Elrond Price Hit a New High After the Maiar DEX Went Live

The native coin of the Elrond protocol, EGLD, reached a new record high of $542.58 amid the growth of the ecosystem.

On Nov. 19, Elrond released its DEX, Maiar, with the native token MEX.

As a part of the launch, the protocol held a $1.29 B liquidity boosting program, intending to push DeFi adoption. During the event, $1.29 B worth of MEX were allocated to the Mariar users who added EGLD, MEX, and USDC to liquidity. After the initial month, the reward structure will expand. Users will be rewarded with MEX for their activities on platforms like UniSwap, and SushiSwap.

On the first day of the launch, the Mariar platform secured over $1 B total value.

Launched in July 2020, the network has processed over 13.4 M transactions, and the total number of staked EGLD tokens is larger than 11.9 M currently. The number of accounts is close to hitting 1 million. For now, it is 998.712.

ELRD is the 22nd largest crypto with a market cap of around $10.5 B.