CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$21,160.00
  • ethereum
    ETH$1,196.58
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Elrond (ERD) Skyrockets Another Daily 50% Following Integration of Swingby

    Elrond (ERD) Skyrockets Another Daily 50% Following Integration of Swingby

    Author: Anatol Antonovici

    Last Updated Jul 11, 2020 @ 08:29

    Elrond is by far the best performing token of the leading 100 cryptocurrencies by market cap over the past week, with more than 110% as of writing these lines. ERD has surged by over 50% in the last 24 hours alone. Here is what might explain the price surge.

    Elrond Mainnet Can Be Interconnected with Other Blockchain Via Swingby

    Decentralized Finance (DeFi) is a big hit this summer, as many DeFi-oriented blockchain projects experience rapid gains in their tokens. This group of digital assets is now driving what many believe to be the altcoin season.

    Elrond is a relatively new project that was established in August last year. At the end of this month, it will launch its mainnet, and many investors are already pricing in this major milestone. Meanwhile, the project is announcing relevant partnerships that bode well for its valuation.

    Earlier today, Elrond informed the community about the integration of Swingby, which provides an infrastructure for conducting token swaps between blockchains.

    The solution is decentralized, non-custodial, and is compatible with any digital wallet. Thus, Elrond’s inter-blockchain protocol built with its partners will allow ERD, along with other proprietary assets, to be swapped seamlessly with other cryptocurrencies, including Bitcoin or Ethereum.

    ADVERTISEMENT

    Shortly after the official statement about the integration came out, the ERD price surged to update the all-time high. Currently, it trades at $0.0122, up 51.8% over the past 24 hours. The increase helped ERC move up on the 56th position on Coinmarketcap, with over $160 million in market cap.

    Elrond
    Elrond (ERD) price. Source: Coinmarketcap

     

    Elrond CEO Beniamic Mincu commented on the partnership:

    “Getting access to all the available liquidity from day 1 is an important prerequisite for anyone building DeFi tools. This integration enables Elrond to be part of many existing cross-chain DeFi applications. We’re excited to work with Swingby and increase access to Elrond’s highly scalable and cost-effective solution.”

    The community expects that this integration will bring many opportunities to the mainnet, enabling some relevant DeFi use cases that will involve the ERD token.

    What Is Elrond?

    Elrond Network is a blockchain project created from starch. Its architecture merges a Secure Proof of Stake (PoS) algorithm with a so-called Adaptive State Sharding mechanism, enabling unlimited scalability. Elrond claims to be able to process over 10,000 transactions per second at low cost and with 5-second latency.

    The project is now partnering with other blockchain and DeFi businesses to foster a borderless internet economy. Earlier this week, Elrond partnered with FinNexus, ProDEFI, and Orion Protocol.

    Elrond Network gained its popularity as one of the first projects to fundraise via the Binance Launchpad.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • elrond
      Elrond Completes 1000:1 Token Swap, Binance Supports the Transition
    • ethereum_cover
      ETH Spiked 50% On Binance, Just To Crash 50% Immediately After
    • mystery_bitcoin_cover
      50 Bitcoins Worth Over $500,000 Mined in May 2010 Mysteriously Moved to Bitfinex
    Tags: DeFi Elrond
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Anatol Antonovici
    More posts by this author

    Anatol is an experienced financial writer that turned to cryptos right before the craze of late 2017. Previously, he was into foreign exchange and stock markets, providing brokerage firms, asset managers, and other businesses with top-notch content. He is open-minded, trades for fun, and addicted to classical music. Contact Anatol: LinkedIn

  • bitcoin
    BTC$21,160.00
  • ethereum
    ETH$1,196.58
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!