I am wondering why MultiversX (Elrond) is struggling to get attention and its token EGLD is still so far from its All-Time-High:
It might just be the effect of the bear market like for many other cryptos, or maybe they have not developed successful dapps yet.
That's a bit intriguing since they have already developed many applications...
Here are some of the key highlights from the MultiversX blockchain explorer:
- Total transactions: 349,222,415
- Total accounts: 2,378,290
- Validators: 3,200
- Applications deployed: 6,746
- Most used applications (daily):
- Knights of Cathena: Marketplace
- XOXNO: Marketplace
- xExchange: Fees Collector
- Knights of Cathena: Rewardpool
- System: Staking Module
Most transacted NFTs (daily):
- CathenaChests (CCHEST-b01e60)
- xPortalAchievements (XPACHIEVE)
- MPHtoXMPH (MPHTOXMPH-4aed0e)
- HomeXTickets (HOMETICKET-257a32)
- Sheep (SHEEP-2695f5)
Most transacted tokens (daily):
- WrappedEGLD (WEGLD)
- MEX (MEX)
- CITEM-bdf5f1
- CathenaGold (CGO)
- WrappedUSDC (USDC)
MultiversX offers a variety of features and tools to make it easy to build and deploy dapps, including:
- Smart contracts: MultiversX supports smart contracts written in Solidity and Rust.
- Integrated development environment (IDE): The MultiversX IDE is a web-based IDE that makes it easy to develop, test, and deploy smart contracts.
- API documentation: The MultiversX API documentation provides comprehensive documentation for the network's API.
So, why has it not really taken off yet? Maybe because it's not EVM compatible like Avalanche and not as powerful as Solana... Despite this lack of visibility, EGLD might be a good bet for the next bull run...
Disclaimer: This is not financial advice.
