ELA (Elastos) rose 17.06% in the last 24 hours.

Gate News Bot news, on September 2, according to CoinMarketCap, as of the time of writing, ELA (Elastos) is currently priced at 1.63 USD, with a rise of 17.06% in the last 24 hours, reaching a high of 1.89 USD and a low of 1.20 USD. The 24-hour volume has reached 5.64 million USD. The current market capitalization is approximately 37.30 million USD, an increase of 5.44 million USD from yesterday.

Elastos is a Web3 infrastructure based on Bitcoin for security. It empowers users to take control of their digital lives through blockchain, decentralized identity, and secure off-chain data storage and networks, enabling ownership of identity, data, and digital assets. Elastos anchors its security using Bitcoin’s proof-of-work hash power and utilizes multiple sidechains to achieve specialized functions.

Important news about ELA recently:

1️⃣ Rollman Capital $20 million strategic investment

Elastos recently received a strategic investment of $20 million from Rollman Capital. This funding will be used to further develop and expand Elastos’s infrastructure, particularly in the Bitcoin financial sector. This move is expected to bring more application scenarios and value rise for ELA.

2️⃣ The ElaCity platform is officially launched.

Elastos launched a Web3 monetization layer platform called ElaCity. This platform aims to provide new revenue sources for creators and developers while offering users more Web3 application experiences. The launch of ElaCity marks a further expansion of the Elastos ecosystem.

3️⃣ BPoS NFT Staking Reward Program Launched

Elastos has launched the ELA staking NFT (BPoS NFT) based on Bitcoin Safety. This innovative mechanism not only increases the revenue channels for ELA holders but also enhances the security and decentralization of the network. The implementation of this plan could attract more investors to participate in the long-term holding of ELA.

From a technical perspective, the ELA price has broken through previous resistance levels, showing a strong rising momentum. Positive developments in the fundamentals, including significant investments, new platform launches, and innovative staking mechanisms, have collectively driven ELA’s market performance. These factors may continue to support ELA in maintaining upward momentum in the short term.

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