There’s a month-old crypto coin that has soared to become the 49th most valuable digital currency on the worldwide market. It’s called aelf (ELF), and it is the highest price gainer today – according to CoinMarketCap. At $2.44 per coin, this currency has added 38% to its value in the last 24 hours. In the past week it’s gained 80%.
This baby cryptocurrency is catching everyone’s attention right now, and there are a few likely reasons:
The aelf coin is widening its footprint – quickly
Just in the past few days, this cryptocurrency has been added onto two major coin exchanges. First, it was announced that the aelf coin was hitting Bitfinex:
— Bitfinex (@bitfinex) January 24, 2018
Sure, a few other coins also got thrown into the mix, but Bitfinex doesn’t add just any old cryptocurrency onto its trading platform. And the fact that it is convertible into quite a few options is an added bonus.
So, that big news dropped yesterday from Bitfinex – and that most likely had something to do with aelf’s soaring price. If that wasn’t enough, this morning, it was announced that this coin will now be added to Huobi – another leading cryptocurrency exchange.
— ælf (@aelfblockchain) January 25, 2018
This coin is already available on a number of exchanges, including Binance and gate.io – but adding Hong Kong-based Bitfinex (one of the largest on the planet by volume) is a massive boost of legitimacy.
Oh, and aelf (ELF) is doing an airdrop
The second round of this cryptocurrency’s airdrop program – what they call a “candy system” – is now active. It has been for a few days now. All you have to do is follow the link and register, then verify your email, and you are all signed up.
That announcement really got Twitter excited. Just check out the comments on the following tweet:
— ælf (@aelfblockchain) January 20, 2018
Honestly, reading through the literature on aelf (ELF), it all seems a little bit familiar. It is a decentralized cloud computing blockchain network, and it is going to support the development of dApps and smart contracts for commercial purposes. Sound a little familiar? Ever heard of Ethereum (ETH) or Cardano (ADA) or TRON (TRX)?
But there is some novelty to this system that sets it apart – and that’s what I’m guessing is driving it’s price so high this week. Each smart contract runs on its own blockchain, for example – they won’t interfere with each other in any way. That boosts speed and efficiency.
The development is a novel design of this type of cloud computing network because it has parallel processing and nodes clustering – which massively amplify scaling. It has a multi-chain structure, and wants to construct what it calls a “Central Business District.” In this district, different industry applications have designated chains that are best for their particular needs.
Lastly, this coin has an innovative way of self-governing its protocol. It establishes a mechanism that provides incentives for the self-evolution of the network.
Actually, this coin could give TRON (TRX) and Cardano (ADA) a run for their money.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.