Serban’s Crypto Picks – Trading Call – BUY Elrond $eGLD – Long term potential as well

Elrond $eGLD: This is one of the projects that has impressed over the last year; the team is amazing, working tirelessly day and night, their plans are bold to say the least and they’ve been constantly delivering. Fundamentals are there and even though they’ve had a massive rally starting last year, we can still make some profits on it on their way to new ATH.
My buy zone is between $134-$146; I’d set a tight stop loss around the $129-$130 level in case the current play doesn’t work out as we expect it to due to market conditions.

This is a long term hold for me, so I’m accumulating eGLD whenever possible, but if you’re in just for some profits, you can set a TP level around the $193-$195 level.

Description from Coinmarketcap: Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.

The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking and rewarding validators.

Elrond was first announced in August 2019, and its mainnet went live in July 2020.