RO cryptocurrency reaches USD 600 mln capitalization

Elrond (EGLD), a cryptocurrency launched in July 2020 by Romanian-based startup Elrond, has reached a market capitalization of over USD 650 mln after its price went up by 62% just this year.

Elrond is now the 52nd biggest cryptocurrency in the world in terms of capitalization, according to coinmarketcap.ro.

Elrond was founded in 2018 by Romanian tech entrepreneur Beniamin Mincu together with his brother Lucian Mincu and Lucian Todea, who was previously involved as an investor in other promising Romanian startups such as SmartBill and Typing DNA.

Elrond aims to develop a blockchain designed to operate at internet-scale speeds and costs and to bring simple internet users into the cryptocurrency world, according to articles published by Beniamin Mincu on the company's website.

(Photo: Iurii Motov| Dreamstime.com)