From a technical point of view, if most of the coins are on the chart at point A and falling down, then EGLD has started to go in front of the market, has passed through the 50th and 100th MA and trying to hold above them, which is already a positive sign. We would wait for more consolidation with going up and potential targets of $59, $68, this scenario is relevant as long as we are above the 50 MA.
EGLD is the native coin of the Elrond blockchain, used to pay on-chain fees, staking, and reward network validators. The Elrond project itself is not only a smart blockchain, but also a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. In a sense, the project token will correlate with the successful development of the project. The entire ecosystem still has development potential, a significant number of projects can still be released in this network through its own launchpad with the support of Morningstar Ventures as one of the main investors in the project.
EGLD is the native coin of the Elrond blockchain, used to pay on-chain fees, staking, and reward network validators. The Elrond project itself is not only a smart blockchain, but also a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. In a sense, the project token will correlate with the successful development of the project. The entire ecosystem still has development potential, a significant number of projects can still be released in this network through its own launchpad with the support of Morningstar Ventures as one of the main investors in the project.