CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Aelf price prediction: Is ELF about to make a comeback in 2023?

By Mensholong Lepcha

Edited by Valerie Medleva

14:32, 5 January 2023

AELF (ELF) cryptocurrency. Stack of black and silver coins. Cyber money.
ELF is the native token of Aelf, a multi-chain layer-1 network. Photo: RuskaDesign / Shutterstock

ELF, the native token of layer-1 blockchain Aelf, posted robust gains in December 2022 on the back of multiple network developments, including the formation of a decentralised autonomous organisation (DAO). Despite the strong finish, ELF posted yearly losses of about 55% in 2022.

Learn about the blockchain, the token’s price history and the potential aelf price prediction for 2023 and beyond below.

What is Aelf?

Aelf is a multi-chain layer-1 network that aims to be a high-performance platform for businesses. It is structured as a “one main chain and multiple side chains” system.

According to the company’s whitepaper:

“Each chain is dedicated to one type of transaction and resolves one type of business problem. This makes the whole structure and data more simple and more tailored to commercial requirements. By adding new SideChains to aelf, aelf will be empowered with new functions and maintain an "easy to manage" structure.”

The sidechains on Aelf are categorised into two types. Internal sidechains are chains that use the ELF token. External sidechains are chains that can expand to other blockchain networks and support their tokens.

Aelf uses the delegated proof-of-stake (dPoS) consensus mechanism, a variation of the proof-of-stake (PoS) consensus where stakeholders delegate the responsibility of validating blocks to other parties. According to CoinMarketCap, dPoS delegates are elected based on their reputation, and dPoS blockchains run faster than PoS and proof-of-work (PoW) blockchains.

In July 2022, Aelf claimed that the execution speed of smart contracts on its chain was tested to be 1,000 times faster than that of the Ethereum Virtual Machine (EVM). EVM is the software that executes smart contracts and creates new blocks to be added to the Ethereum blockchain.

What is the ELF token?

ELF is the native token of the Aelf blockchain. It’s used to pay transaction fees and sidechain index fees, for production node deposits, voting and block rewards.

The total supply of ELF is capped at one billion tokens. ELF tokens undergo halving events that reduce the block rewards by half every four years. ELF has a burning mechanism where 10% of all transaction fees are burned. The remaining 90% goes to the main chain reward pool.

As of 4 January 2023, ELF tokens exist in four different forms as a native main net token, as an Ethereum-based ERC-20 token and Binance-based BEP-20 and BEP-2 tokens.

There are other tokens within the Aelf ecosystem. They are:

  • Resource token. Used by developers to pay for resources when decentralised applications are running

  • VOTE token. Used to obtain voting rewards

  • SHARE token. Used to obtain sidechain rewards

  • Custom tokens created by developers 

Background check: The project’s origins date back to 2017

Aelf, originally known as Grid, was founded by Haobo Ma and Zhuling Chen in 2017. The company is headquartered in Singapore. According to the LinkedIn profiles of the co-founders, Ma is the current CEO and Chen is no longer with the company.

In late-2017, Aelf conducted a private token sale, raising 55,000 ETH by selling 250 million ELF tokens. 1kx capital, Alphabit, BlockTower, FBG Capital, Galaxy Partners, Hashed, Hyperchain, LinkVC and Signum Capital were among a dozen of institutions that participated in the capital raise.

Blockchain research firm Messari said 63% of the initial ELF supply was allocated to founders, 25% was allocated to investors and 12% was earmarked for mined rewards and airdrops.

In a 2017 press release, it was announced that Singapore-based Aelf Foundation will promote Aelf’s technology development and applications while Beijing Hoopox Information and Technology, founded by Ma, will be responsible for the project’s technological development.

Historic price analysis of ELF: Down 55% in 2022, up 8% in 2023 

Historical ELF price data shows that the ELF token opened trading at $1.09 on 21 December 2017. The token saw high interest in its first full month of trading, nearly tripling its price to surge to an all-time high of $2.97 by 7 January 2018.

Historical ELF price chart

DOGE/USD

0.16 Price
+0.690% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ETH/USD

3,130.75 Price
+1.180% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.53 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BCH/USD

489.10 Price
+4.480% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

After trading range-bound for the first four months of 2018, it started seeing selling pressure from May 2018 onwards. The token saw nine consecutive months of losses between May 2018 and January 2019.

Despite recovering in the months that followed, ELF was unable to sustain its recovery and fell to an all-time low of $0.0315 in March 2020.

Since then the token has gradually recovered. In September 2021, ELF rose as much as $1.38, its highest since May 2018, amid a booming cryptocurrency market.

In 2022, as macroeconomic conditions soured the cryptocurrency market fell into a bear market. ELF mirrored broader market losses, posting a yearly loss of about 58% to close at $0.156.

At the time of writing on 5 January 2023, ELF token was trading at about $0.166, 94% below its record high. ELF was the 182nd largest crypto in the world with a market capitalization of $88m.

Latest ELF news: DAO created 

Aelf posted a strong end to 2022 as the ELF token surged about 25% in December 2022.

The biggest news during the month was the announcement of the formation of a DAO which is expected to transform Aelf’s governance structure and facilitate “deeper decentralisation”.

The Aelf DAO will give users access to network decision-making, provide grants to developers, allow developers to apply for side chains to build their projects and more. 

The blockchain network also announced the Aelf v1.2.2 network upgrade. It will optimise developer experience and user experience, and enhance vote transfer, contract upgrades, contract deployment and transaction fee exemption.

Furthermore, Aelf said it would keep its token swap portal running for another three months until March 2023. The portal will allow holders of non-native ELF to exchange their tokens for native ELF. Native ELF will give users additional functions like staking, voting, resource token purchase and gas fee payments.

Aelf price prediction for 2023 and beyond

At the time of writing, CoinCodex’s short-term aelf coin price prediction indicated that the token’s value could rise to $ 0.1805 by 10 January 2023. However, ELF was forecast to lose its value in CoinCodex’s one-month ELF price prediction, slipping to $ 0.1248.

Over the long term, artificial intelligence-based forecasting service Wallet Investor was bearish in its aelf price prediction for 2023. The EFL token was seen trading at $0.0194 by the end of 2023. The website’s aelf price prediction for 2025 saw the token falling to an average price of $0.0056 by the end of 2025.

Meanwhile, Price Prediction’s aelf crypto price prediction saw the token trading at an average price of $0.24 in 2023, $0.49 in 2025 and $1.52 in five years’ time.

DigitalCoinPrice’s aelf price prediction for 2030 was also positive and expected the ELF token to trade at an average price of $1.69 in 2030.

When considering aelf coin price predictions, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, you should always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

FAQs

Is aelf a good investment?

Whether ELF is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And neve invest money that you cannot afford to lose.

Will aelf go up?

The direction of the ELF price could depend on the development of the Aelf project and the trends on the broader cryptocurrency markets, which the price tends to follow.

Keep in mind that analysts and algorithm-based forecasters can and do get their predictions wrong. Past performance is no guarantee of future returns. Always do your own research. And never invest what you cannot afford to lose.

Should I invest in aelf?

It’s important to stay on top of the latest Aelf project news and cryptocurrency market developments to decide whether you should invest in the token. Keep in mind that past performance is no guarantee of future returns. And never invest what you cannot afford to lose.

Related topics

Rate this article

Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 610,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading