Elongate crypto is a low cap crypto gem with an active community with multiple products providing utility for the coin.
In addition to being DeFi centric, Elongate platform also makes donations which now total over $3.7 million to various causes globally. EG token, the native currency, is a Bep-20 token cryptocurrency listed on EGSwap, PancakeSwap and MEXC.
The EG ecosystem comprises multiple products that provide utility for the EG token. These include an NFT collection, Gator Gang, token burn function, a blockchain agency offering design and branding services, social impact portal, prediction service, EGSwap decentralized exchange with MEV bot protection, and EGSpectre for anonymous swaps.
These activities help generate and help balance demand and supply dynamics of the EG token. Part of the revenue collected is used for buy backs, burnt, or used for social impact.
EGspectre crosses $2million swap volume and other milestones
EGspectre is a compliant crypto service that enables you to complete cross chain swaps anonymously fast and at affordable prices. The platform does not charge user fees and does not accept payment, instead they receive commission from exchanges where they execute the trades.
In June, the platform’s swap volume crossed the $2 million mark and continues to rise this month. The largest swap on the platform also occurred on the platform in the same period. The trader swapped $40K worth of Ethereum (ERC-20) to Ethereum on Optimism.
As part of its compliance efforts, EGSpectre blocks wallets from sanctioned entities by the US, EU, or UN, with which anyone subject to those jurisdictions is prohibited from dealing. EGSpectre checks their internal database, the SDN list, and many other third-party data providers to block suspicious wallets known to carry out illicit trading.
EGSwap also partnered with Xenify to bring more anonymity for swaps. The algorithm now ensures transactions are safe, anonymous and untraceable.
EGSwap Buybot goes live
EGSwap have developed and launched their own Telegram bot following frustrations with existing Telegram bots.
The bot collects on chain data from staking pools and NFTs staking smart contracts to provide users with real time alerts. While exclusive for Elongate, the bot will later be trolled out for other tokens.
Price analysis: Elongate crypto faces rejection at $0.0009738
The Elongate crypto crypto movement contrasts its bullish run in the first quarter 2024. The difference is the rate at which the price changed. In the second quarter, the coin assumed a gradual bear run. It has so far lost over half its value from the annual high.
Also read: Why is ETH reacting stronger than Bitcoin to Mt. GOX sale? – Block254
EG’s downward trend comes as it faces rejection at $0.0009738. The current decline is gradual, and the positive momentum indicated by the MACD suggests the drop is slowing some more. Volatility has remained unchanged for the last two weeks, and the relative strength index is in neutral territory.
Looking ahead, the EG token price will drop lower in the coming weeks, noting that the general market sentiment has remained bearish. A market recovery however could result to a reversal from the last quarter’s drop.
