At 15:05 UTC, EGLD was ranked 41st on Coingecko by market capitalization. This is a correction from USD 211 that was reached earlier today. It was up nearly 9% over a single day making it the top performing cryptoasset today. Its weekly gains were also a whopping 45%, nearly erasing its monthly losses.
Although there was no obvious reason for today’s rally, it happened following a listing on South Korean exchange Bithumb yesterday.
An announcement by the South Korean crypto exchange Bithumb states that trading in the EGLD token has been enabled on their platform this Thursday against both Bitcoin (BTC) as well as the South Korean won(KRW) fiat currencies.
According to CoinGecko data, Binance is still the largest market for EGLD trading, followed by OKX, HitBTC and HitBTC.
Elrond also announced Monday that its crypto liquidity solution ZojidPay had integrated EGLD into its platform. It also enabled EGLD payments through its Visa debit cards. The announcement also stated that ZoidPay would launch its ZPAY token on Elrond.
The strong weekly gains are due to news that Elrond Network had purchased the Web 3 crypto payment system Utrust for an undisclosed sum.
The acquisition announcement stated that Elrond plans to use Utrust’s technology for payments to make them “faster and cheaper” and to generate income streams from payment processing services.
