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MultiversX Price Prediction 2024: EGLD Price Analysis

Last Updated February 1, 2024 1:52 PM
Giuseppe Ciccomascolo
Last Updated February 1, 2024 1:52 PM

Key Takeaways

  • MultiversX will be having an airdrop soon. 
  • EGLD’s price struggled in 2023.
  • One MultiversX price prediction says the coin can reach $72.71 next year.

The MultiversX EGLD Airdrop has emerged as a favored approach among cryptocurrency projects for token distribution to a broad audience.

Airdrops involve sending tokens or coins to numerous wallet addresses at no cost or in return for completing basic tasks, such as engaging in a social media campaign or holding a specific cryptocurrency.

These airdrops serve various objectives, including expanding token circulation, rewarding dedicated community members, and fostering awareness of the project.

By leveraging airdrops, projects can tap into a large audience and foster active engagement and involvement.

MultiversX did not respond to a request for comment.

Let’s take a look at our own MultiversX price prediction, made on July 5 2024. We will also examine the MultiversX price history and talk a little about what MultiversX is and what it does.

But what is MultiversX (EGLD)? How does MultiversX work? Let’s see what we can find out, and also take a look at some of the MultiversX Price Predictions that were being made as of July 5, 2024.

MultiversX Price Prediction

Let’s examine some of the MultiversX price predictions CCN.com made on July 5, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum EGLD Price Prediction Average EGLD Price Prediction Maximum EGLD Price Prediction
2024 $25.13 $59.45 $61.46
2025 $59.98 $69.42 $72.71
2030 $188.89 $197.49 $208.50

MultiversX Price Prediction for 2024

If the positive momentum continues and EGLD breaks above its moving averages, it could reach targets between $25.13 and $61.46 by the end of 2024, with the average price set at $59.45.

MultiversX Price Prediction for 2025

Technical analysis suggests a potential increase for MultiversX in 2025. The minimum EGLD price expected for 2025 is $59.98 while the maximum one is $72.71. On the other hand, the average forecast suggests it may reach $69.42.

MultiversX Price Prediction for 2030

Based on technical analysis, the EGLD token may reach a maximum level of $208.50 at the beginning of the next decade, while, in the worst scenario, it may go to $188.89. Meanwhile, the average expected price is $197.49.

MultiversX Price Analysis

MultiversX technical analysis
MultiversX technical analysis. l Source: Giuseppe Fabio Ciccomascolo/InvestTech

The price of MultiversX is down 6.02% in the last 24 hours and 7.58% over the past week. It has dropped 94.91% from its all-time high of $545.33 on November 23, 2021, and is down 64.49% from its 52-week high of $78.119.

The short-term trend is down, while the medium- and long-term trends are strongly down. Near-term momentum shows a bullish signal based on the MACD Signal Line crossover but a bearish signal from the RSI-14 center line crossover (RSI < 50).

The price is currently neither overbought nor oversold, with RSI-14 levels between 30 and 70.

Short Term MultiversX Price Prediction

MultiversX price prediction shows the EGLD price is expected to rise by 7% in the next 24 hours, then accelerate to $93.72 by August 4, 2024. Despite this optimistic projection, our technical indicators show a Bearish sentiment, and the Fear & Greed Index is at 29 (Fear).

Over the past 30 days, MultiversX has had 14 out of 30 (47%) green days and experienced 10.20% price volatility. Based on this forecast, it is currently not a good time to buy MultiversX (Elrond).

Polkadot Fear & Greed Index

Fear and greed indicator
Fear and greed indicator. l Source: BitDegree

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview. Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. On July 5, 2024, the Fear & Greed Index Measured 29, suggesting it’s in a strong fear zone, while the indicator for the wider crypto world is at 50, reflecting a Neutral view.

MultiversX Relative Strength Index (RSI)

MultiversX RSI
MultiversX RSI. l Source: Giuseppe Fabio Ciccomascolo/TradingView
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish.On July 5, 2024, the Polkadot RSI was at 31.8, indicating a bearish sentiment and leaving it somewhat oversold.

MultiversX Price Performance Comparisons

Current Price One Year Ago Price Change
MultiversX $27.46 $33.5263 -24%
Cosmos $5.26 $9.2073 -46%
Algorand $0.1164 $0.1135 -6.3%
Polkadot $5.23 $5.0269 -1.5%

Advantages and Disadvantages of MultiversX.

CCN.com’s Senior Research Analyst Toghrul Aliyev took a deep dive into MultiversX and found the following advantages and disadvantages.

Advantages of MultiversX

  • Robust Ecosystem : MultiversX has an extensive ecosystem, with more than 190 projects. This large network of applications and services enhances the platform’s utility and offers a wide range of solutions for users and developers.
  • Decentralized Token Distribution : The token distribution in MultiversX is quite decentralized. Considering the staking smart contract address, almost 80% of the concentration exists in the top 501 addresses. However, excluding the staking smart contract address, the situation improves significantly. The top 500 addresses hold only 26.86% of the tokens as of July 2024, which indicates a much more decentralized distribution.
MultiversX Token Distribution
Credit: Toghrul Aliyev/MultiversX Explorer
MultiversX Carbon Footprint
Credit: MultiversX
  • Moderate Inflation Rate: Looking back at historical data on CoinMarketCap  through the Wayback Machine, MultiversX has an inflation rate of 6% . Compared to other tokens, this rate is not excessively high. Although slightly higher than it could be, the 8% APY from staking outpaces inflation, providing a net positive return for stakers.
  • Very Cheap Transaction Fees: MultiversX offers very low transaction fees. Although the platform does not provide specific data, calculations based on 424,290,610 lifetime transactions  and 48,812 EGLD lifetime fees  show an average cost of around $0.0036 per transaction.

