CandleFocus

AI predicts MultiversX (EGLD) price for year-end

Author: Content Editor
The cryptocurrency MultiversX (formerly Elrond) is gaining traction as one of the most technologically advanced blockchain platforms. Its token, EGLD, has seen a 10.8% increase in the past week and a 71% increase in the last month, indicating growing investor confidence. MultiversX's implementation of sharding, which allows for over 100,000 transactions per second, sets it apart from competitors like Bitcoin and Ethereum. The platform's capped token supply, robust DeFi use cases, and forthcoming upgrades contribute to its market appeal. Additionally, MultiversX has partnered with Alibaba Cloud to expand into Asian markets and has gained momentum on the South Korean exchange Upbit. Its inclusion in Coinbase's COIN50 Index and the listing of MultiversX on Coinbase further affirm its institutional confidence. Market data analysis predicts that EGLD could trade between $60 and $70 by 2024, driven by technological advancements, partnerships, and market sentiment. However, in a bearish scenario, EGLD could retrace to the $40 to $45 range. Overall, MultiversX's focus on scalability and security positions it for sustained long-term growth.

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