Scalable blockchain Elrond has made the leap onto its mainnet and drastically reduced the token supply in the process. As a result the price must also be recalculated and the price of the new coin will be increased by 1000x, making Elrond a $20 coin at present pricing.
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Key Points
- As part of the transition, Elrond said total token supply had been drastically reduced from 20 billion to just 20 million.
- Rather than burning tokens, Elrond is using an exchange swap where 1,000 ERD tokens translate into just one (1) token called Elrond Gold (eGLD).
- The redenomination and recalculation meands the price of the coin must be increased by 1000x upon swap. That means means new eGLD tokens will be worth approximately $24.00 each.
- Your total stack value/wallet value will be the same.
Hm.. So @ElrondNetwork is swapping their ERC20 #Ethereum token for their native eGLD Coin.
1,000 ERD #token : 1 eGLD #coin
1000x in price ($.02 current price) = $20 per egld 🤯
Also has a new Max supply of approximately 31 million eGLD🚀#smartmoves #Crypto #hindsightadvice https://t.co/L6bnvN1OPH
— Kevin L. Walker (@KevinLWalker) August 1, 2020
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