Elrond (ERD) price goes up by over 20%

Elrond (ERD) price goes up by over 20%
Written by:
Ali Raza
11th July, 12:43
  • Elrond (ERD) recovery in months after the March price drop advanced slowly for a time.
  • After the arrival of May, the recovery sped up significantly, even turning into a surge.
  • The last few days have even brought a major rally, following the ERD announcement.
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A cryptocurrency project Elrond (ERD) is on its way to reaching the new ATH. The coin’s price is already higher than ever before, but since ERD doesn’t seem to have hit its highest point as of yet, its new ATH has yet to be determined.

Elrond in 2020

Elrond (ERD) was launched about a year ago, in July 2019. Back then, its price sat at around $0.0062, although it wasn’t long before it started dropping.

It kept dropping throughout 2019, until it reached $0.001359, which is where it remained for most of the following six or seven months. It only reached its true bottom in 2020.

The coin started the year with a price of $0.001820, and it mostly remained there until early February. In February, Elrond grew to $0.0020 as part of a market-wide rally. However, it was not long before the rally ended on February 14th, and the coins started seeing a correction.

By March 12th, the coronavirus fears caused panic among investors who oversold their assets, causing the prices to crash, which also influenced the crypto industry. As a result, ERD ended up at a new bottom of $0.00082.

Over the following months, the coin started seeing a recovery, albeit a slow and steady one. However, it started speeding up once May 2020 had started, and by late June, Elrond even saw its first real surge.

Its price was rejected after hitting a resistance at $0.006, but soon enough, the coin’s growth continued, and it faced the same resistance yet again, this time surpassing it.

ERD’s real surge started after a recent announcement on its blog, which revealed that Elrond mainnet got access to cross-chain liquidity via swingby Inter-blockchain asset swaps. The announcement caused ERD to skyrocket and surpass $0.012, currently sitting at $0.012595, after growing by 20%.

Conclusion

Elrond’s price surged by 20% in the last 24 hours after an important announcement. The coin is currently higher than ever before, although it has yet to reach its ATH.

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