{"id":301914,"date":"2023-04-02T10:00:29","date_gmt":"2023-04-02T04:30:29","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=301914"},"modified":"2023-04-01T14:52:22","modified_gmt":"2023-04-01T09:22:22","slug":"multiversx-unveils-plans-to-attract-more-users-how-did-egld-react","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\/","title":{"rendered":"MultiversX unveils plans to attract more users, how did EGLD react"},"content":{"rendered":"<ul>\n<li><em>MultiversX launched four products in Q1 2023.<\/em><\/li>\n<li><em>Activity on the chain, however, continuedf to dwindle.\u00a0<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Formerly referred to as Elrond, metaverse-focused project MultiversX [EGLD] confirmed the successful rollout of some new products in Q1 2023 aimed at driving more users to the protocol.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/elrond-erd-2-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">MultiversX [EGLD] Price Prediction<\/a> 2023-2024<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">In a series of tweets published on 31 March, MultiversX confirmed the launch of xPortal, MultiversX Bridge, MultiversX Wallet, MultiversX Explorer, and MultiversX Explorer in the first three months of the year.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bi-weekly product releases seem hard to accomplish?<\/p>\n<p>The <a href=\"https:\/\/twitter.com\/hashtag\/MultiversX?src=hash&amp;ref_src=twsrc%5Etfw\">#MultiversX<\/a> team made it possible in Q1.<\/p>\n<p>After all, it\u2019s just hard work. <a href=\"https:\/\/t.co\/nA6f4Q5iUf\">pic.twitter.com\/nA6f4Q5iUf<\/a><\/p>\n<p>&mdash; Multivers\u157d (@MultiversX) <a href=\"https:\/\/twitter.com\/MultiversX\/status\/1641794992623476738?ref_src=twsrc%5Etfw\">March 31, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In November 2022, the team behind MultiversX <\/span><span style=\"font-weight: 400;\">announced<\/span><span style=\"font-weight: 400;\"> its decision to change its name from Elrond and move forward under MultiversX, rebranding itself as a decentralized blockchain network with a focus on the metaverse.<\/span><\/p>\n<h3><b>Much ado about nothing?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In spite of the new products being launched this year and old products re-launched under new names since the name change in November, MultiversX&#8217;s DeFi TVL remained at its June 2022 level, data from <\/span><a href=\"https:\/\/defillama.com\/chain\/MultiversX\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DefiLlama<\/span><\/a><span style=\"font-weight: 400;\"> revealed. At press time, the protocol\u2019s TVL was $78.71 million, having fallen by 6% since the year began.<\/span><\/p>\n<figure id=\"attachment_301915\" aria-describedby=\"caption-attachment-301915\" style=\"width: 2328px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34.png\"><img decoding=\"async\" class=\"size-full wp-image-301915\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34.png\" alt=\"\" width=\"2328\" height=\"764\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34.png 2328w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-300x98.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1024x336.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-768x252.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1536x504.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-2048x672.png 2048w\" sizes=\"(max-width: 2328px) 100vw, 2328px\" \/><\/a><figcaption id=\"caption-attachment-301915\" class=\"wp-caption-text\">Source: DefiLlama<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Further, in the past few weeks, user activity on the protocol has seen a steep decline. According to data from <\/span><a href=\"https:\/\/app.artemis.xyz\/dashboard\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Artemis<\/span><\/a><span style=\"font-weight: 400;\">, MultiversX\u2019s daily active addresses count has fallen by 76% in the last month.\u00a0<\/span><\/p>\n<figure id=\"attachment_301925\" aria-describedby=\"caption-attachment-301925\" style=\"width: 2328px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1.png\"><img decoding=\"async\" class=\"size-full wp-image-301925\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1.png\" alt=\"\" width=\"2328\" height=\"764\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1.png 2328w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1-300x98.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1-1024x336.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1-768x252.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1-1536x504.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.30.34-1-2048x672.png 2048w\" sizes=\"(max-width: 2328px) 100vw, 2328px\" \/><\/a><figcaption id=\"caption-attachment-301925\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Moreso, the total number of transactions completed on-chain within the same period decreased by 80%.<\/span><\/p>\n<figure id=\"attachment_301924\" aria-describedby=\"caption-attachment-301924\" style=\"width: 1074px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23.png\"><img decoding=\"async\" class=\"size-full wp-image-301924\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23.png\" alt=\"\" width=\"1074\" height=\"808\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23.png 1074w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23-300x226.