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Live EGLD/INR Price
₹266
1.53%
Price Changes
₹4.0698
1.53%
24h Low
₹253
24h High
₹266
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EGLD
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INR
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MultiversX is a Layer 1 blockchain that was earlier known as Elrond. It is a highly scalable and cost-efficient smart contract platform designed to compete against industry giants like Ethereum and Zilliqa.
MultiversX was founded in 2017 by Lucian Todea, Beniamin Mincu, and Lucian Mincu.
• Adaptive state sharding: One of the unique features of MultiversX is the adaptive state sharding. This method divides the blockchain into smaller segments, which increases transaction efficiency and scalability.
• Secure Proof of Stake (SPoS): The MultiversX network proposed a unique consensus mechanism called the Secure Proof of Stake (SPoS). The mechanism enhances security and increases transaction speed by enabling quick confirmation times.
• MultiversX virtual machine: MultiversX offers a fast and secure virtual machine (WASM VM). This allows developers to create smart contracts using any programming language that compiles to Web Assembly.
• High throughput: MultiversX is capable of processing rapid transactions per second (TPS), which is also cost-effective.
EGLD, which was launched in July 2019, has grown substantially in the past few years. The token surged from around $17 at the time of launch to an all-time high of $545.64 in November 2021. As of July 2024, the token is trading at around $36 and ranks among the top 70 by market cap. EGLD is a prominent cryptocurrency, especially in the DeFi space, leading to significant growth over the years. The token is poised for a greater upward trajectory in the future with the price of EGLD estimated to range between $205 to $252 by 2025, making it a promising crypto.
Invest in EGLD with CoinSwitch today by downloading the app.
• Storing value: Similar to other cryptos, EGLD can be held as a store of value. EGLD holders can trade it for other cryptos or sell it from an exchange that has listed EGLD like CoinSwitch.
• Paying transaction fees: The EGLD token powers the MultiversX ecosystem and its native token EGLD is used to facilitate all transactions in the network.
• Rewarding network participants: EGLD token is used to reward participants contributing to the security and operation of the network, including validators and stakers.
• The MultiversX network is highly scalable due to its adaptive state sharding.
• MultiversX network is popular for its quick and inexpensive transactions.
• MultiversX network is interoperable with other blockchain systems, including Ethereum.
• EGLD, like any other cryptocurrency, is subjected to market volatility which may impact its price.
• EGLD’s prominent features such as sharding and staking might be difficult to understand for novice traders.
• MultiversX network, like other blockchain networks, faces strong competition from other networks and their native tokens.
• To trade EGLD on CoinSwitch, start by downloading the app.
• You can start with as low as ₹100.
• CoinSwitch offers an easy-to-use platform suited for traders of all levels.
In June 2019, MultiversX raised $1.9 million from angel investors in a private investment round. Later that month, it conducted an Initial Exchange Offering (IEO) and raised $3.25 million for 25% of its total token supply.
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1. Who is the founder of MultiversX (EGLD) ?
The founder of MultiversX (previously known as Elrond) is Beniamin Mincu. He serves as the Co-founder and CEO of the project.
2. What is the market cap of MultiversX (EGLD)?
As of December 27, 2024, the market capitalization of MultiversX (EGLD) is approximately $942 million, with a circulating supply of 27.7 million EGLD tokens.
3. What is the circulating supply of MultiversX (EGLD)?
According to CoinMarketCap, the market cap is $937,711,453 USD.
4. Is Elrond now in the multiverse?
Yes, Elrond has rebranded to MultiversX, reflecting its shift in focus towards the metaverse. This rebranding includes a new suite of products aimed at enhancing its presence in the metaverse ecosystem. The transition was announced with a new roadmap and a broader vision for integrating various technologies within a metaverse framework.
Highlight
MultiversX is a blockchain protocol popular for its use of sharding mechanism to support fast and low-cost transactions on its network.
EGLD Price Today
EGLD Price
₹266
Price Change 24h
1.53%
Price Change 7d
0.75%
Market Rank
#196
Market Cap
₹724 Cr.
Trade Vol 24h
₹45 Cr
Circulating Supply
₹3 Cr. EGLD
Trading Activity
93% Buy7% Sell
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
