The aelf (ELF) token is gaining for the 2nd day in a row moving up 6.59% after a week that saw its price drop almost by 35%. The token, built on a cloud-based multi-chain platform that allows each smart contract to run on its own blockchain, is currently trading at 0.57 USD. It’s also gaining against larger cap coins like the bitcoin and Ethereum moving up against them 3.92% and 7.47% respectively. Its 250 million units in circulation place it 77th with a market cap over 140 million USD.
A report by AELF on March 18th indicates a number of improvements made to the token’s ecosystem aimed at making it more efficient, stable, secure and scalable. The companies CEO had the opportunity to share insights on blockchain with software engineers from Uber and Airbnb, companies using technology to disrupt transportation and hospitality industries.
EFL was added to Btedo and Cointiger, two crypto exchange platforms and Coinomi, an e-wallet added to its system the capabilities to hold EFL tokens. This brings the number of exchanges trading EFL to 17 opening up opportunities for users on these platforms to access and trade EFL tokens without having to move to a different platform.
The cryptocurrency has also enjoyed an increase in the number of followers on different social media platforms and discussion forums and aelf (ELF) is looking to capitalize on these gains by launching official channels on Instagram and YouTube. AELF’s Chen Zhuling was interviewed on a number of platforms within the last 2 weeks, further reinforcing the increased interest in the token from the public.
South Korea is one of the most active countries in the cryptocurrency market, with over 50% of the global trade volumes originating from this country and AELF has entered that market. To achieve this AELF has partnered with Hashed, the largest crypto fund in the country. The team at hash includes experts in various facets of the crypto industry and is led by Simon Kim, a passionate evangelist of the blockchain technology who also organizes a community in South Korea where blockchain ideas are exchanged. EFL was also added to the exchange platform GOPAX which is the fastest and most reliable crypto exchange platform in South Korea at the moment and among the 20 best globally.
AELF is constantly looking for opportunities to expand their team which has seen the addition of UK based Ethiril and Dennis Furrer to the company. Its team comprises technology experts and its whitepaper details the technology used creating more confidence of the future of the EFL token among investors.
AELF is pushing for adoption of the blockchain technology at a global commercial level and their entry into the South Korean market with their cloud based blockchain network is geared towards this goal. A recent addition of JB Lee, a South Korean based business expert formerly working with McKinsey and Company, is also set to help aelf (ELF) create new partnership and accelerate EFL’s growth within the Asian state. The token is looking to leverage on its resource segregation capabilities (each smart contract has its own blockchain), cloud based scalable nodes and its governance and development model which lets token holders vote in decision making and in the selection of representatives.