MultiversX Price Prediction, will EGLD’s price hit $37.44?
MultiversX’s price at the same time last week was $45.23. It has moved by 15.83 % in the past week and is currently at $50.23. Infact, in the past 24 hours, EGLD has dumped by -1.49 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and EGLD could hit $37.44 in 2024.
The total circulating supply of MultiversX as of writing this article was $26,286,805 and the marketcap of EGLD remains at $1,320,929,423
Disclaimer
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
About MultiversX
MultiversX (EGLD): An overview
Source: Multiversx.com
Formerly known as Elrond, MultiversX (EGLD) is a blockchain network that has set itself apart with its high scalability, security, and cost-effectiveness. Initially designed to compete with major players like Ethereum (ETH), it uses Layer 1 sharding and smart contracts to address scalability challenges.
This technology allows the platform to process approximately 30,000 current transactions per second (TPS) with a 6-second block time. Moreover, the cost can be as low as $0.001. It can also scale beyond 100,000 (263,000 TPS in testnet).
In November 2022, the company rebranded to MultiversX to focus on the burgeoning metaverse market, aiming to become a foundational layer for new decentralized applications (dApps) in this expanding digital realm.
Ecosystem
The MultiversX ecosystem encompasses a variety of platforms, each tailored to serve specific functions and user needs:
xExchange: Formerly the Maiar exchange, xExchange serves as the dedicated decentralized exchange (DEX) within the MultiversX ecosystem. It enables cryptocurrency trading and also features pooled staking for earning rewards.
xSpotlight: This is MultiversX's hub for Web 3.0 culture, where users can create, buy, sell, and display non-fungible tokens (NFTs). It was formerly known as Inspire Art.
xExplorer: Once called Elrond Explorer, xExplorer functions as the block explorer for the MultiversX network. Similar to Etherscan in the Ethereum ecosystem, it allows users to track transactions.
MultiversX Wallet: The native wallet of the MultiversX network, originally called Elrond Wallet, is non-custodial and integral to the ecosystem.
MultiversX Bridge: This blockchain bridge facilitates the transfer of funds from other networks like Ethereum or Binance Smart Chain to MultiversX.
xLaunchpad: A rebrand of the Maiar Launchpad, xLaunchpad enables developers to roll out Web 3.0 projects within the MultiversX ecosystem.
xPortal: A versatile super app, xPortal allows users to manage not just their cryptocurrencies and NFTs but also their digital identities.
xFabric and xWorlds: These platforms are designed to further broaden the scope of Web 3.0 and metaverse opportunities. xFabric will simplify the creation of blockchain apps, requiring no coding skills, while xWorlds aims to support multiple metaverses, establishing the first network of interoperable metaverses on the blockchain.
Together, these platforms form the backbone of the MultiversX ecosystem, each contributing unique features and functionalities to create a comprehensive blockchain network.
EGLD
Source: Multiversx.com
At the core of the MultiversX ecosystem is its native cryptocurrency, EGLD (Electronic Gold). This token serves multiple purposes: it's used to pay transaction fees, facilitate exchanges between users, and also serves as a governance token that allows holders to participate in decision-making processes within the network.
Initially, it was launched under the ticker ERD. However, after the mainnet launch in 2020, the token was renamed EGLD. EGLD has a maximum supply of 31,415,926 tokens. As of September 2023, about 25,984,305 EGLD are in circulation.
The allocation of EGLD is carefully structured to balance control and incentivization across different stakeholders:
- Public sale: 25%
- Private sale: 19%
- Team: 19%
- Company reserve: 17%
- Grants and accelerator pool: 8.5%
- Ecosystem rewards: 7%
- Advisors: 2.5%
- Community fund: 2%
The token supply will continue to increase over a ten-year period until it reaches its maximum limit, offering long-term potential for network growth and token utility.
