Ergo got listed on exchange, is now the right time to invest?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Aug 4, 2021
  • The exchange announced the listing of ERG.
  • Ergo was created to build advanced cryptographic features and new DeFi Functionality.
  • After this addition, its trading volume increased by 18%.

Ergo ERG/USD was created with the intention of building advanced cryptographic features and implementing new DeFi functionality on the foundation which was laid out by blockchain technology.

Through its Sigma protocols and architecture, it is a possibility to launch use-cases that would be impossible on other platforms, as it offers powerful privacy applications and financial contracts. 

The listing as a catalyst for growth

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On August 3, the exchange announced its listing of the ERG token. Ergo’s ecosystem is powered by multi-stage contracts using Ergo’s native language, ErgoScript, which allows developers to build dApps with ease.

This led to an increase in the overall trading volume, as well as an increase in the price of the ERG token, so is it now the right time to invest in it?

Should you invest in Ergo (ERG)?

On August 4, Ergo (ERG) was priced at $5.68.

It achieved its all-time high value of $29.58 on April 27, 2018. This marks a 420% difference in value.

This gives us a perspective as to exactly how high the price has historically gone.

On May 18, it saw its recent high of $18.12, however, to get a more recent perspective on its price fluctuations, we will be looking at July’s value.

It was at its highest point on July 3 with a value of $7.52 and dropped to as low as $4.12 on July 20. This means that it changed in value by 45% throughout the span of July.

Its highest value on July 3 was just 32% higher than its value on August 4.

This gives us some insight into how the price has fluctuated over time, and what we can expect from it going forward.

That being said, ERG saw an increase in trading volume by 18% in the last 24 hours and an increase to its market cap by 6%. Its price has gone up by 6% in the last 24 hours as well, signaling that the listing has been impacting it in a significant way.

Given the fact that ErgoScript allows developers to create scalable and secured dApps, alongside its partnership with EMURGO, a commercial arm of Cardano in the goal of improving the blockchain research and zero-knowledge system, we can expect to see the ecosystem grow over time, which will drive demand for its native token ERG and as such, increase its value.

With its recent listing and increase in headline media attention, we can expect its price to go up by another 30% by the end of August, which would put it at $7.38.

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