EGLD price predictions expect the coin to continue rising. But how high can it go?
The Elrond blockchain and cryptocurrency has advantages over many of its rivals. It is faster, secure and highly decentralised, with more than 2,000 nodes. An EGLD price prediction will vary depending on who you ask, but there is a consensus that the coin has a bright future ahead.
Elrond was founded in 2017 by Romanian brothers Beniamin and Lucian Mincu, who wanted to improve upon the current blockchains. Its mainnet was launched in 2020 and it has already had an active price history.
Elrond price history
Elrond first launched an ERC-20 and BEP-2 token, ERD, in November 2019, but it minted its own mainnet token, which accompanied the launch of the Elrond blockchain, in September 2020. On 5 September, the new Elrond token (EGLD) went live at $17.20. Over the next three months EGLD fluctuated around the initial launch price.
Towards the end of 2020, the Elrond cryptocurrency started a bullish trend that stayed with the coin for the next few months. On December 4, Elrond announced its own digital wallet and payment platform called Maiar, another name taken from the works of JRR Tolkien. Elrond said Maiar would provide users with financial services such as payments, investments, and passive earning.
Maiar differs from the usual crypto wallet as no complex password are needed. Instead the blockchain uses a phone number to create a wallet address. If users do lose their phone, a recovery phrase can be used to get hold of the lost funds. Users can add other security methods as well, such as a pin and biometric authentication.
Maiar was one of the first apps developed on the Elrond blockchain and it proved to be a success with investors. EGLD climbed above the $20 mark by the end of December and raced to $63.55 on 31 January 2021, the launch date of the Maiar app. The price of EGLD did not stop there, it surged eightfold in the first nine days of February, peaking at $196.02.
EGLD began to settle down after 9 February, correcting to $140, which it roughly stayed at until the end of March. However, Elrond revealed that month its Maiar platform would soon support bitcoin, which pricked the ears of investors.
EGLD started climbing again at the beginning of April, this was backed by updates to the protocol and new real world uses. A new partnership with Shopping.io revealed on 6 April that it allows American shoppers to pay for goods with EGLD. Five days later the price rocketed to $239.
After the peak, it did not look so hopeful for EGLD. The price dropped dramatically over the next five months. It fell below the $100 mark in May and reached its lowest point of the bearish trend on 22 June at $59.
The momentum picked up again in September, which saw the Elrond cryptocurrency pass $200. EGLD saw an initial spike on 14 September when it listed on the KuCoin exchange. This was just a taste of things to come.
EGLD was extremely bullish over the following months and surged to its all-time high of $542.58 on 23 November. This came after Elrond announced an incentive scheme to use its Maiar decentralised exchange (DEX). $1.29bn was distributed to users of the DEX who provide liquidity in EGLD, USDC and MEX, the Maiar Exchange token.
The price of Elrond has fallen since the exchange event, however it is still far above its launch price. At the time of writing, EGLD has dropped to $192. Could it be about to break into a bullish run?
Elrond price prediction
Elrond’s unique protocol and sharding method is what gives the blockchain an edge over its rivals. Coinpedia expects the price of EGLD to rise if Elrond continues to concentrate on enhancing its scalability and the crosschain capabilities of the platform. Its optimistic Elrond price prediction for 2022 is between $500 and $1,000. Coinpedia said the coin could reach $5,000 in five years’ time.
There are some other hopeful EGLD price prediction but not as optimisitic as Coinpedia. WalletInvestor describes the cryptocurrency as an “awesome” long-term investment. It forecasts a continual climb for EGLD, which, it said, should reach above $400 by the end of 2022. Its Elrond price prediction for 2025 is for the coin to pass $1,000.
A gradual climb is expected by PricePrediction as well. It estimates EGLD will hit $400 by 2023 and $900 by 2025. Its Elrond price prediction for 2030 is a whopping $6,327.46.
Meanwhile, DigitalCoin expects it to take three years before the coin can climb above the $400 barrier. Its Elrond coin price prediction estimates the gradual increase will continue and reach $856 by 2029.
Gov.capital does not think it will take nearly as long for EGLD to break past $900. Its Elrond crypto price prediction forecasts the cryptocurrency should hit $997 by the end of this year and a staggering $5,800 in 2025.
Although the price predictions differ, there seems to be an agreement that there is definite growth potential for Elrond. All of the price predictions listed expect it to break its own price records over the coming years.
It could be. Elrond has come a long way since its launch price of $17.20. It saw multiple bullish trends last year that culminated in an all-time high of $542. Despite the recent correction, the consensus among EGLD price predictions is for the coin to keep growing over the following years. Remember, you should always do your own research before investing in any cryptocurrency.
It might. The Elrond price predictions from experts vary but all have one thing in common: the price will continue to grow. Gov.capital expects it to reach a staggering $5,800 in 2025 while WalletInvestor forecasts EGLD to just surpass the $1,000 then. It may look hopeful but investors should always be cautious as the cryptocurrency market can be extremely volatile.
It depends. Elrond saw huge momentum at the end of 2021, which resulted in an all-time high of $542. But EGLD has fallen since then and is currently on a downward trend. Investors should never invest more than they can afford to lose.