Cryptocurrency analyst Ben Armstrong of the BitBoy Crypto channel stated in a recent video that there is a token on the market that brings together the best aspects of Bitcoin and Ethereum.
According to Armstrong, Elrond (EGLD) can be considered a “son” of this union. Therefore, it has everything to be one of the best crypto assets to invest in 2021.
Elrond has already appreciated 650% in 2021
As the analyst pointed out, smart contract platforms are where the big gains are, and the EGLD token is proof of that.
In 2021 alone, the digital asset has already appreciated by more than 650%. On January 1, Elrond was traded at $ 26.07 and is currently quoted at $ 197. When quoted in reais, the price is equivalent to approximately R $ 1,025.
“Elrond seeks to be the next best smart contract platform and has already been very successful,” said the analyst.
Armstrong noted that during the hike this year, the price of Elrond rose $ 50 in just 24 hours. The movement was registered between the 7th and 8th of February.
Now, the analyst believes that the token will lead to a similar rise, initiating a parabolic movement.
Why is the token valuable?
According to Armstrong, Elrond is special and valuable because he borrows positive aspects from Bitcoin and Ethereum.
More precisely, the project combines the scarcity of Bitcoin and Ethereum’s smart contract programmability. The platform can handle 15,000 transactions per second.
Its token, the EGLD, is used for governance, transaction fees, rewards and smart contract interactions.
In addition, the analyst pointed out that a key factor for the success of the project is its community:
“Elrond has the second strongest community in the entire cryptocurrency sphere, alongside Cardano.”
Finally, regarding price predictions for the cryptocurrency, Armstrong said that EGLD has the potential to reach $ 2,000.
Thus, the crypto can still value more than 10 times in relation to its current price, of almost US $ 200. If the forecast is confirmed, Elrond may be worth almost R $ 10,500, according to the current quote in reais.
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