Hey crypto enthusiasts! Have you been following EGLD? This little token from MultiversX has been creating quite a stir in the market in the recent past. With a 1. in the last 24 hours, EGLD is now trading at a sweet $25 which is 85% higher than the price it was trading at yesterday. 24. However, is it just another pump or there are other things to it?

Oh, come on, let’s look at it in pieces, shall we? The total supply to market capitalization of EGLD is now at $689,929,221 putting the asset at position 83 among other cryptocurrencies. Pretty good for a project that isn’t a well-known staple. . . yet. There has also been a good pickup in the trading activity as it has increased by 7 percent. 70% to $ 16 453 479 during the last day. It appears that more people are beginning to care about this rather obscure gem.

Now, let’s talk tokenomics. Currently, there are 27,330,961 EGLD tokens in circulation, which is 87% of the total tokens in the market. The total supply of EGLD is limited with a max supply capped at 31,415,926 which is what investors consider as scarcity. Is this scarcity the reason behind the current price hike?

But what the heck is MultiversX anyway? Well, these guys are serious as a heart attack and not for nothing. It is creating a high-performance blockchain platform that is all about efficiency, speed, and security. We’re talking distributed apps, business applications and solutions, and the new internet economy thingamajig. Sounds pretty ambitious, right?

The recent increase in EGLD’s price can be therefore attributed to the signal that the market is beginning to wake up to the potential of MultiversX. With more firms and developers on the lookout for effective blockchain solutions, such propositions as MultiversX may gain popularity.

But let’s not get carried away with this here. Crypto market is as stable as a Jenga tower during an earthquake. It means that what is popular at the moment might be extremely unpopular the next. Thus, EGLD’s recent performance is great, but it is always recommended to conduct research and make the right investments.

On the bigger picture, the recent rise in EGLD price could be the beginning of something greater. Or they could be a few minutes of fame. It is anybody’s guess at this point. However, one thing is clear – MultiversX and its EGLD token are something you should definitely follow as the crypto sphere spins.

Well, there you have it, folks So, what do you think? Will EGLD be the next cryptocurrency sensation or just another hype around it? As the saying goes, the only thing that is certain is time, but it is going to be a great spectacle!