EGold is trading at 40.79 as of the 19th of April 2024, a -1.19 percent down since the beginning of the trading day. EGold has about a 37 percent probability of financial distress in the next few years of operation and has generated negative returns over the last 90 days. Cryptocurrency ratings for eGold are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 20th of March 2024 and ending today, the 19th of April 2024. Click here to learn more.
eGold is peer-to-peer digital currency powered by the Blockchain technology. More on eGold
eGold is an online market maker for p-2-p internet money denominated as Cryptocurrency. eGold has been active in the last 3 months, and it is currently trading with a bearish sentiment. Cryptocurrencies such as eGold are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as eGold are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.
EGold Crypto Coin Highlights
Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. EGold's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding EGold or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
eGold is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 11 exchanges in multiple currencies. MultiversX is a blockchain platform designed to provide scalability and secure decentralized applications. It is powered by adaptive state sharding, secure proof of stake, and a dedicated virtual machine that enables developers to build applications in a variety of languages. The platform has a network structure which includes a metachain, shards, and nodes and three distinct roles: Validator, Observer, and Fisherman. eGold (EGLD) is the native token of the MultiversX blockchain, used to pay for services on the network and as collateral for validators. MultiversX was founded in 2017 by Lucian Todea, Beniamin and Lucian Mincu and is supported by the Elrond Network. It conducted a successful private investment round and an Initial Exchange Offering (IEO) in 2019 and launched its mainnet in 2020, where it changed its cryptocurrency from ERD to EGLD.
EGold (EGLD) is traded on CRYPTO Exchanges. eGold is peer-to-peer digital currency powered by the Blockchain technology. The coin currently falls under 'Small-Cap' category with a current market capitalization of 156.32 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate EGold's market, we take the total number of its shares issued and multiply it by EGold's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities.
What are EGold's target price odds to finish over the current price? Based on a normal probability distribution, the odds of EGold jumping above the current price in 90 days from now is about 98.0%. The eGold probability density function shows the probability of EGold crypto coin to fall within a particular range of prices over 90 days. Assuming the 90 days trading horizon the crypto coin has a beta coefficient of 1.5921 suggesting as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, EGold will likely underperform. Additionally, eGold has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the NYSE Composite.
Based on a normal probability distribution, the odds of EGold to move above the current price in 90 days from now is about 98.0 (This eGold probability density function shows the probability of EGold Crypto Coin to fall within a particular range of prices over 90 days) .
Investors will always prefer to have the highest possible return on investment while minimizing volatility. EGold market risk premium is the additional return an investor will receive from holding EGold long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in EGold. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although EGold's alpha and beta are two of the key measurements used to evaluate EGold's performance over the market, the standard measures of volatility play an important role as well.
When it comes to investing in cryptocurrency, such as eGold, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of EGold, which is currently traded at 40.79, shows everything you need to know about eGold market value. You don't have to consider the fundamental factors that affect a crypto asset, such as EGold, to determine its price movements. However, the EGold's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so EGold's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project EGold's future price trend
The output start index for this execution was zero with a total number of output elements of sixty-one. eGold Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe EGold price patterns.
EGold Against Markets
Picking the right benchmark for EGold crypto coin is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in EGold crypto coin price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for EGold is critical whether you are bullish or bearish towards eGold at a given time. Please also check how EGold's historical prices are related to one of the top price index indicators.
Our tools can tell you how much better you can do entering a position in EGold without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.
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You need to understand the risk of getting into digital currencies such as EGLD before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in EGold in four ways:
Buy EGLD through an exchange
Get yourself a crypto wallet before embarking on your eGold journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain.
Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase eGold. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.
Purchase fractions of EGold through an exchange
You don't have to buy a full token when starting out since EGLD is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.
Trade eGold through a broker
If you don't want to store your EGold Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.
Invest in EGLD through an exchange-traded fund (ETF)
You can also invest in EGLD through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor.
Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.
Investing Ideas
In addition to having EGold in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.
Thematic Opportunities
Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
When determining whether eGold offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of EGold's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Egold Crypto.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in eGold. Also, note that the market value of any cryptocurrency could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.
You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Please note, there is a significant difference between EGold's coin value and its market price as these two are different measures arrived at by different means. Cryptocurrency investors typically determine EGold value by looking at such factors as its true mass adoption, usability, application, safety as well as its ability to resist fraud and manipulation. On the other hand, EGold's price is the amount at which it trades on the cryptocurrency exchange or other digital marketplace that truly represents its supply and demand.
