thenewscrypto.com
- MultiversX (EGLD) emerged as the top gainer on the day.
- The EGLD price soared more than 22%.
To earn higher returns during the next bull run, investors in the cryptocurrency market are gradually moving toward mid-cap investment options. Thus, “MultiversX (EGLD) is this week’s top-performing cryptocurrency,” ranking 44th overall in the crypto space, according to data from CoinMarketCap.
The native currency of MultiversX, EGLD, is currently showing an inverted head and shoulders pattern on a daily time zone. Bulls have been accumulating EGLD coins since this week, responding to the signal of a bullish pattern. As a result, “EGLD emerged as the top gainer on the day,” as per CoinMarketCap.
MultiversX’s price surged more than 22% overnight, reaching a high of $49.47. At the time of writing, EGLD traded at $45.55 with a market cap of $1.15 billion. In addition, MultiversX’s 24-hour trading volume climbed over 780% to reach $216 million.
This spike in EGLD’s trading volume drove a positive effect on the altcoin’s price. Also, the cryptocurrency performed similarly to the two industry heavyweights, Bitcoin (BTC) and Ethereum (ETH). When compared with BTC and ETH, EGLD was up 12% against BTC and 14% against ETH.