MultiversX (EGLD) — Price, Chart & Trade Analysis

MultiversX (EGLD) is a Layer-1 blockchain, originally launched in 2019 as Elrond Network before rebranding, with EGLD as the chain's native asset rather than an ERC-20 or SPL token.

The network supports smart contracts and hosts ecosystem applications, including the xPortal wallet and the xMoney payments product. MultiversX uses a sharded architecture designed to increase transaction throughput.

MultiversX differentiates itself through a sharding-based scalability design and a staking-secured validator network, rather than through a single flagship application.

Approximately 66% of circulating EGLD (roughly 17.51 million EGLD) is staked across roughly 126,000 delegators and validators, earning an average staking APR of approximately 8.17%. A planned Sovereign Chain Architecture expansion would let enterprises launch custom app-chains secured by MultiversX, requiring EGLD as collateral and extending the token's role beyond network fees.

EGLD functions as both a utility and governance token: it pays network transaction fees, secures the chain through staking, and carries governance voting weight.

• Validators stake a minimum of 2,500 EGLD to run a validation node.
• Delegators stake smaller amounts through staking providers to earn rewards and participate indirectly in consensus.
• EGLD pays network transaction fees.
• Staked EGLD carries voting weight in on-chain governance proposals.
• EGLD is designated as required collateral for enterprises launching custom app-chains under the planned Sovereign Chain Architecture.

EGLD's circulating supply is approximately 30,685,357.52 EGLD, with a market capitalization of approximately $119,566,580, as of 2026-09-01.

The token previously carried a fixed maximum supply of 31,415,926 EGLD, a figure deliberately chosen to reference pi. In October 2025, a governance ratification vote approved removing this fixed cap in favor of a model with approximately 9.47% annual tail inflation, offset by burning 10% of validator and transaction fees, making net emission dependent on network usage.

At launch, allocation included approximately 25% public sale, 19% private investors, 19% founders/team, and 17% treasury/reserve.

MultiversX launched in 2019 as Elrond Network (ticker ERD), raising approximately $5.15 million combined across a private round and a Binance Launchpad IEO.

The June 2019 private round raised $1.9 million from investors including Binance Labs, Electric Capital, NGC Partners, Maven 11, and Woodstock, alongside unnamed angel investors. A July 1, 2019 Binance Launchpad initial exchange offering raised a further $3.25 million. The project was founded in late 2017, roughly two years before its 2019 token launch, and ERD was later redenominated 1000:1 into EGLD as part of the rebrand to MultiversX.

MultiversX operates its own proof-of-stake Layer-1 blockchain rather than being issued as a token on another chain; EGLD is the chain's native asset.

The network uses an Adaptive State Sharding architecture with approximately 3,200 validator nodes distributed across three execution shards plus a coordination shard called the Metachain, giving a stated theoretical throughput of up to 100,000 transactions per second. Validators secure the network by staking EGLD.

MultiversX was co-founded in late 2017 by brothers Beniamin Mincu and Lucian Mincu together with Lucian Todea.

• Beniamin Mincu is CEO and co-founder; he previously worked on the NEM blockchain platform (2014-2015) and is cited as an early investor or advisor tied to Binance, Polkadot, and Tezos.
• Lucian Mincu is co-founder and Chief Information Officer, an engineer with an infrastructure and network design background.
• Beniamin and Lucian Mincu previously co-founded MetaChain Capital, a digital-asset investment fund, before starting the project.

MultiversX is stewarded by the MultiversX Foundation, a nonprofit incorporated in Vaduz, Liechtenstein, tasked with funding R&D, supporting builders, and managing the ecosystem treasury.

Core protocol and product development is carried out by a legally separate for-profit entity, MultiversX Labs, based in Romania.

EGLD holders govern the network on-chain, with voting weight tied to staked EGLD, either through delegation to validators or by running a validator node directly.

The most significant recent governance action was a ratification vote held October 15-22, 2025, which approved removing the fixed EGLD supply cap in favor of an annual tail-inflation model, described by the project as an "economic reset" intended to better fund validator rewards and ecosystem builders. An earlier "Barnard" governance vote was held June 9-19, 2025.

• Supernova upgrade: intended to finalize sub-second transaction finality and optimized cross-shard communication, described as completing across late 2025-2026.
• Staking v5: a new validator reward model implementing the post-vote tail-inflation economics, live on Testnet/Devnet as of November 2025, with mainnet launch described as upcoming.
• Sovereign Chain Architecture: a 2026-2027 expansion intended to let enterprises launch custom app-chains secured by MultiversX, requiring EGLD as collateral.
• A scheduled network upgrade prompted the Upbit exchange to temporarily halt EGLD deposits and withdrawals around August 6.

MultiversX maintains a vulnerability-disclosure process at multiversx.com/report for reporting protocol issues.

dApp-level audits exist for ecosystem integrations, such as a Hacken audit of a MultiversX MetaMask Snaps integration in May 2024, which reported 9 findings with no critical or high-severity issues. Holder concentration is notable: the top 10 addresses hold approximately 66% of circulating supply, though this includes exchange custody and network treasury addresses rather than solely private holders.