ELA (Elastos) rose 26.08% in the last 24 hours.

Gate News Bot news, on September 11, according to CoinMarketCap data, ELA (Elastos) is currently reported at $2.65, with a rise of 26.08% in the last 24 hours, reaching a high of $3.14 and a low of $1.46, with a 24-hour volume of $3.98 million. The current market capitalization is approximately $60.7 million, an increase of $1.26 million from yesterday.

Elastos is a Web3 infrastructure built on Bitcoin as a secure foundation. It enables users to control their identity, data, and digital assets. Elastos anchors its security to the proof-of-work hash power of Bitcoin and utilizes multiple sidechains to achieve specialized functions. ELA is the native token of the Elastos smart network, used in scenarios such as DeFi.

Important news about ELA recently:

1️⃣ Elastos ecosystem expansion Elastos is actively expanding its Web3 infrastructure ecosystem, providing users with more tools to control their digital identity and assets. This move is expected to enhance the practicality of ELA in decentralized applications and promote its value rise.

2️⃣ DeFi Function Enhancement The application of ELA in the DeFi sector is continuously deepening. As more DeFi projects are deployed on the Elastos smart network, the use cases for the ELA token in liquidity provision, yield farming, and other areas are becoming increasingly abundant, which may drive up its demand.

3️⃣ Security Upgrade Elastos continues to strengthen its security mechanisms based on the Bitcoin network, further enhancing its reliability as a Web3 infrastructure. This move helps to boost investor confidence and may be one of the factors driving the rise in ELA prices.

From a technical perspective, ELA has shown a strong pump after breaking through previous resistance levels, and a correction may occur in the short term. However, considering the ongoing improvement in its fundamentals, there is still room for rise in the medium to long term. Investors should closely monitor the further development trends of the Elastos ecosystem.

This message is not intended as investment advice; investors should be aware of market volatility risks.