Leading up to November 19th, EGLD’s price was around $300. However, last Friday, this changed drastically, and the token charted a new all-time high of around $492 today.
One of the main reasons behind the price expansion might have been the $1.29 billion liquidity incentive program, which Elrond introduced on Friday. The initiative aims to “supercharge” the upcoming launch of the platform’s native decentralized exchange – Maiar.
The DEX will use its utility and governance token – MEX – to transfer the funding. $282 million of the total amount will be distributed in the first month to those users of the trading venue who provide liquidity in EGLD, MEX, and USDC.
EGLD is probably one of my biggest holdings.
It had a clean break of its ascending triangle on the daily and continued strong.
Price closed on a bearish shooting star which could confirm that’s it for a little while.
We could expect price to pullback from being overbought before a continuation up.
Overall. I’m long term bullish.
Keep this on your watchlist.
- Factor Four
One of the main reasons behind the price expansion might have been the $1.29 billion liquidity incentive program, which Elrond introduced on Friday. The initiative aims to “supercharge” the upcoming launch of the platform’s native decentralized exchange – Maiar.
The DEX will use its utility and governance token – MEX – to transfer the funding. $282 million of the total amount will be distributed in the first month to those users of the trading venue who provide liquidity in EGLD, MEX, and USDC.
EGLD is probably one of my biggest holdings.
It had a clean break of its ascending triangle on the daily and continued strong.
Price closed on a bearish shooting star which could confirm that’s it for a little while.
We could expect price to pullback from being overbought before a continuation up.
Overall. I’m long term bullish.
Keep this on your watchlist.
- Factor Four