MultiversX (EGLD) is currently trading at $13.73, with a 24-hour trading volume of $76,656. Over the past day, the price has decreased by 3.44%, while showing a positive weekly gain of 5.61%. With a circulating supply of 28,395,464 EGLD, the market capitalization stands at $388.11 million, ranking it #92 among cryptocurrencies.
Key Metrics and Performance
- Current Price: $13.73
- 24h Trading Volume: $76,656
- Market Cap: $388.11M
- Circulating Supply: 28,395,464 EGLD
- Max Supply: 31,415,926 EGLD
Recent Price Changes
| Period | Change | Percentage Change |
|---|---|---|
| Today | -$0.51 | -3.51% |
| 7 Days | +$0.72 | +5.54% |
| 30 Days | -$2.26 | -14.09% |
| 3 Months | -$3.96 | -22.35% |
Understanding MultiversX (EGLD)
MultiversX, formerly known as Elrond, is a blockchain protocol designed to provide extremely fast transaction speeds through a process called adaptive state sharding. The network aims to become a decentralized ecosystem for applications and enterprise use.
EGLD Price Conversions
Here’s how 1 EGLD converts to various global currencies:
- USD: $13.73
- EUR: €11.65
- AUD: $20.93
- KRW: ₩18,703.17
- JPY: ¥1,981.67
- GBP: £10.05
- INR: ₨1,173.89
- IDR: Rp222,418.3
- CAD: $18.66
- RUB: ₽1,083.48
Historical Price Performance
All-Time High and Low
MultiversX (EGLD) reached its all-time high of $542.57, which means the current price is down approximately 97.47% from that peak. Conversely, the all-time low stands at $6.54, putting the current price about 109.82% above that lowest point.
Investment Potential of MultiversX (EGLD)
The future potential of any cryptocurrency project often hinges on strategic partnerships and ecosystem growth. MultiversX has demonstrated promise through collaborations with various sector players and traditional industries. These partnerships could drive increased adoption of the network and enhance the value of EGLD as a digital resource.
Additionally, the development and deployment of more decentralized applications (dApps) on the MultiversX network could attract more users, boosting on-chain activity and potentially supporting the price of EGLD. As more developers and users join the ecosystem, the utility and demand for the token may increase.
Finally, broader market conditions play a significant role. A bull run in the cryptocurrency market could encourage increased buying activity for EGLD and push its price into an upward trend. Positive market sentiment often boosts investor confidence and attracts more capital into altcoins.
ERD vs. EGLD: Understanding the Transition
The EGLD token became the native digital asset of the MultiversX ecosystem following the mainnet launch in July 2020. The original native token, ERD, was an ERC-20 and BEP-2 token on the Ethereum and Binance chains, respectively. In September 2020, the development team introduced EGLD (Elrond Gold) as an upgraded version.
Token holders were advised to use the official Elrond bridge to swap their ERD tokens for EGLD at an exchange rate of 1,000 ERD to 1 EGLD. This transition was part of Elrond's effort to create a robust digital currency and strengthen the digital economy.
One key difference between ERD and EGLD is the maximum supply. While ERD had a total supply of 20 billion, EGLD has a fixed maximum supply cap of 20 million tokens.
How to Stake EGLD
Staking EGLD tokens is possible through the official MultiversX wallet, allowing participation in the network's consensus mechanism. In return for helping secure the network, stakeholders can earn attractive rewards and grow their EGLD holdings. Here’s how to stake EGLD:
- Create an Account: Start by setting up an account on the official MultiversX wallet.
- Become a Validator: To run a validation node, you need to stake a minimum of 2,500 EGLD through the wallet.
- Delegate for Smaller Amounts: If your holdings are smaller, you can delegate your tokens to other validators. Delegation requires a minimum of just 1 EGLD token.
- Fund Your Wallet: Purchase EGLD on a supported exchange and transfer your tokens to your MultiversX wallet.
- Choose Staking Method: Decide between delegating or validating.
- Delegate Tokens: Under the delegate option, enter the amount of EGLD you wish to stake and select a validator. Confirm the transaction by clicking "Stake."
- Validate Tokens: Under the validate option, choose a staking provider, enter the amount, wait for confirmation, and finalize the transaction.
- Earn Rewards: Once staked, you can sit back and earn EGLD rewards over time.
For those looking to explore advanced staking strategies and real-time tools, consider checking out comprehensive staking guides.
Storing MultiversX (EGLD) Securely
You can store your EGLD tokens in various ways:
- Hosted Wallet: Keep your EGLD on a cryptocurrency exchange without worrying about private key management.
- Non-Hosted Wallet: Use browser, mobile, or desktop wallets for greater control.
- Hardware Wallet: Store EGLD on physical devices for enhanced security.
- Paper Wallet: Maintain a physical record of your keys for cold storage.
- Third-Party Custody: Use professional custody services for large holdings.
Converting EGLD to Cash
To convert your EGLD into cash, follow these steps:
- Sell EGLD for Stablecoins: First, sell your EGLD on a spot market for USDT or another stablecoin.
- Use P2P Services: Exchange your stablecoins for local fiat currency through peer-to-peer platforms.
- Direct Fiat Pairs: Some exchanges offer direct trading pairs between EGLD and certain fiat currencies. Locate a supported pair and trade directly.
👉 Explore efficient conversion methods for turning your crypto assets into cash seamlessly.
Frequently Asked Questions
What is MultiversX (EGLD)?
MultiversX is a blockchain platform designed for high throughput and scalability. Its native token, EGLD, is used for transactions, staking, and governance within the ecosystem.
How can I track EGLD's real-time price?
You can monitor EGLD's real-time price using various cryptocurrency tracking platforms that provide live updates, market cap, volume, and other key metrics.
Is staking EGLD profitable?
Staking EGLD can be profitable, offering rewards for participating in network validation. Returns depend on the amount staked, network conditions, and validator performance.
What factors influence EGLD's price?
EGLD's price is influenced by market demand, ecosystem developments, broader cryptocurrency trends, partnerships, and overall investor sentiment.
Can I use EGLD for everyday transactions?
While EGLD is primarily used within the MultiversX ecosystem, some merchants and platforms may accept it as payment. Its use cases continue to expand with adoption.
How does MultiversX achieve high scalability?
MultiversX uses adaptive state sharding, which splits the network into multiple shards to process transactions in parallel, significantly increasing throughput and reducing latency.