MultiversX Price Prediction 2024: EGLD Airdrop Incoming

Key Takeaways

• MultiversX will be having an airdrop soon. 
• EGLD’s price struggled in 2023.
• One MultiversX price prediction says the coin can reach $133.20 next year.

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

Airdrops involve distributing 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 immediately respond to a request for comment.

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 February 1, 2024.

MultiversX Coin Price Prediction

Let’s examine some of the MultiversX price predictions being made on February 1, 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. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term MultiversX price prediction that said EGLD would be worth $52.05 on February 6. The coin would then go on to reach $72.03 on March 2. The site’s price analysis was neutral, with 19 indicators sending positive signals and 10 making bullish ones. 

MultiversX Price Prediction for 2024

CaptainAltCoin  said MultiversX would fall to $86.35 by December while DigitalCoinPrice  had it hit $113.85 this year. PricePrediction.net , meanwhile, thought EGLD would be worth $90.06 in 2024.

MultiversX Price Prediction for 2025

Moving on, CaptainAltCoin’s MultiversX price forecast had the coin trading at $111.89 in 2025. DigitalCoinPrice said it would be worth $133.20 then. PricePrediction.net thought it would reach $131.03 next year.

MultiversX Price Prediction for 2030

Looking at a more long-term MultiversX price prediction, CaptainAltCoin thought EGLD would reach $240.56 in 2030. DigitalCoinPrice said it would be worth $391.29 that year. PricePrediction.net’s EGLD price prediction had it trade at $794.66 at the start of the next decade.

Google BardAI Price Prediction for MultiversX (as of February 1)

Google’s BardAI platform gave the following price prediction for MultiversX on February 1. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Please remember that the exact price prediction of an asset or cryptocurrency in the future is near impossible to to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short-Term (Next 3 Months):

• Price range: $70 – $75
• Reasons:
  • The continued adoption of blockchain technology.
  • The growth of the DeFi (decentralized finance) sector.
  • The development of new use cases for MultiversX.

Medium-Term (Next 6 Months):

• Price range: $52.74 – $81.77
• Reasons:
  • Overall market sentiment: The overall direction of the cryptocurrency market will have a significant impact on the price of MultiversX (EGLD). If the market is bullish, EGLD is likely to follow suit.
  • Developments from the Elrond team: The Elrond team is constantly working on new projects and improvements to the Elrond ecosystem. These developments could be positive catalysts for the price of EGLD.
  • Adoption by businesses and institutions: If more businesses and institutions start using MultiversX (EGLD), this could also drive up the price of the token.

Long-Term (Next 5 Years):

• Price range: $250 – $500
• Reasons:
  • Adoption by developers and businesses: The more applications and projects that are built on the MultiversX blockchain, the more demand there will be for EGLD.
  • Market sentiment: The overall mood of the cryptocurrency market can have a significant impact on the price of individual coins.
  • Regulatory changes: Changes in government regulations could make it more or less difficult to use cryptocurrencies, which could also affect EGLD’s price.

Recent Updates From MultiversX

MultiversX has just launched a new website version, “ringing clarity and focus”, as it  said on X. A hub for the entire ecosystem. The onboarding machine for new users, builders, and partners.

EGLD Price History

Now, let’s examine some of MultiversX price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a MultiversX price prediction.

When EGLD came out in September 2020, it was worth about $13.40. The price rose and really went up in early 2021, when the cryptocurrency market hit a bullish phase. The coin broke past $200 in April. Although EGLD fell over the summer, it climbed back up in the autumn and, on November 23, 2023, EGLD reached an all-time high of $542.58. Worldwide concerns about the Omicron variant of Covid-19 saw it fall back and the coin closed the year at $238.63.

2022 was a poor year for crypto and EGLD struggled. When the market crashed following the collapse of the Terra (LUNA) blockchain, the coin fell below $100. Any hopes that the rebranding would help were snuffed out when the FTX (FTT) exchange declared bankruptcy in November. MultiversX closed the year at $32.80, making an annual loss of more than 85%.

MultiversX in 2023 and 2024

2023 was pretty mediocre for EGLD until the last few months of the year. Although the coin broke past $50 in February, it soon went down again. In early June, the United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase crypto exchanges and the market fell. EGLD was not immune and it reached a low of $28.47 on June 15. 

The market recovered, and MultiversX reached $38.02 on July 17. This appeared to be in response to a court ruling that Ripple’s XRP was not a security if it was being sold on exchanges. There was another drop in August, partially triggered by Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC). By September 11, it was worth $22.30. There was some recovery after this, potentially triggered by the hackathon and, on September 22 2023, MultiversX was worth about $25.55.

EGLD ended 2023 with a price of $67.93 before decreasing all throughout January, starting February at $52.11.

As of February 1, there were 26.5 million EGLD in circulation, just some tokens below the total supply figure. This gave the coin a market cap of about $1.38 billion, making it the 51st largest crypto by that metric.

MultiversX Price Analysis

EGLD was in a bear market from November 2021. It reached a low of $21 in October, after which we saw the beginning of a new uptrend. 

The price came up to the resistance level of the horizontal zone that started in June 2022, which could be interpreted as the start of a consolidation phase. A breakout that would signal the starting bull market has yet to happen, though. 

If this was the beginning of the new bull market, we saw the first sub-wave of a larger five-wave pattern from its October low to its December. That means the subsequent downtrend from to January’s low of $46 was the first bull market correction. 

On January 24, the price bounced, recovering by 25% and increasing to $58. This last rise could have indicated the next starting uptrend. 

If the price stays above $46 and continues rising, that would most likely mean it’s headed further upwards, with our first target being in the $135 area.

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 itself. 

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.

Who are the Founders of MultiversX?

Lucian Todea, Beniamin Mincu, and Lucian Mincu created MultiversX in 2017. The trio founded a company called MultiversX Network.

Who Owns the Most MultiversX (EGLD) Tokens?

On February 1, 2024, one wallet held more than 55% of EGLD’ supply.

Richest EGLD Wallet Addresses

As of February 1, 2024, the five wallets with the most Optimism tokens were

• erd1qqqqqqqqqqqqqqqpqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqplllst77y4l. This wallet held 17,541,035 EGLD, or 55.83% of the supply.
• erd1rf4hv70arudgzus0ymnnsnc4pml0jkywg2xjvzslg0mz4nn2tg7q7k0t6p. This wallet held 2,115,368 EGLD, or 6.73% of the supply.
• erd1fcxu3f0hlxyvnp7zvuqmf34zf5w782tst6vuqhm4dwq4ayjspdaqce0q49. This wallet held 521,428 EGLD, or 1.66% of the supply.
• erd1qqqqqqqqqqqqqpgqhe8t5jewej70zupmh44jurgn29psua5l2jps3ntjj3. This wallet held 361,181 EGLD, or 1.15% of the supply.
• erd1sdslvlxvfnnflzj42l8czrcngq3xjjzkjp3rgul4ttk6hntr4qdsv6sets. This wallet held 342,174 EGLD, or 1.09% of the supply.

Fact Box

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 acquired 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.

MultiversX Attention Tracker

Here is a chart for MultiversX Google search volume for the past 90 days. This represents how many times the term “MultiverseX EGLD” has been Googled over the previous 90 days.

FAQs 

Disclaimer 

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.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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