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EGLD, the native token underlying the MultiversX (formerly Elrond) blockchain, is now listed on Coinbase, the largest U.S. crypto exchange by trading volume.
EGLD trading is now available to over 108 million users in over 100 countries, including institutional entities, thanks to this new listing. This would suggest that the listing would give more users access to the MultiversX (EGLD) ecosystem.
Coinbase will add support for MultiversX (Previously Elrond) (EGLD) on the MultiversX network. Do not send this asset over other networks or your funds may be lost.
— Coinbase Assets (@CoinbaseAssets) December 6, 2022
According to a Coinbase publication, trading on the EGLD/USD pair has started today, and deposits and withdrawals of EGLD are already open within the Coinbase web and mobile product suite.
This news follows a string of strategic listings for EGLD, including key placements on U.S. markets, and likewise represents a big milestone.
In August, Revolut added the EGLD token to its list of supported cryptocurrencies, enabling EGLD trading on the well-known fintech app. Revolut's listing of EGLD hopes to bring a wider audience to the Elrond ecosystem, enabling millions to gain access.
Vladislav SopovMore than 20 countries (including the European Economic Area, the U.S., the U.K., Switzerland, etc.) are currently served by Revolut, with plans to expand into new markets ongoing.
Elrond, launched in 2017, rebranded to MultiversX last month after announcing a significant shift in focus to the expanding metaverse sector.
At the time of publication, MultiversX (EGLD) is trading at $44.75. The token is up 2.76% in the last 24 hours as compared to several cryptocurrencies that were recording losses at press time. With a market capitalization of over $1 billion, EGLD ranks as the 39th largest cryptocurrency, per CoinMarketCap data.
EGLD is demonstrating an increase of 100% in trading volume as traders jump into the recent volatility to capture profits.
Alex Dovbnya
Vladislav Sopov
Dan Burgin