The price of Matic is inching towards the 15, 20 & 25 moving averages The yellow lines represent the range between which Matic has been trading since July The expectation is for the price of Matic to drop to 0.76 in the next few days Note: Trading decisions should not be based on the opinion in this article, investors should conduct their own due diligence before buying the cryptocurrency. This article is purely based on my own research and understanding of the cryptocurrency in the article.
The rise in blockchain technology has led to a number of revolutionary initiative being currently worked on & explored. In addition to that, this has also led to an increase in the popularity of cryptocurrencies with investors either investing to back their favorite crypto projects that they believe in or investing to generate a decent return.
Seems like blockchains & cryptocurrency has been and will be benefiting individuals in different ways. Various industries are exploring the idea of blockchain to further enhance their values or serve their intended purposes.
What if someone could use the blockchain technology to give back to the world in the form of charity? Wouldn't that be great?
This is where the blockchain 'ElonGate' comes in. ElonGate is a blockchain solely based on the idea of charity. ElonGate began as a meme inspired by a viral tweet from the billionaire Elon Musk. However it has no association to the billionaire whatsoever.
As per the whitepaper, 'ElonGate's boldest goal is to ease the suffering of millions through charitable contributions'. The blockchain plans to achieve this by participating in fruitful discussions with charitable organizations educating them about the cryptocurrency and providing a bridge for real-world charitable endeavors. Elongate is currently on track to establish partnerships with organizations such as United Nations World Food Programme, Action Against Hunger, the Big Green Organization.
In the first month of its launch, ElonGate raised $1M in charity and has already donated a decent amounts to various charities such as Children International, The Ocean Cleanup and Action Against Hunger
Before moving on, I think it is important to take a second to appreciate the efforts by the Elongate blockchain team on looking to solve real-world problems using the revolutionary blockchain technology. Not only that, by bringing charitable organizations on board to participate in the crypto world, they are extending the charitable reach of these organizations.
Let's now talk about how this impacts the ElonGate's native token and its future outlook.
There are three fundamental utilities of ElonGate's token:
- Earn: earning by token holders in the form of re-distributed transaction fee among holders and the rise in the value of the token
- Burn: Reducing the supply of the existing ElonGate tokens based on the blockchains policies, in turn increasing the price of the outstanding token supply
- Charity: Serving the intended purpose of the blockchain by donating to approved charities
Investor investing in ElonGate could be made up of two categories, firstly those who invest to support the project and secondly those who want to hold the token in the aspiration of selling them at a higher price.
The price of ElonGate token could rise if the demand for the token increases, which might be possible if more charitable organization hope on board, this could encourage investors to invest in the blockchain seeing their preferred charitable organization being a partner of the blockchain.
Given that ElonGate is already working on partnering up with well-known charitable organizations like the United Nations, this might be an achievable future project for them. Furthermore, ElonGate plans to forge corporate partnerships which would extend its outreach even further.
Overall, ElonGate seems to be a promising project to look into and also a reason to use the crypto revolution for the greater good.
The ElonGate token currently trades at US$0.00000051 per token
Digital Coin predicts the price of ElonGate token to rise to $0.00000243 by 2028
Wallet Investor on the other hand forecasts the price of the ElonGate token to end at $0.000014 by the end of 2021 & $0.000065 in five years time.
Note: Price forecast are predicted using mathematical models and shouldn't be used for investment decisions.Trading decisions should not be based on the opinion in the article, investors should conduct their own due diligence before buying the cryptocurrency. This article is purely based on my own research and understanding of the cryptocurrency in the article.
If you liked my explanation of ElonGate & the ElonGate Token, let me know in the comment section which currency would you like to cover next.
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