$EGLD This morning, I took a look at the spot decline list, and this coin has a slight drop.
So, is this spot worth investing in?
Let’s listen to Brother Yong analyze it for everyone.
Can this coin be bought?
It can be bought, but it depends on the risk tolerance of the brothers. EGLD is the token of the Elrond blockchain, technically it has highlights, such as sharding technology that makes transactions fast and cheap, suitable for long-term holding. But the market is volatile, and in the short term, it might be trapped, so brothers need to prepare mentally.
Why can it be bought?
Strong technology, fast and cheap processing
Elrond uses “sharding technology” to divide the network into smaller pieces, processing speed is much faster than Ethereum, and transaction fees are low to the point of being almost negligible. This is very practical for daily transfers and small payments, and may attract more users and projects in the future.
The more the token is used, the less there is, which might increase the price
EGLD has a fixed total supply, and a portion is destroyed each year, such as transaction fees being burned, reducing supply. If demand increases, the price may be pushed up. Additionally, it can be staked for interest, and long-term holding may yield extra returns.
The ecosystem is getting lively, with more users
More and more DeFi and NFT projects are emerging on Elrond, such as decentralized exchanges and games. With more users, there naturally is a need for more #EGLD . Recently, there has been cooperation with Binance and Huobi, increasing exposure and naturally driving demand.
What does the future trend look like?
In the short term, it may rise and fall with the market, for example, if Bitcoin rises, it may rise too, but it is highly volatile, so caution is needed. In the long term: If the technology stabilizes and the ecosystem continues to expand, the price still has potential.
This is Brother Yong’s view on this coin. The market trends do not believe in fancy words; only by following precise strategies can one tap into the pulse of wealth and position themselves ahead of the bull market🤔! Some may wonder, why can you do it yourself, and why share it? Brother Yong can only say that I understand the principle of 'trees planted by predecessors benefit later generations'.
Focus today: OM SUI SOL FUN BTC
