Elrond is a decentralized blockchain technology with a divide-and-conquer design and a Secure Proof of Stake (SPoS) consensus mechanism.
The platform is powered by the EGLD coin, its native cryptocurrency. Recently, experts observed that EGLD is not in the market for more profitable gains. Other popular cryptocurrencies like Bitcoin (BTC) are facing issues with profitability, discouraging investors.
Due to these issues, investors and traders are diverting their attention to more promising projects like The Hideaways (HDWY), which is expected to increase between 7,000% to 9,000% by the end of 2022.
Elrond Might Not Turn The Tables And Become Profitable, Analysts Says
In the past week, EGLD was trading around $50.25 with support of approximately $47. The cryptocurrency RSI is over 50, suggesting the possibility of a bullish trendline. However, crypto experts believe the situation does not call for sustainable long-term investment.
Currently, EGLD is trading for $191.29 with an increased market cap of $4,150,898,333.50 and a circulating supply of 21,694,175 EGLD.
Technical analysts explain that Elrond is more inclined to have short-term rallies rather than long-term profitability and suggest investing in other projects with potential gains, like The Hideaways (HDWY).
Long-Term Holders Questions The Profitability Of Bitcoin
The Bitcoin (BTC) market has a tight relationship with the stock market, particularly tech stocks, which are currently experiencing a greater downfall than the crypto market.
Long-time BTC holders are questioning the profitability of the cryptocurrency because of its ties to the tech stock market.
The central bank’s failure to control the rising inflation has added to the problem of Bitcoin investors. With less money to invest, BTC holders shift their interest to less risky assets such as The Hideaways.
The Hideaways Offers Profitability And Stability To Crypto Investors
Unlike EGLD and BTC, HDWY offers more profitability to traders and investors. With the Hideaways, you can own fractionalized NFTs backed by real-world assets.
If you want to own luxury real estate worldwide without the hassle of house deposits and legal, financial, and government fees, then HDWY is the perfect partner!
The Hideaways safeguards their client’s privacy by partnering with SolidProof to audit their smart contracts.
With a current price of $0.045, HDWY has come a long way from its $0.01 presale price. Analysts predict that HDWY will continue to see massive gains and profitability in the coming months and 2023.
Partner with The Hideaways now and own your dream real estate asset.
To Learn More About The Hideaways, Visit:
Website: https://www.thehideaways.io/
Presale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
