Lately, I've been wondering: what's going on with #MultiversX ? It used to be one of the most exciting blockchains out there. The price of $EGLD was soaring, users were pouring into the ecosystem and people were using it daily.
I still remember when EGLD was in the top 30 on CoinMarketCap and we all thought it was just a matter of time before it hit the top 10. But now? It has dropped to 130th place and keeps sinking lower. Its price and market value are performing much worse than most competitors.
The initial hype around it was driven by the MEX token and the NFT craze. While the global decline in interest for NFTs isn't MultiversX's fault, the failure of MEX certainly is.
From a technological perspective, MultiversX remains one of the best blockchains out there. Its speed, scalability, and innovative design are outstanding. However, as we can clearly see, technology alone isn't enough.
Right now, it's obvious that users don't have a strong reason to use MultiversX. There's no liquidity or enough opportunities to make money. And that leads me to a big question: why are people in crypto?
Most people in crypto are here to make money and I'm no different. Whether they invest or speculate, the main goal is profit. To succeed, you have to put emotions aside and think logically.
Even though I've been closely tied to MultiversX for a long time, with collaborations and friendships in the community, my goal has always been to earn as much as possible and secure my family's future. That's why I've gradually shifted my focus to other blockchains that offer more opportunities.
I still hold some EGLD in my portfolio, but it's shrinking as the price keeps falling. I'd really love to see MultiversX become popular again and maybe the launch of a native stablecoin will help, but we'll have to wait and see. As much as I wish things were different, my personal opinion is that EGLD won't reach a new ATH in this bull market.
The reason I'm sharing all this is simple: I believed in MultiversX for a long time and I thought it was fair to explain where I stand now. This isn't about influencing anyone. I just wanted to share my perspective. How the price compares to other projects is something everyone can see for themselves.
Unfortunately right now things look pretty bad. But a few green candles could change everything quickly. What MultiversX really needs is a spark. Something that gets people not just to buy and hold EGLD, but to actually use the blockchain. It doesn't matter if that's memecoins, NFTs, better security, or the stablecoin.
What about you? Do you still believe in EGLD?
