· DeFi protocols are moving upwards
· Elrond’s price surged 437% from $52 t0 $302.14
· U.S citizens can buy EGLD tokens via the Miair app
· EGLD listed on KuCoin
DeFi protocols are experiencing a sustained move upwards. The momentum is only now picking pace after the cooling-off of the NFT sector in the past fortnight.
Elrond has been on a dynamic rise since August. Data from TradingView and Cointelegraph Markets Pro indicate that since Elrond hit a low on June 22 of $52, its price has surged 437% more, to a new high of $302.14 on Sept. 14.
One reason for Elrond’s dramatic surge is the release of the Maiar exchange, a decentralized finance protocol built on the Elrond network. It enables users to trade and provide liquidity in varying pools.
On Sept. 9, Elrond announced that United States citizens could now purchase EGLD tokens directly via the Maiar app. Maiar launched a $100,000 contest called “Battle of the Yields” to attract new clients. The contest gave users a chance to win some EGLD tokens depending on their trading volume.
Another reason for the EGLD surge was its listing on the KuCoin exchange, the fifth-largest going by its 24-hour trading volume. This saw EGLD’s 24-hour trading volume surge from $83 million to $740 million daily average on September 11.