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If you have checked the charts today, you might have noticed that eGold is one of the few pumping coins:
Why does it pump when most of the other coins are dumping?
- Short answer: EGLD has been listed on Bithumb, one of the leading exchanges in South Korea.
- Longer answer: farms on Maiar DEX are lucrative, with APR up to 219% on the liquidity pair EGLD-USDC. Even if EGLD dumps, it will be amortized by USDC. And the impermanent loss is compensated by the nice APR. There are not so many protocols currently offering the same APR vs USDC with a coin which is in the top 50 and hence much more secure than some weird coins that you can find in other DeFi protocols. Furthermore, Maiar DEX has never been hacked (you can check their audit report, risk seems to be very limited) and Elrond transactions are fast and cheap.
Will it continue to pump?
- Short answer: it will continue to pump a bit due to the Bithumb effect, and might then retrace slightly for a few days before pumping again.
- Longer answer: in the longer term, EGLD could be a good bet. As Elrond blockchain offers fast transactions, they mostly target the payment apps, and recently acquired Utrust in order to "radically re-imagine" merchant payments. Do you remember that it was the first goal of cryptocurrencies? Maybe Elrond eGold could really make it, unlike Bitcoin, Ethereum and many other coins of which the transactions have become super expensive.
DYOR before investing. And if you want to buy a bit of EGLD to start and get an immediate bonus, you can use this referral link and earn $10 EGLD.
