Decentralized finance-focused protocols are seeing a sustained upward motility, and the momentum appears to be picking up pace now that the NFT sector has cooled off over the past 2 weeks.

Since the beginning of August, Elrond (EGLD) — a scalable and secure blockchain platform designed for distributed apps and enterprise-level businesses — has been in a stiff rally.

Information from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $52.00 on June 22, the toll of EGLD has charged 437% higher to a new all-fourth dimension high of $302.14 on Sept. 14.

EGLD/USDT 4-hr nautical chart. Source: TradingView

3 reasons for EGLD'southward surge include the total release of the protocol's Maiar substitution, the altcoin'southward listing on KuCoin, and a string of partnerships and integrations that expand the Elrond ecosystem.

DeFi capabilities follow the Maiar exchange launch

EGLD's contempo momentum results from the launch of the Maiar exchange, a DeFi protocol congenital on the Elrond network that allows users to trade and provide liquidity in various pools.

On Sept. ix, Elrond announced that U.Due south. citizens could brainstorm purchasing EGLD tokens direct through the Maiar app, thanks to integration with Moonpay, giving the project admission to the world'south largest retail economic system.

In an effort to concenter new users and display Elrond's capabilities, Maiar also launched a $100,000 "Boxing of the Yields" contest on Sept. 14, giving users an opportunity to win EGLD based on their trading volumes.

Commutation listings boost trading volume

Another reason for the recent strength seen in EGLD was its listing on the KuCoin exchange, the fifth-largest exchange by 24-hour trading volume.

New exchange listings are oftentimes followed by strong rallies for the token, especially when paired with perpetual futures markets or a tiptop-five exchange by trading book.

The token's addition to KuCoin and the launch of Maiar Exchange have brought a new level of exposure to EGLD. Subsequently, its 24-hour trading volume increased from a daily average of $83 million to $740 million on Sept. eleven.

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Ecosystem expansion

A tertiary factor backing Elrond'south rally is the growth of its ecosystem. Recent partnerships include adding AI-generated media content through a partnership with Humans, a platform integrating data and technology to generate AI models, and an agreement with NewsCrypto, which allows users to learn more almost Elrond through the platform'southward "crypto academy." Elrond also has a new integration with Copper, a major digital custody provider.

The network has as well partnered with companies focused on gaming, DeFi and cantankerous-chain transfers between Ethereum, Polkadot and the Binance Smart Chain.

According to data from Cointelegraph Markets Pro, market atmospheric condition for EGLD take been favorable for some fourth dimension.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and electric current market place weather condition derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activeness.

VORTECS™‌ ‌Score‌ ‌(green)‌ ‌vs.‌ EGLD ‌price.‌ ‌Source:‌ ‌‌ Cointelegraph‌ ‌Markets‌ ‌Pro‌ ‌

As seen in the chart higher up, the VORTECS™ Score for EGLD started to pick upwardly on Sept. 10 and reached a loftier of 77, effectually one 60 minutes before the price began to increase by 55% over the next four days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your ain research when making a decision.