Elrond Network hits yet another all-time high

The launch of Elrond Network’s Maiar DEX platform has catapulted the altcoin to yet another all-time high.

In what the Elrond team called potentially the “largest DeFI incentive program to date”, the incentives will be denominated in MEX – the Maiar DEX utility, and governance token.

Elrond is a blockchain network that employs adaptive state sharding and secure proof-of-stake, while running on average computers, avoiding the high energy consumption of most blockchain networks.

The altcoin surged almost 20% over the weekend as it hit an initial all-time high of $478.99 on Monday, before breaking it once again, reaching a high of $492.24.

Beniamin Mincu, CEO of Elrond Network, called the launch of the DEX platform a ‘massive step forward’ for the future of the platform.

Cryptocurrency analyst Brad Laurie was bullish on Elrond’s latest all-time high and said it may be the beginning for the Romanian start-up.

“If you think $EGLD ‘s price growth is impressive, wait until you see what happens with many start-ups and tokens coming to their platform,” Laurie said.

“They have so many big influencer backers, many exchanges, certain crypto VCs, media agencies, and other launchpad networks all supporting them.”

The public sale date for Maiar’s first IDO, Audi-backed crypto project Holoride ($RIDE), will be November 26.