MultiversX’s TVL has been on a rally since the year began. After the name change and rebranding in November 2022, the chain has seen increased user activity. Formerly referred to as Elrond, MultiversX, the metaverse-focused project, has seen a surge in its Total Value Locked (TVL) since the start of the year. According to data […]
After the name change and rebranding in November 2022, the chain has seen increased user activity.
Formerly referred to as Elrond, MultiversX, the metaverse-focused project, has seen a surge in its Total Value Locked since the start of the year., on a year-to-date basis, the TVL has increased by 27% to reach a total value of $105.06 million by press time. This TVL level was last registered on the network two months ago.In November 2022, the team behind MultiversX
its decision to change its name from Elrond and move forward under MultiversX and rebrand itself as a decentralized blockchain network with a focus on the metaverse.Following the rebrand, the launch of new products, and the promise of attached incentives have led to a jump in user activity on the network., the daily active addresses count on MultiversX rallied to an all-time high of 86,000 on 8 February.
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