Elrond, BAT and Loopring rallying in the crypto world

Let’s take a look together at how MultiversX (formerly Elrond), BAT and Loopring crypto assets are doing.

Analysis of Elrond, BAT and Loopring crypto assets

The year 2023 seems to be a very good year for the crypto world and, sooner or later, some are checking it out for themselves.

MultiverseX (formerly Elrond): crypto’s performance compared to BAT and Loopring

In late 2022, Elrond changed its name to MultiversX, with the vision of bringing out new apps in the Web3 and metaverse.

Just as Zuckerberg’s company changed the name of the parent company, Elrond has also done so and bases its business on three cornerstones, xFabric, xPortal, and xWords.

XFabric is a module that can be customized by programmers and offers a wide range of possibilities to the user.

XPortal is an access app for the metaverse and gives the ability to act as a Wallet as well as having a community chat, while XWords connects the various metaverses to each other.

As we wait to see Elrond’s latest upgrade, namely the staking of EGLD within the Ledger Live app, MultiverseX already gives 1.5 million users access to the service.

The words of the CEO and founder of MultiversX were as follows:

“1.5M @Ledger. Live users can now stake $EGLD directly in the app, via the @Figment_io node ledger. Safe. Comfortable. Fast. ESDTs are also making their way into the app. $USDC, $RIDE, $MEX are the first tokens now available. More are on the way.”

Ledger handles block proposal and validation by staking, has seven nodes and can hold unlimited EGLD.

The integration introduced above will also be extended to ESDT MEX, USDC and RIDE and much more will be introduced soon.

The current price is $42.70. EGLD gains 6.22% since yesterday and boasts a daily trading volume of $34.5 M.

Basic Attention Token (BAT)

Basic Attention Token (BAT) grows 6% in the 24 hours and stands at €0.23 per BAT with a circulating volume of 1,499,960,320.42 units.

Unlike other crypto assets BAT has always shown smaller fluctuations proving resilient to volatility for long periods.

This stability has suffered only two setbacks in its history, the first of which was with the first speculative bubble that then led to three years of lateralization.

The first bubble on BAT’s price lasted very little, and did not even cause its price to skyrocket to absurd levels, as happened to other cryptocurrencies at the time.

In contrast to the other tokens, BAT is very stable with fluctuations throughout the bubbles it experienced that remained within the rising minimum-maximum range above the minimum.

BAT is also stable because it serves as both an exchange currency and a reward for users at a price for advertisers.

Frequent exchanges and heavy use of the token on the practical side ensure stability.

Loopring (LRC)

Loopring is one of the best zk-rollup layer-2 solutions on the Ethereum blockchain and its native token LRC is used in all exchanges.

Among other things, the platform is known for its throughput and recently announced the launch of the “contribute + earn” program for the layer-2 ecosystem.

LRC’s price has risen 14% in the last week and even 8.5% since yesterday bringing it to €0.33.

Far from its all-time high, Loopring is well on its way to catching up.