Elrond price prediction: Will it surge in 2022?

Despite depreciating recently, EGLD price predictions expect the coin to start rising

Elrond logo on a blue price graph                                 
Optimistic EGLD price predictions forecast the coin to reach $500 by the end of 2022 – Photo: Shutterstock
                                

The Elrond blockchain and EGLD cryptocurrency have advantages over many of its rivals. It is faster, secure and highly decentralised, with more than 2,000 nodes. An EGLD price prediction will vary depending on who you ask, but there is a consensus that the coin has a bright future ahead.

Elrond was founded in 2017 by Romanian brothers Beniamin and Lucian Mincu, who wanted to improve upon the current blockchains. Its mainnet was launched in 2020 and has recently been upgraded by the team.

The latest venture from Elrond is into the world of DeFi with stablecoins, bridges and more. But this has yet to be translated into an EGLD breakout. 

Elrond price history

Elrond first launched an ERC-20 and BEP-2 token, ERD, in November 2019, but it minted its own mainnet token, which accompanied the launch of the Elrond blockchain in September 2020. On 5 September, the new Elrond token (EGLD) went live at $17.20. Over the next three months, EGLD fluctuated around the initial launch price.

Towards the end of 2020, the Elrond cryptocurrency started a bullish trend that stayed with the coin for the next few months. On 4 December, Elrond announced its own digital wallet and payment platform called Maiar, another name taken from the works of JRR Tolkien. Elrond said Maiar would provide users with financial services such as payments, investments, and passive earning.

Maiar differs from the usual crypto wallet, as no complex passwords are needed. Instead the blockchain uses a phone number to create a wallet address. If users do lose their phone, a recovery phrase can be used to get hold of the lost funds. Users can add other security methods as well, such as a pin and biometric authentication.

Maiar was one of the first apps developed on the Elrond blockchain and it proved to be a success with investors. EGLD climbed above the $20 mark by the end of December and raced to $63.55 on 31 January 2021, the launch date of the Maiar app. The price of EGLD did not stop there, surging eightfold in the first nine days of February, peaking at $196.02.

EGLD began to settle down after 9 February, correcting to $140, which it roughly stayed at until the end of March. However, Elrond revealed that month its Maiar platform would soon support bitcoin, which pricked the ears of investors.

The token started climbing again at the beginning of April, backed by updates to the protocol and new real world uses. A new partnership with Shopping.io was revealed on 6 April that allows American shoppers to pay for goods with EGLD. Five days later, the price rocketed to $239.  

After the peak, it did not look so hopeful for EGLD. The price dropped dramatically over the next five months. falling below the $100 mark in May and reached its lowest point of the bearish trend on 22 June at $59.

The momentum picked up again in September, which saw the Elrond cryptocurrency pass $200. EGLD saw an initial spike on 14 September when it listed on the KuCoin exchange. This was just a taste of things to come.

EGLD was extremely bullish over the following months and surged to its all-time high of $542.58 on 23 November. This came after Elrond announced an incentive scheme to use its Maiar decentralised exchange (DEX). $1.29bn was distributed to users of the DEX who provide liquidity in EGLD, USDC and MEX, the Maiar Exchange token.

The price of Elrond has crashed since the exchange event, plummeting below $150. It has recently started rallying again, however. This came as a new update launched on the blockchain and was subsequently integrated on Binance.

The blockchain also announced new DeFi features in March, including its own NFT standard along with stablecoins, swap protocol, and bridges. On 10 April, the co-founder Lucian revealed the bridge to Ethereum and EVM chains was almost ready.

Despite sustaining a price above $100 for all of April, EGLD proved to be vulnerable to May's crypto crash and fell below this key psychological barrier. 

It has recently been listed on the Hong Kong-based LBank cryptocurrency exchange. But this has not been realised into a price rally and at the time of writing, on 1 June, elrond is trading around $78, down 10% in a recent seven-day peroid.

Elrond price prediction

Elrond’s unique protocol and sharding method is what gives the blockchain an edge over its rivals. CoinPedia expects the price of EGLD to rise if Elrond continues to concentrate on enhancing its scalability and the crosschain capabilities of the platform. Its optimistic Elrond price prediction for 2022 says the new updates could catapult EGLD a new all-time high of $720. CoinPedia said the coin could reach $964.95 in five years’ time.

Not everyone is hopeful with the EGLD price prediction. WalletInvestor describes the cryptocurrency as a “bad” long-term investment. It forecasts a continual climb for EGLD, which, it said, should drop to $4.25 by the end of 2022. Its Elrond price prediction for 2025 is for the coin to fluctuate around $1.

Meanwhile, a gradual climb is expected by PricePrediction. It estimates EGLD will come close to $150 by 2023 and surpass $900 by 2028. Its Elrond price prediction for 2030 is a whopping $1,950.84.

Meanwhile, DigitalCoinPrice expects it to take six years before the coin can climb above the $200 barrier. Its Elrond coin price prediction estimates the gradual increase will continue and reach $360 by 2030.

Gov.Capital does not think it will take nearly as long for EGLD to break past $300. Its Elrond crypto price prediction forecasts the cryptocurrency should hit $689 in a year and a staggering $5,354 in 2027.

Although the price predictions differ, there seems to be an agreement that there is definite growth potential for Elrond. All of the price predictions listed expect it to break its own price records over the coming years.

FAQs

It could be. Elrond has come a long way since its launch price of $17.20. It saw multiple bullish trends last year that culminated in an all-time high of $542. Despite the recent correction, the consensus among EGLD price predictions is for the coin to keep growing over the following years. Remember, you should always do your own research before investing in any cryptocurrency.

It might. The Elrond price predictions from experts vary but all have one thing in common: The price will continue to grow. Gov.Capital expects it to pass $5,000 in 2027 while WalletInvestor forecasts EGLD to fall to $1. Investors should always be cautious as the cryptocurrency market can be extremely volatile.

It depends. Elrond saw huge momentum at the end of 2021, which resulted in an all-time high of $542. But EGLD has plummeted since then. Investors should never invest more than they can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image