Blockchain as a Tool for a New Internet Economy and Elrond Price Prediction for 2024-2030

The modern economy is on its way to becoming a virtual system, utilizing the Internet as its core infrastructure to reach customers and expand markets. Hence, business activities are primarily based on information, connectivity, and applications. In other words, information and data are essential for this Internet economy.

Telecommunications and networking technologies have been fundamental for globalization, significantly reducing international boundaries. This process has fostered digital economy development and innovation in business processes. Businesses operating in the digital economy utilize networking technology to process Internet-based transactions securely.

However, in most cases, transactions between buyers and sellers take place through intermediaries. Hence, many businesses are redesigning their online-transaction infrastructure to allow peer-to-peer (P2P) interactions. Blockchain, the same technology used in most cryptocurrencies, can be the tool to shift toward a new Internet economy with P2P transactions.

The interest in blockchain for the new Internet economy is growing, and many companies are looking to adopt this technology. Decentralization, improved data transfer security, and transparency are some of the benefits of blockchain. These features will create an environment of trust around distributed companies that use the Internet for business transactions.

Moreover, blockchain allows the use of smart contracts, which will automate business operations worldwide. Blockchain will likely transform the different aspects of the digital economy, such as supply chains and financial services. It will also create alternative sources of capital, making loans and funding more easily accessible to start-ups and small businesses.

Elrond, a Blockchain Project for the New Internet-Based Economy

Elrond is a blockchain protocol aiming to deliver extremely fast transaction speeds through sharding. This project’s mainnet was launched in July 2020. Elrond seeks to become a technology ecosystem for the new Internet-based economy, comprising fintech, decentralized finance (DeFi), and the Internet of things (IoT).

Elrond is also a platform for the execution of smart contracts, with a capacity of 15,000 transactions per second and six-second latency. This platform is quite affordable for users, costing $0.001 per transaction. The Elrond network rewards active participants with its native token, Electronic Gold (EGLD).

The EGLD token is the medium of exchange between users and validators on the Elrond platform. This token also powers smart contracts and decentralized applications (DApps). Moreover, EGLD holders can vote on network decisions. As of November 28, 2022, EGLD traded at around $43, ranking #34 on the list of most valuable cryptocurrencies per market capitalization, according to CoinMarketCap.

Elrond (EGLD) Price History

The EGLD token began trading on September 4, 2020, at $17.7. Soon after, this token’s price dropped below the initial price until mid-December 2020. Then, the EGLD price increased rapidly, reaching $195.9 on February 9, 2021. Although the price dipped again, it soared to $237.6 on April 11, 2021.

However, EGLD failed to retain its value and dropped to $61.6 on June 25, 2021. The EGLD price increased again, reaching its all-time high on November 23, 2021, at $542.6. After such an impressive rally, the price dropped sharply, ultimately ending 2022 at $238.7. This downtrend continued in 2022. By mid-June, the EGLD token traded below $50. As of January 7, 2024, the EGLD price was around $48.

Elrond Price Prediction for 2024

The EGLD price will rebound in 2024, reaching an average of $46.4, according to TradingBeast. For its part, WalletInvestor forecasts an average price of $49.5 for that year. Others are even more optimistic. For instance, DigitalCoinPrice expects the EGLD price to climb above $100 in 2024, reaching a maximum of $114.7 that year.

Elrond Price Prediction for 2025

Price predictions for 2025 are not consistent. For example, TradingBeast forecasts a maximum EGLD price of $62.7 in December 2025. In contrast, WalletInvestor expects this token price to collapse to an alarming price of $0.8. For its part, DigitalCoinPrice predicts a maximum EGLD price of $140.3 that year. Such significant differences in price predictions indicate the EGLD token will suffer from extreme volatility in 2025.

Elrond Price Prediction for 2030

The long-term future of the EGLD token is not clear either. TradingBeast predicts a maximum EGLD price of $34.5 in 2030, whereas WalletInvestor forecasts $19.4 for the same period. There are optimistic predictions also. For example, DigitalCoinPrice expects the EGLD price to reach $140.3 in 2030.

Summary

Elrond is a blockchain project with an exciting development proposal. Its native token, EGLD, had an impressive performance in previous years.  However, the future of this digital asset is uncertain. Price predictions vary greatly, from a bleak future to moderate growth in the coming years. Hence, you should carefully research this token beyond only price predictions before investing in it.

FAQs

Is Elrond a good investment?

It is not easy to answer. In the short term, the EGLD price will likely suffer from much volatility. In the long run, this token’s price might have moderate growth. It might be a good option for your investment portfolio if you tolerate the associated risk.

Where can I buy the EGLD token?

Several exchanges list EGLD for trading. However, you can use LetsExchange.io to benefit from competitive rates. Our platform is easy-to-use, and you do not need to register to trade cryptocurrencies.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.

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