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23-1024x770.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-01-at-07.46.23-768x578.png 768w\" sizes=\"(max-width: 1074px) 100vw, 1074px\" \/><\/a><figcaption id=\"caption-attachment-301924\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<h3><strong>How has EGLD fared?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">While EGLD\u2019s price has increased by 30% on a year-to-date basis, its price has embarked on a descent since 21 February. After peaking at a high of $53 on that day, the altcoin\u2019s value has since dipped. As of this writing, it traded at $42.58 per data from <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/multiversx-egld\/\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the coin\u2019s price oscillating within a tight range in the last two weeks, EGLD\u2019s buying momentum has since fallen. For example, momentum indicators Relative Strength Index (RSI) and Money Flow Index (MFI) were positioned below their respective center lines at the time of writing. While EGLD\u2019s RSI rested at 48.27, its MFI was 43.64.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/elrond-erd-2-profit-calculator\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">EGLD\u00a0Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Likewise, EGLD\u2019s On-balance volume, in a downtrend at press time, decreased by 4% during that period. At press time, this was 16.927 million. If an asset\u2019s OBV is declining, it suggests that selling pressure is increasing and more sellers are in the market than buyers.<\/span><\/p>\n<figure id=\"attachment_301938\" aria-describedby=\"caption-attachment-301938\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09.png\"><img decoding=\"async\" class=\"size-full wp-image-301938\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09.png\" alt=\"\" width=\"2560\" height=\"1178\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09-300x138.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09-1024x471.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09-768x353.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09-1536x707.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/EGLDUSDT_2023-04-01_08-15-09-2048x942.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-301938\" class=\"wp-caption-text\">Source: EGLD\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">At press time, the coin\u2019s weighted sentiment was -0.442. A negative sentiment spanning a two-week period and still subsisting showed the presence of bearish conviction in the EGLD market.<\/span><\/p>\n<figure id=\"attachment_301939\" aria-describedby=\"caption-attachment-301939\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-301939\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/MultiversX-EGLD-08.15.11-01-Apr-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-301939\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>MultiversX launched four products in Q1 2023. Activity on the chain, however, continuedf to dwindle.\u00a0 Formerly referred to as Elrond, metaverse-focused project MultiversX [EGLD] confirmed the successful rollout of some new products in Q1 2023 aimed at driving more users to the protocol. Read\u00a0MultiversX [EGLD] Price Prediction 2023-2024 In a series of tweets published on<a href=\"https:\/\/ambcrypto.com\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\/\">Continue reading <span class=\"sr-only\">&#8220;MultiversX unveils plans to attract more users, how did EGLD react&#8221;<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":301944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-301914","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MultiversX unveils plans to attract more users, how did EGLD react - AMBCrypto<\/title>\n<meta name=\"description\" content=\"MultiversX [EGLD] confirmed the successful rollout of some new products in Q1 2023 aimed at driving more users to the protocol.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MultiversX unveils plans to attract more users, how did EGLD react - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"MultiversX launched four products in Q1 2023. Activity on the chain, however, continuedf to dwindle.\u00a0 Formerly referred to as Elrond, metaverse-focused\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-02T04:30:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/unnamed-file.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Abiodun Oladokun\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/0xAbiodun\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abiodun Oladokun\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/\"},\"author\":{\"name\":\"Abiodun Oladokun\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/448f3184b94221384fedfce7a5981ea2\"},\"headline\":\"MultiversX unveils plans to attract more users, how did EGLD react\",\"datePublished\":\"2023-04-02T04:30:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/\"},\"wordCount\":471,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/unnamed-file.jpg\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/multiversx-unveils-plans-to-attract-more-users-how-did-egld-react\\\/\",\"name\":\"MultiversX unveils plans to attract more users, how did EGLD react - 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