Disadvantages of MultiversX

  • Zombie Token Status : MultiversX appears to be a zombie token, currently 94.2% away from its all-time high (ATH). In a bull run where other tokens are close to their ATHs or have reached new ones, such as Bitcoin, being so far from its ATH simply shows poor performance.
  • Centralized Validator Control : The top six validators in MultiversX control over 33% of the network, resulting in a Nakamoto Coefficient of only six. This indicates a high level of centralization and raises concerns about the network’s security.
MultiversX Validators
Credit: MultiversX Explorer
  • Low Daily Active Addresses: Despite existing for a long time, MultiversX has only around 25,000 daily active addresses. Such low user engagement indicates potential difficulties in achieving widespread adoption and utility.
MultiversX Active Daily Addresses
Credit: Artemis.xyz
  • Low Transaction Throughput : MultiversX has had a low transaction per second (TPS) rate, averaging about three TPS in the last month. Such low throughput indicates inefficiency and limits the network’s ability to handle high volumes of transactions effectively.
MultiversX TVL
Credit: DefiLlama

Multiversx Price History

Following that, let’s now take a look at some of the key dates in the MultiversX price history  . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a MultiversX price prediction.

MultiversX price history
MultiversX price in 2023 and 2024. | Credit: CoinMarketCap


Time period MultiversX price
Last week (June 28, 2024) $29.6363
Last month (July 5, 2024) $39.7772
Three months ago (April 5, 2024) $54.75
One year ago (July 5, 2023) $33.5263
Launch price (August 21, 2020) $17.6688
All-time high (November 23, 2021) $490.91
All-time low (August 21, 2020) $17.6688

MultiversX Market Cap

MultiversX market cap
MultiversX market cap in 2023 and 2024. | Credit: CoinMarketCap

The market capitalization, or market cap, is the sum of the total number of EGLD in circulation multiplied by its price. On July 5, 2024, MultiversX’s market cap was $742.0 billion, making it the 72nd-largest crypto by that metric.

Who Owns the Most MultiversX (EGLD) Tokens?

On July 5, 2024, one wallet held 52.97% of EGLD’ supply.

Richest EGLD Wallet Addresses

As of July 5, 2024, the five wallets with the most MultiversX tokens were

  • erd1qqqqqqqqqqqqqqqpqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqplllst77y4l. This wallet held 16,640,610 EGLD, or 52.97% of the supply.
  • erd1rf4hv70arudgzus0ymnnsnc4pml0jkywg2xjvzslg0mz4nn2tg7q7k0t6p. This wallet held 2,933,373 EGLD, or 9.34% of the supply.
  • erd1fcxu3f0hlxyvnp7zvuqmf34zf5w782tst6vuqhm4dwq4ayjspdaqce0q49. This wallet held 724,778 EGLD, or 2.31% of the supply.
  • erd1qqqqqqqqqqqqqpgqhe8t5jewej70zupmh44jurgn29psua5l2jps3ntjj3. This wallet held 331,265 EGLD, or 1.05% of the supply.
  • erd1qqqqqqqqqqqqqpgqvc7gdl0p4s97guh498wgz75k8sav6sjfjlwqh679jy. This wallet held 313,461 EGLD, or 1.00% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 31,415,926
Circulating supply (as of July 5, 2024) 27,144,255 (86% of maximum supply)
Holder distribution Top 10 holders owned 70% of supply, as of July 5, 2024

From the Whitepaper

In its technical documentation, or whitepaper , MultiversX says: “MultiversX proposes a dynamically adaptive sharding mechanism that enables shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards at the beginning of each epoch is progressive and nondeterministic, inducing no temporary liveness penalties.”

MultiversX (EGLD) Explained

Romanian brothers Beniamin and Lucian Mincu founded what was then called Elrond in 2017. It is designed to solve the so-called blockchain trilemma, aiming to be fast, secure and decentralized. 

MultiversX  – which got its new name in late 2022 – promises speeds of 15,000 transactions per second. The EGLD coin, which hit the open market in 2020, supports the blockchain. 

How MultiversX Works

The MultiversX blockchain uses a Proof-of-Stake (PoS) consensus mechanism. This means that people are selected to add blocks to the blockchain based on how much EGLD they hold. 

Developers can create decentralized applications (DApps) and make use of smart contracts, computer programs which automatically execute once certain conditions are met. 

People can set aside, or stake, EGLD in return for rewards. The coin pays for transactions on the network and people can buy, sell, or trade it on exchanges.

Is MultiversX a Good Investment?

It is difficult to tell. Seeing as it was set up as a de facto alternative to Ethereum (ETH) back when Vitalik Buterin’s system was Proof-of-Work, it can be hard to find a use for it in a world where Ethereum is Proof-of-Stake. Its rebranding has been something of a damp squib, too, with the price firmly deciding not to rise. 

On the other hand, it does have a strong developer base and is looking to grow. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in EGLD.

Will MultiversX go up or down?

No one can really tell right now. While the MultiversX crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in MultiversX?

Before you decide whether or not to invest in MultiversX, you will have to do your own research, not only on EGLD, but on other, similar, coins and tokens such as Solana (SOL) or Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.


How many MultiversX are there?

As of July 5, there were 27.1 million EGLD in circulation, just some tokens below the total supply figure.

Will MultiversX reach $1,000?

It potentially could, but not for quite some time. Price prediction based on technical analysis don’t expect it to reach that level in this decade.

Keep in mind that EGLD has never been worth $1,000.

What is MultiversX used for?

The EGLD coin supports the MultiversX blockchain. It pays for transactions and can be staked in return for rewards. People can also buy, sell, and trade EGLD on exchanges. 


Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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