August 2, 2021
In recent months and weeks, the community around this project has been eagerly awaiting the launch of Maiar DEX – a decentralized exchange based on the Elrond network. The latest mysterious countdown of 10 days suggests that at the end of it, we could look forward to the official launch of Maiar DEX. The last few weeks have been the subject of extensive testing and auditing of this exchange office, as evidenced by the tweets below.
Elrond testnet, 125M smart contract calls in 2 weeks, battle-testing the network in preparation for the Maiar Dex release.
– Beniamin Mincu @ @beniaminmincu July 3, 2021
Audits, tests, and improvements.
Fortifying the Maiar DEX.
– Beniamin Mincu @ @beniaminmincu June 27, 2021
Currently, there is a high probability that Maiar DEX is just around the corner. However, we will find out in a few days whether this is really true. However, due to this mysterious deduction, the price of the EGLD is responding to relatively strong growth.
Elrond great activity
Interest in Elrond is constantly growing, which is confirmed by the statistics below. In the last 6 months, the number of active wallets has increased by 400%, for which Elrond owes mainly to their groundbreaking Maiar mobile wallet.
Elrond is one of the cryptocurrencies that are a direct competitor of ETH. Elrond transactions are currently processed in a matter of seconds, with an average fee of $ 0.005.
Not only is Elrond fast and cheap, this network is also the first in Europe to have a negative carbon footprint. The developers have noted that they are fully committed to ensuring that their technology does not have a negative impact on the planet. For this reason, they have partnered with Offsetry to reduce their carbon footprint to help them reduce their carbon footprint. Offset experts analyzed the amount of energy consumed by more than 5,000 servers in 30 different countries scattered on 6 continents.
Offsetra subsequently found that Elrond’s carbon footprint was around 6 million kg, which was subsequently offset by the elimination of 7.4 million kg of CO2, which had a 25% positive impact on the environment.
Due to the increasing emphasis on the lowest possible ecological impact of cryptocurrencies on the environment, this fact could also help to increase the price of EGLD.
