Elrond (EGLD) Sees Higher Interest Than Bitcoin, Dogecoin On Twitter: What's Going On?

Elrond EGLD/USD was trending on Twitter at press time ahead of major cryptocurrencies such as Bitcoin BTC, Ethereum ETH/USD, and Dogecoin DOGE/USD.

What Happened: EGLD was mentioned in 7,128 tweets, while BTC, ETH, and DOGE were mentioned in 5,251, 4,112, and 3,964 tweets, respectively, as per data from Cointrendz.

See Also: How To Buy Elrond (EGLD)

EGLD led in terms of favorites and retweets as well on Twitter ahead of other major cryptocurrencies.

At press time, over 24 hours, EGLD traded 3.91% lower at $84.06. The cryptocurrency declined 14.51% over a seven-day trailing period.

Against BTC — EGLD declined 0.46% over 24 hours, while it rose 3.09% against ETH.

Since the year began, EGLD has risen 222.37%.

Why It Matters: On Tuesday, Maiar, a digital wallet and global payments app, tweeted that its Elrond-powered wallet allows users to create non-custodial wallets for BTC in seconds.

The Elrond project was founded in 2017 by brothers Beniamin and Lucian Mincu along with Lucian Todea with the aim of addressing blockchain scalability. 

See Also: Even A Tanking Bitcoin Is Good For Coinbase's Business, Goldman Sachs Says As It Reiterates Buy Rating

The project is focused on sharding as a solution and claims its smart contracts execution platform can process 15,000 transactions per second with a six-second latency and $0.001 cost.

Last week, the project announced a partnership with a United Kingdom-based fintech firm, Aurus, which would allow for gold, silver, and platinum tokens to be issued on the Elrond blockchain.

Read Next: Ethereum, Dogecoin Extend Major Losses In Bitcoin-Led Crash But This NFT Play Remains Unstoppable