The inner workings of MultiversX
Source: Multiversx.com
Let’s take an in-depth look at how this platform functions:
Adaptive State Sharding
Sharding is a technology that breaks down a blockchain's database into smaller parts called "shards," making it easier to manage and faster to process transactions. Traditional sharding techniques often divide the network into fixed-size shards, but Adaptive State Sharding takes it a step further by dynamically adjusting shard sizes.
In Adaptive State Sharding, the network can automatically reconfigure itself, adding or removing shards based on the volume of transactions and the number of nodes participating in the network. This enables MultiversX to scale efficiently, maintaining high throughput and minimal latency as the network expands.
Secure Proof-of-Stake (SPoS)
SPoS is an advanced version of the Proof-of-Stake (PoS) algorithm designed to enhance network security. In SPoS, validators are chosen more unpredictably compared to traditional PoS algorithms, making it much harder for malicious actors to predict and manipulate which nodes will validate transactions and create new blocks.
This ensures a higher level of security and robustness against potential attacks on the network.
MultiversX Virtual Machine
The MultiversX Virtual Machine serves as a high-speed smart contract execution engine constructed on the WebAssembly (WASM) framework. This allows smart contract developers to code in a diverse range of languages, including Rust, C/C++, C#, and TypeScript.
Network structure of MultiversX
Metachain
The Metachain operates within a designated shard, primarily tasked with notarizing and finalizing processed shard block headers. Its main functions don't center around transaction processing.
Instead, it oversees inter-shard communication, maintains a registry of validators, initiates new epochs, handles fisherman challenges, and manages rewards and slashing mechanisms.
Shards
Shards are sub-divisions within the MultiversX network, devised for effective scaling. Each shard manages a segment of the network's state — encompassing accounts, smart contracts, and blockchain operations.
This division allows each shard to process a subset of transactions concurrently with other shards, optimizing overall network efficiency.
Nodes
A node, whether it's a computer, smartphone, or server, operates the MultiversX client and conveys messages from its network peers. Depending on its role — as a Validator, Observer, or Fisherman — a node offers varying degrees of support to the network and receives corresponding rewards.
Network roles in the MultiversX ecosystem
Validator
Validators are specialized nodes in the MultiversX network responsible for processing transactions and securing the network through participation in the consensus mechanism. Validators earn rewards both from the protocol itself and from transaction fees.
To join the network as a validator, one must stake a certain amount of EGLD tokens as collateral, aligning the incentives between the validators and the network's objectives.
Observer
Observers serve as passive participants in the MultiversX network, functioning mainly as read-and-relay interfaces. They can either be Full Observers, maintaining the complete history of the blockchain, or Light Observers, retaining only the history of the last two epochs.
Unlike validators, observers are not required to stake EGLD tokens and do not receive rewards for their participation.
Fisherman
Fishermen are nodes that focus on verifying the legitimacy of newly proposed blocks. They challenge any invalid blocks that may arise due to malicious activities and are rewarded for their efforts.
The role of a Fisherman can be assumed by either validators not engaged in the current consensus round or by observers.
History of MultiversX
Source: Multiversx.com
MultiversX was created in 2017 by Lucian Todea, Beniamin Mincu, and Lucian Mincu. The three co-founders aimed to solve the blockchain scalability problem that was hampering the growth of the crypto industry.
In June 2019, the project secured $1.9 million in a private investment round. This was followed by a successful Initial Exchange Offering (IEO) that raised $3.25 million, accounting for 25% of the total token supply.
Since its launch, MultiversX has been continuously improving and innovating. An exciting development was the introduction of staking and delegation, which allows users to stake EGLD and earn rewards. The network has also been audited multiple times by renowned companies to ensure its security, transparency, and reliability.
Major developments
Source: Multiversx.com
Here’s an extensive list of MultiversX’s major developments over the years:
- In May 2018, the Elrond technical paper was published.
- In June 2018, the prototype was launched.
- In November 2018, a new website for Elrond was rolled out.
