- Elrond, the technology ecosystem for the new internet, has gained public praise for its lightning-fast transaction speeds
- Elrond has announced a strategic partnership with Alchemy Pay, opening up ELDG to over 200 million merchants in 65 countries and regions
- Citizens of the US can now purchase Elrond directly via credit card from the Maiar app
- To involve its community after the KuCoin listing, Elrond launched a $30,000 KuCoin trading competition
Elrond is a highly scalable, fast, and secure blockchain platform designed for distributed apps, enterprise use cases, and the new internet economy. The network supports the deployment of smart contracts, dApps, and even entire blockchains.
The project has been hailed for its breakneck transaction speeds by using sharding. Since its launch in 2017, numerous projects and enterprises have integrated and used the technology Elrond creates. So, how has Elrond fared in recent times?
Recent Developments
Elrond has had a plethora of recent developments in September. First, Elrond recently announced a partnership with Alchemy Pay, a payment solution for aggregating both crypto and fiat assets. Alchemy Pay lets users transact via virtual credit cards, point of sale (POS), web interfaces, and mobile apps.
The partnership will see Alchemy Pay integrate Elrond (EGLD) into the crypto to fiat payments network. Alchemy currently has over 300 fiat and cryptocurrency gateways with over 200 million merchants in 65 countries and regions.
On September 13, Elrond announced that KuCoin, a secure crypto exchange, had listed EGLD. Deposits, withdrawals, and trading of EGLD is currently active on KuCoin.
In addition to the listing, KuCoin completed the full integration of its systems with the Elrond Network mainnet. As a result, ”KuCoin is thus technically prepared for listing ESDT” (Elrond Standard Digital Token).
Prior to the announcement, citizens of the United States were opened up to direct Elrond (EGLD) purchases via credit cards. Elrond purchases are available in all US states except Louisiana, New York, and Texas, thanks to a partnership with MoonPay.
Future Events
Elrond Network has announced that it is the blockchain technology partner of Unfinished Festival 2021. The online event scheduled for October 24 to October 31, 2021, will see the international community gather to seek ways to “advance society through more meaningful, transparent, and trustworthy exchanges of ideas and experiences.”
The last months of the year will be interesting for the Elrond community with the introduction of the Maiar App and the Maiar Exchange economic engine. DeFi season is upon the Elrond Network.
Elrond will be moving to internet-scale DeFi with the Maiar App, a web extension for Chrome, Brave, and other Chromium browsers that act as a companion for Elrond dApps. The Maiar App will launch before the Maiar Exchange, a decentralized exchange automated market maker.
After Elrond enters the DeFi space, the project will be looking to integrate DeFi 2.0 into its network. When that is done, lending and synthetics will be available on the Elrond network.
Price Updates
Elrond has been one of the strong performers in the crypto market. Over the last 30 days, EGLD has gained more than 60%, moving from $147.8 to $244.74.
The 30-day price chart of Elrond (EGLD). Source: Tradingview
Over the last 24 hours, EGLD has dropped by 0.96%. EGLD now trades at $244.74 and has a market cap of $4.77 billion, making it the 37th largest crypto.
On The Flipside
- Elrond has faced some technical challenges with its wallet
- There have been several reports of failed transfers and freezing wallets among members of the community
Community
While the MainNet of Elrond launched just over a year ago, the project has built a massive following of firm believers. On Twitter (NYSE:TWTR), Elrond boasts over 327k followers. And the DailyCoin team discovered the community members were very pleased with the project as well as its future prospects.
One Twitter user, @Better_luck8383, wrote about Elrond;
The Project will be a huge success thanks to a strong and dedicated team, and of course an excellent product! Great idea.@D_love_3 @tajrulislam09 @JuhanJalil— Crypto planet (@Better_luck8383) September 18, 2021
@MulleyHawk shared his thoughts why Elrond stands apart from other crypto projects:
Please retweet to show why we are all going crazy about #Elrond #EGLD pic.twitter.com/xUT5ptRqUU— Cryptoptimist (@MulleyHawk) September 17, 2021
Another user, @Maiar_Otherside, shared his bullish prediction about Elrond, writing;
$EGLD is unstoppable If I ever reach 1M$ in net worth with #Elrond, I'm tattoing its symbol on my left shoulder. pic.twitter.com/kze9fi2Uqf— Alex Herotag @otherside (@Maiar_Otherside) September 10, 2021
In addition, Elrond has some of the highest community involvement among crypto projects. To involve its community after the KuCoin listing, Elrond launched a KuCoin trading competition.
The competition, which offers up to $30,000 in EGLD prizes, will increase the community involvement of the Elrond project. At the announcement, a Twitter user, @patchlead, wrote;
This is a great way for more people to discover Elrond, well done team.— patchlead (@patchlead) September 17, 2021
Why You Should Care?
Elrond is a fast-emerging platform with a lot of prospects for the future. In addition, Elrond has entered interesting partnerships that expand the possibilities for further technological developments.
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