Elrond: Decoding reasons behind EGLD's attempts to rally

Elrond, a fast, scalable smart contract blockchain network witnessed an impressive amount of traction this week. In fact, the EGLD token's price jumped by 9% over the last 24 hours of 3 July to tade around the $50 mark.

Timeline of Elrond-egld

Cantina Royale and Elrond Apes are teaming up to enhance the appeal of the upcoming top-down tactical arcade shooter with play-to-earn mechanics. Elrond Apes NFTs will be featured in the game and become usable across single and multiplayer battle modes.

Vaduz, Lichtenstein, 28th June, 2022, Chainwire Cantina Royale and Elrond Apes are teaming up to enhance the appeal of the upcoming top-down tactical arcade shooter with play-to-earn mechanics. Elrond Apes NFTs will be featured in the game and become usable across single and multiplayer battle modes.

The first half of 2022 has been one of the worst periods for cryptocurrencies. Since the beginning of the year, significant tokens such as Bitcoin (BTC) and Ethereum (ETH) have declined by 40% to 50%, indicating a bear market 2022.

On June 19th, the Elrond(EGLD) price gave a bullish breakout from a two-and-a-half-month-old resistance trendline. Furthermore, the buyers' failed attempt to surpass an immediate resistance of $56.3 could result in a retest reversal to the descending trendline.

Elrond EGLD/USD is a blockchain protocol that offers high transaction throughput and speed due to the fact that it utilizes sharding. The blockchain has a native cryptocurrency token that's dubbed eGold and uses the ticker symbol EGLD.  The cryptocurrency is mainly used for the payment of network fees, for staking, and for rewarding the validators The post Elrond's future after ICI Bucharest utilization appeared first on Invezz.

Key takeaways: Binance has stopped deposits and withdrawals of EGLD to investigate what it calls a potential security issue on the Elrond Network. Yesterday, a hack was reported on the Elrond Network resulting in the loss of $1.65 million worth of EGLD that was later sold on the Maiar Decentralized exchange, causing a 92% price drop on the DEX.

EGLD just concluded the first week of June on a bearish note, after dropping by roughly 25% from end-of-May levels. A close look at its price action reveals that it is now trading at a critical support level that might be critical in the next few weeks.

Elrond (EGLD) CEO Beniamin Mincu tweeted about “suspicious activities on the Maiar DEX” on June 6. The post Suspected exploit shuts down Elrond's Maiar DEX appeared first on CryptoSlate.

The new descending trendline carrying the ongoing downfall plunged the (Elrond)EGLD price to a low of $076.1. Following, the altcoin shows a minor pullback, but the decreasing volume activity suggests weaknesses in the bullish moments.

Retiring early is everybody's dream but it requires careful planning so you can have enough funds to sustain a comfortable lifestyle. Tezos (XTZ), Quitriam Finance (QTM), and Elrond (EGLD) are three cryptocurrencies that can help you in realizing huge gains to plan for this future.