Elrond (now rebranded as MultiversX) has continued to make strides as a scalable and secure blockchain platform for decentralized applications (dApps) and decentralized finance (DeFi). With its focus on high-speed transactions, low-cost operations, and interoperability, the platform has garnered considerable attention from both investors and developers. However, with EGLD trading at $29.24 at the time of writing, many investors are wondering: Will EGLD reach $100 this year? What does the future hold for Elrond’s price over the next several years?
As of November 2024, MultiversX (EGLD) has seen some positive movement, appreciating by over 10% in the last 24 hours and jumping 23.71% in the past week. The current price sits at $29.24, with a market cap of approximately $805 million. Despite these recent gains, EGLD still faces significant price volatility.
If the bullish sentiment persists, EGLD could break through resistance levels and potentially test highs of $36.25. Conversely, a trend reversal could pull the price back to support levels around $24.00. For November, the potential price range for EGLD is expected to be between $24.00 and $36.25, with an average price around $30.12.
Looking ahead to 2024, the price of EGLD could see considerable movement depending on the success of Elrond’s ongoing developments and the broader market conditions. If the network’s team focuses on enhancing its ecosystem, partnerships, and community, the EGLD price could surge to a maximum of $67.93 by the end of 2024. This would represent a substantial increase from its current price.
However, if regulatory challenges or market volatility hinder the platform’s growth, EGLD could see a significant downturn. In such a case, the price might drop to a low of $21.14. On average, 2024 could see EGLD trading at around $49.53.
For 2025, the MultiversX network is expected to continue its focus on improving scalability, interoperability, and transaction speeds, which could lead to an increase in EGLD’s price. If successful, EGLD could rise to a maximum price of $98.18. However, should the market continue to face volatility or lack significant positive catalysts, EGLD’s price could settle around $62.08, with a low of $55.99. The average price for 2025 could therefore hover around $62.08.
Looking further ahead, the long-term outlook for EGLD appears promising, as the network is focusing on its multi-year vision to become a key player in both the DeFi space and the emerging Metaverse.
2026: The potential low for EGLD could be around $81.26, with a high of $135.20. The average price for this year is expected to be $108.23.
2027: By 2027, EGLD might reach a price as high as $163.83, with a low of $110.20. The average price is expected to be $142.01.
2028: The price of EGLD could rise further, with a potential high of $187.54 and a low of $144.38. The average price for 2028 could be around $165.81.
2029: If the platform continues to gain traction, EGLD could surge to a potential high of $211.06, with a low of $179.66. The average price could reach $195.36.
2030: By 2030, EGLD’s price might peak at $252.68, with a low of $205.81. The average price could reach $229.34, reflecting its growing influence in the blockchain and DeFi sectors.
Several market research firms have provided their price forecasts for EGLD:
The rebranding of Elrond to MultiversX has positioned the platform as a key contender in the DeFi and Metaverse sectors, offering strong scalability, speed, and security. The EGLD price has demonstrated growth potential, and with the right technological advancements and market conditions, it could see substantial gains over the next several years.
While the immediate future for 2024 presents both risks and opportunities, EGLD’s long-term prospects are promising, with a potential to reach as high as $252.68 by 2030. As always, investors should consider market volatility and conduct thorough research before making any decisions.
Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.
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