MultiversX, formerly known as Elrond (EGLD), continues to stand out in the evolving blockchain landscape as a high-performance network built for speed, security, and scalability. As of today, EGLD has seen a slight dip of 1.09% over the past 24 hours, reflecting short-term market corrections amidst broader crypto volatility. Despite this minor setback, investor interest remains strong due to the project’s robust architecture and forward-looking rebranding into the multiverse ecosystem.
This article explores the current state of EGLD, its historical price movements, technological foundations, key milestones, and long-term potential — offering a comprehensive overview for both new and experienced crypto participants.
What is MultiversX (Formerly Elrond)?
At its core, MultiversX is designed to solve some of the most pressing challenges in blockchain technology: decentralization without sacrificing performance. While many cryptocurrencies struggle to balance scalability, security, and decentralization — often referred to as the blockchain trilemma — MultiversX aims to deliver all three through innovative engineering.
Originally launched as Elrond in 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea, the platform was rebranded to MultiversX in 2022 to reflect its expanded vision beyond just a fast blockchain. Today, it positions itself as a foundational layer for the open metaverse, enabling decentralized applications (dApps), digital assets, and cross-chain interoperability at unprecedented speeds.
EGLD Price History: From Launch to All-Time Highs
Understanding EGLD’s price trajectory provides valuable insight into its market resilience and adoption cycles.
2019–2020: Foundation and Initial Growth
Elrond introduced its native token under the ticker ERD in 2019 before transitioning to EGLD with a 1000:1 token swap upon mainnet launch in July 2020. During a private funding round in June 2019, the project raised **$1.9 million**, attracting backing from major players like Binance Labs, NGC Partners, and Electric Capital. A total of 3.8 billion ERD tokens were sold — later converted into 3.8 million EGLD at an effective price of $0.50 per token.
The Initial Exchange Offering (IEO) on Binance Launchpad in July 2019 allocated 5 million EGLD at $0.65 each. Following the mainnet release, EGLD debuted on exchanges trading between **$10 and $12**, setting the stage for explosive growth in the coming bull run.
2021: The Bull Run and Record Highs
For most of early 2021, EGLD traded below $12. However, fueled by rising institutional interest and DeFi expansion, the token surged dramatically:
- By February 2021, EGLD reached $200
- In April, it climbed to $240
- Finally, in November, it shattered records by hitting an all-time high of $545
This represented a staggering 650% increase within just two months, making EGLD one of the top-performing altcoins of the year.
2022: Market Correction and Rebranding
Like much of the crypto market, MultiversX faced headwinds in 2022. After peaking at $545, EGLD declined steadily as macroeconomic pressures mounted and investor sentiment turned bearish. By year-end, the price had settled around **$44**, a significant drop but still maintaining its position among the top 40 cryptocurrencies by market capitalization.
Despite the downturn, 2022 marked a pivotal year for strategic evolution. The team introduced on-chain governance in Q3 and officially rebranded from Elrond to MultiversX, signaling a shift toward building infrastructure for virtual worlds, NFTs, and immersive digital experiences.
How Does MultiversX Work? Technology Behind EGLD
MultiversX leverages several cutting-edge technologies to achieve industry-leading performance metrics.
Adaptive State Sharding
One of the key innovations is adaptive state sharding, which splits the network into smaller partitions (shards) that process transactions in parallel. This allows the platform to scale linearly — meaning more nodes lead to higher throughput rather than congestion.
The system divides processing across three types of sharding:
- Network sharding – improves connection efficiency
- Transaction sharding – enables parallel processing
- State sharding – distributes data storage
Together, these enable MultiversX to handle up to 15,000 transactions per second (TPS) with finality in under 6 seconds — far surpassing older blockchains like Ethereum or Bitcoin.
Secure Proof-of-Stake (PoS)
Instead of energy-intensive mining, MultiversX uses a secure variant of proof-of-stake consensus called Secure PoS. Validators are selected based on stake size, rating, and randomness to ensure fairness and resistance to attacks.
Holders of EGLD can participate in staking either as validators or delegators, earning rewards while helping secure the network. This mechanism eliminates traditional mining and promotes energy efficiency.
WebAssembly (WASM) Virtual Machine
The platform runs on a custom-built WebAssembly-based virtual machine (VM) optimized for smart contract execution. WASM offers faster load times and better cross-platform compatibility compared to traditional VMs like Ethereum’s EVM.
This makes MultiversX particularly attractive for developers building dApps requiring high-speed interactions — such as gaming platforms, decentralized exchanges (DEXs), and real-time financial services.
👉 Explore how developers are leveraging scalable blockchains to build the next generation of dApps.
Key Milestones in MultiversX’s Evolution
- Late 2017: Project conception by Beniamin and Lucian Mincu with Lucian Todea
- July 2018: Prototype launch achieving 1,000 TPS using AWS infrastructure
- June 2019: Private and public testnet releases; successful IEO raising millions
- July 2020: Mainnet launch and transition from ERD to EGLD
- 2021: Price surge to $545; recognition as a top-tier Layer 1 blockchain
- Q3 2022: Introduction of on-chain governance and rebranding to MultiversX
These milestones reflect a consistent focus on technical advancement and ecosystem expansion.
Can You Mine EGLD?
No — EGLD cannot be mined. Unlike proof-of-work blockchains such as Bitcoin or Litecoin, MultiversX operates on a proof-of-stake model, meaning new tokens are not created through computational work but through staking and validation activities.
Users can earn EGLD by:
- Delegating their tokens to validator nodes
- Running their own validator node (requires technical setup)
- Participating in network governance
Staking rewards provide a passive income stream while contributing to network security and decentralization.
Frequently Asked Questions (FAQ)
What is the maximum supply of EGLD?
The total supply of EGLD is capped at 31,415,926 tokens — a number derived from the first eight digits of π (pi). This deliberate choice reflects the project’s mathematical precision and long-term scarcity model.
Is MultiversX the same as Elrond?
Yes. MultiversX is the new name for Elrond, adopted in 2022. While the brand has evolved to focus on metaverse development, the underlying technology and native token (EGLD) remain unchanged.
Where can I buy EGLD?
EGLD is listed on major cryptocurrency exchanges including OKX, Binance, Kraken, and Coinbase. You can purchase it using fiat currency or trade other cryptocurrencies like BTC or ETH for EGLD.
👉 Learn how to securely acquire and store EGLD on leading exchange platforms.
Does EGLD support smart contracts?
Yes. MultiversX supports Turing-complete smart contracts through its WASM-powered virtual machine. Developers can build dApps for finance, gaming, identity management, and more.
How fast are MultiversX transactions?
Transactions on MultiversX achieve finality in approximately 5–6 seconds with throughput capacity reaching up to 15,000 TPS, making it one of the fastest blockchains available today.
Why did Elrond rebrand to MultiversX?
The rebranding reflects a strategic pivot toward becoming a foundational platform for the open metaverse — supporting virtual worlds, digital collectibles, cross-reality experiences, and interconnected dApps across multiple dimensions of online interaction.
Final Thoughts
MultiversX (EGLD) has evolved from a high-speed blockchain solution into a visionary platform aiming to power the decentralized internet of tomorrow. With proven scalability, strong developer tools, and a clear roadmap into the multiverse economy, it remains a compelling option for investors and builders alike.
While short-term price fluctuations are inevitable in any crypto asset, EGLD’s fundamentals — limited supply, active staking economy, and growing ecosystem — suggest enduring relevance in the years ahead.
As blockchain technology continues to mature, projects like MultiversX exemplify how innovation can address real-world limitations while paving the way for immersive digital futures.