Elastos is a blockchain platform that offers a layer 2 solution over Bitcoin. The project was founded in 2017 and leverages the SmartWeb technology to improve Bitcoin transactions.
This leads to the release of millions of dollars of staked assets in Bitcoins. Elastos is referred to as the ‘internet of wealth’, for creating a safer internet.
This article is your go-to guide to understanding the Elastos platform and its utility token ELA.
I will discuss the key features of the project, the economics of its token, its past performance, and future price forecasts. In the end, you can also find the details of where and how to buy the ELA token. Let’s get started without any further ado.
Elastos (ELA) Key Features
The Elastos platform has a range of unique features. Here are the details.
| Decentralized Internet Operating System | Elastos is an open-source Internet Operating System offering a secure, private, and user-centric web. |
| Smart Contracts | Elastos can authenticate digital rights and convert digital information into assets. |
| Bitcoin Transactions | Elastos comes with Bel2, a layer 2 solution over Bitcoin, which improves its efficiency and scalability via smart contracts. |
| Merged Mining | Elastos is known as ‘BTC Queen’ for the platform’s excellent security features owing to merged mining. |
Elastos (ELA) Tokenomics
ELA has a total supply of 25,490,921 tokens and a maximum supply of 28,219,999 tokens. Only 21,974,185 ELA are in existing circulation.
Elastos (ELA) Past Performance
ELA token started trading in early February 2018 at a launch price of 41.32. The token immediately found some market interest and hit an all-time high of 81.32 in late February. It was followed by a gradual correction and by February 2019, ELA was trading at around or below $2.
This continued for quite some time until the token regained its momentum in December 2023, when it hit a one-year high of $5.17.
While writing this article, ELA is trading at $5.12, which is 22.85% up from its price yesterday.
The market capitalization is now at $112.6 million. At $21.9 million, the token’s 24-hour trading volume is up nearly 550%.
Elastos (ELA) Price Forecast
Technical indicators suggest that the current market sentiment is bullish and the fear & greed index is at 71 indicating greed.
Elastos recorded 16 (53%) out of the last 30 days in the green region with a modest 7.42% price volatility. Our analysts think that now is a good time to buy Elastos.
2024: Based on technical analysis of the past month’s data, the price of the Elastos token is expected to drop by 2.10% and hit $4.87 by early May.
2025: Moving to 2025, the ELA price is expected to fall between $3.40 on the one end and $5.64 on the other. If we compare the upper price target to today’s price, it will equal a 14.13% return on investment.
2030: Fast forward to 2030, the price forecast for 2030 is in the range of $0.539233 on the lower end and $ 2.57 on the high end. Compared to today’s price, the token could lose up to 90%.
Where to Buy Elastos (ELA)?
Thanks to its popularity, you have quite a good amount of options to buy ELA from.
Centralized Cryptocurrency Exchanges(CEXs)
Decentralized Cryptocurrency Exchanges(DEXs)
- Uniswap
How to Buy Elastos (ELA)?
Follow the below steps to buy ELA from Coinbase.
- First, visit the Coinbase website and sign up for a free account. Also, complete the KYC to start trading.
- Top up your wallet with funds in the form of US dollars, BTC, or ETH, and use them to buy USDT stablecoins.
- Go to the trading section and type ELA/USDT on the search bar.
- On the order details, choose ‘limit order’ and enter the amount of tokens you want to buy.
- Click ‘buy’ followed by ‘confirm’ and your ELA tokens will now appear in your Coinbase wallet.
Conclusion
Elastos poses itself as a new generation of internet, with more decentralized and secure offerings. As a layer 2 solution over Bitcoin, the project has solid credibility compared to its competitors.
Before 2024, ELA, the native token of Elastos, has been doing poorly in the market. But, starting with late 2023, the token has significantly appreciated and our analysts think that this will continue for a while longer.
All being said, crypto markets are extremely volatile and are susceptible to market swings. The reader is advised to do their research before putting money into such investments. More importantly, do not invest with your medical emergency fund or with leveraged funds.
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