- In May 2019, the testnet was launched.
- In June 2019, Elrond secured $1.9 million in a private funding round.
- In July 2019, Elrond was selected for the Binance Launchpad.
- In October 2019, Elrond hosted the Battle of Nodes Event.
- In November 2019, Elrond entered into a strategic collaboration with Samsung.
- In June 2020, Elrond achieved 263,000 TPS in a community testnet.
- In July 2020, the mainnet was launched.
- In September 2020, the Elrond Wallet was released. Elrond transitioned from ERD to EGLD tokens as part of an economics upgrade.
- In December 2020, the Virtual Machine was released.
- In January 2021, Elrond enabled smart contracts.
- In February 2021, the Maiar App was launched.
- In March 2021, Elrond introduced Staking Phase 3.
- In September 2021, the Maiar DeFi Wallet was released.
- In October 2021, Elrond acquired TwistPay.
- In November 2021, the first project was launched on the Maiar Launchpad, and the Maiar Exchange went live.
- In January 2022, Elrond acquired UTRUST.
- In March 2022, Metastaking was launched.
- In April 2022, Metabonding was introduced.
- In May 2022, Ad Astra was launched.
- In June 2022, Elrond reached 1 million Maiar users and processed 50 million transactions.
- In September 2022, Inspire ART was launched.
- In November 2022, during X Day in Paris, the transformation into MultiversX was unveiled.
- In December 2022, Elrond reached 2 million addresses.
- In January 2023, the MultiversX Explorer was introduced, offering a new suite of key metrics to visualize hypergrowth.
- In February 2023, the new MultiversX Wallet went live.
- In March 2023, the MultiversX Bridge became operational, providing interoperability with the Binance Smart Chain.
- In May 2023, Opera completed its integration with MultiversX, enabling instant access to EGLD, eStandard digital tokens (ESDTs), NFTs, dApps, and more.
- In June 2023, Bitcoin (BTC) and Ethereum became live on MultiversX, offering near-instant transfers at a cost of $0.001 and usability in decentralized finance (DeFi) applications.
- In August 2023, Agora was introduced as the xExchange Governance Forum for community iterations, conversations, and proposals.
EGLD Price Analysis
From September 2022 to September 2023, EGLD underwent a predominantly bearish trend. The coin faced a difficult time breaching strong resistance levels, and despite brief periods of recovery, it consistently made lower highs and lower lows. At the time of writing, EGLD was trading at $27.73.
EGLD Weekly Chart
The first noticeable aspect of the chart was that $58.63 acted as a robust resistance level for EGLD starting from September 2022. The inability of the price to move above this point indicated a strong selling pressure at higher valuations, thereby reinforcing the bearish trend.
Even as the price managed to recover to $51.32 in early 2023, it failed to sustain this momentum and further declined in May 2023. A support-turned-resistance level was established at $39.60, revealing that bears were acting in full force, leaving lesser scope for bulls to enter. The lowest and most recent support level was noted at $23.96, which suggested that the coin has substantial downside risk.
The volume throughout this period remained moderate, neither too high nor too low. However, a spike in trading volume was observed in April 2023, recording 3.43 million.
Interestingly, this surge in volume coincided with the price decline that solidified $39.60 as a new resistance level. The high volume during a downward move indicated a strong selling interest, adding weight to the bearish trend.
Throughout the analysis period, the Relative Strength Index (RSI) remained below the midline of 50. Although it did momentarily inch upwards to 48.70 during a brief price recovery, it was unable to sustain this and declined back to its present level of 39.35.
The On-Balance Volume (OBV) followed the price action closely, resembling a series of mountain peaks with alternating ascending and descending momentum. This pattern in OBV suggested that there was no sustained accumulation of EGLD during the observed timeframe. The lack of a sustained uptrend in OBV paralleled the coin's failure to establish a bullish trend, serving as a further warning sign for investors.
Should you consider buying EGLD?
Based on the technical indicators analyzed, the EGLD market is dominated by sellers. The continuous southbound movement has left the price hovering near the lowest support level.
For traders who are still looking to buy, a possible entry point would be in the range of $23 to $25, close to the recent support level. However, proceed with caution, given the overall bearish outlook.
MultiversX Price Prediction
MultiversX has had an eventful 2021. To simplify the latest EGLD price prediction, we have divided up the prediction by short term MultiversX price prediction and long term MultiversX price prediction. As of writing this article, EGLD had a trading volume of 125,170,385. MultiversX has gone up by 10.87% in the past 30 days.
According to our analysis in the short term, MultiversX price prediction for February 2024 shows the average price of EGLD at 31.52 and the highest possible price for February 2024 would be $33.72.
Further, according to our analysis in the long term, MultiversX price prediction for June 2024 shows the average price of EGLD at 32.78 and the highest possible price for June 2024 would be $35.08.
MultiversX's Short Term Price Prediction
| Date | Avg Price | Lowest Price | Highest Price |
| 5 December 2023 | $45.72 | $42.52 | $48.92 |
| 6 December 2023 | $47.04 | $43.74 | $50.33 |
| 7 December 2023 | $48.77 | $45.36 | $52.18 |
| 8 December 2023 | $50.03 | $46.52 | $53.53 |
| 13 December 2023 | $53.70 | $49.94 | $57.45 |
| 18 December 2023 | $57.55 | $53.52 | $61.58 |
| 28 December 2023 | $65.78 | $61.17 | $70.38 |
MultiversX price prediction 5 December 2023: MultiversX's price for 5 December 2023 according to our analysis should range between $42.52 to $48.92 and the average price of EGLD should be around $45.72.
MultiversX price prediction 6 December 2023: MultiversX's price for 6 December 2023 according to our analysis should range between $43.74 to $50.33 and the average price of EGLD should be around $47.04.
MultiversX price prediction 7 December 2023: MultiversX's price for 7 December 2023 according to our analysis should range between $45.36 to $52.18 and the average price of EGLD should be around $48.77.
MultiversX price prediction 8 December 2023: MultiversX's price for 8 December 2023 according to our analysis should range between $46.52 to $53.53 and the average price of EGLD should be around $50.03.
MultiversX price prediction 13 December 2023: MultiversX's price for 13 December 2023 according to our analysis should range between $49.94 to $57.45 and the average price of EGLD should be around $53.70.
MultiversX price prediction 18 December 2023: MultiversX's price for 18 December 2023 according to our analysis should range between $53.52 to $61.58 and the average price of EGLD should be around $57.55.
MultiversX price prediction 28 December 2023: MultiversX's price for 28 December 2023 according to our analysis should range between $61.17 to $70.38 and the average price of EGLD should be around $65.78.
MultiversX's Long Term Price Prediction
MultiversX’s long term Price Prediction below is a look at EGLD’s future prospect with regards to price. MultiversX was last seen at $50.23, with a market cap of $1,320,929,423 and trading volumes of $125,170,385. EGLD’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
| Years | Avg Price | Lowest Price | Highest Price |
| 2024 | $31.20 | $24.96 | $37.44 |
| 2025 | $35.00 | $28.00 | $42.00 |
| 2026 | $39.26 | $31.41 | $47.11 |
| 2027 | $44.04 | $35.23 | $52.85 |
| 2028 | $49.40 | $39.52 | $59.28 |
| 2029 | $55.41 | $44.33 | $66.50 |
| 2030 | $62.16 | $49.73 | $74.59 |
| 2031 | $69.73 | $55.78 | $83.67 |
| 2032 | $78.22 | $62.57 | $93.86 |
| 2033 | $87.74 | $70.19 | $105.28 |
MultiversX price prediction 2024: MultiversX's price for 2024 according to our analysis should range between $24.96 to $37.44 and the average price of EGLD should be around $31.20.
MultiversX price prediction 2025: MultiversX's price for 2025 according to our analysis should range between $28.00 to $42.00 and the average price of EGLD should be around $35.00.
MultiversX price prediction 2026: MultiversX's price for 2026 according to our analysis should range between $31.41 to $47.11 and the average price of EGLD should be around $39.26.
MultiversX price prediction 2027: MultiversX's price for 2027 according to our analysis should range between $35.23 to $52.85 and the average price of EGLD should be around $44.04.
MultiversX price prediction 2028: MultiversX's price for 2028 according to our analysis should range between $39.52 to $59.28 and the average price of EGLD should be around $49.40.
MultiversX price prediction 2029: MultiversX's price for 2029 according to our analysis should range between $44.33 to $66.50 and the average price of EGLD should be around $55.41.
MultiversX price prediction 2030: MultiversX's price for 2030 according to our analysis should range between $49.73 to $74.59 and the average price of EGLD should be around $62.16.
MultiversX price prediction 2031: MultiversX's price for 2031 according to our analysis should range between $55.78 to $83.67 and the average price of EGLD should be around $69.73.
MultiversX price prediction 2032: MultiversX's price for 2032 according to our analysis should range between $62.57 to $93.86 and the average price of EGLD should be around $78.22.
MultiversX price prediction 2033: MultiversX's price for 2033 according to our analysis should range between $70.19 to $105.28 and the average price of EGLD should be around $87.74.
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FAQs about MultiversX
MultiversX’s current price is $50.23 and witnessed a -1.49% decrease in the past 24 hours. EGLD/BTC pair saw a -4.00% decrease in the past 24 hours
Investing in MultiversX, EGLD will purely depend on your personal risk appetite. As you can see over the past 24 hours MultiversX’s price has witnessed a -1.49% decrease and over the past 30 days MultiversX has increase by 10.87%. So it all depends on if this investment will hit your trading goals.
According to our latest MultiversX Price prediction for 2023, EGLD should vary between $53.37 and $35.58. Please keep in mind that the crypto market is very volatile and this MultiversX price prediction does not account for extreme wild swings in price.
As per the MultiversX price prediction 2023 model above, EGLD’s price for December 2023 should range between $35.58 to $53.37 with the average price for December being $44.47
According to the MultiversX Price Prediction model above, EGLD’s price in 2024 would be $31.20. This price would however would range from $37.44 and $24.96.
According to the MultiversX Price Prediction model above, EGLD’s price in 2025 would be $35.00. This price would however would range from $42.00 and $28.00.
According to the MultiversX Price Prediction model above, EGLD’s price in 2026 would be $39.26. This price would however would range from $47.11 and $31.41.
According to the MultiversX Price Prediction model above, EGLD’s price in 2027 would be $44.04. This price would however would range from $52.85 and $35.23.
According to the MultiversX Price Prediction model above, EGLD’s price in 2028 would be $49.40. This price would however would range from $59.28 and $39.52.
According to the MultiversX Price Prediction model above, EGLD’s price in 2029 would be $55.41. This price would however would range from $66.50 and $44.33.
According to the MultiversX Price Prediction model above, EGLD’s price in 2030 would be $62.16. This price would however would range from $74.59 and $49.73.
According to the MultiversX Price Prediction model above, EGLD’s price in 2031 would be $69.73. This price would however would range from $83.67 and $55.78.
According to the MultiversX Price Prediction model above, EGLD’s price in 2032 would be $78.22. This price would however would range from $93.86 and $62.57.
According to the MultiversX Price Prediction model above, EGLD’s price in 2033 would be $87.74. This price would however would range from $105.28 and $70.19.
The highest price for MultiversX was recorded in 23 November 2021 during which EGLD hit an All Time High of $545.64
The price of 1 MultiversX according to current market rate is $50.23
