aelf (ELF) has the highest trading volume of crypto’s biggest gainers, signalling widespread interest from the broader market. Find out where to buy ELF in the article.

Open-source blockchain aelf (ELF) has increased in price by around 40% in just 24 hours and has seen tens of millions of dollars in trading volume to boot. Could this mean that there could be more profit potential ahead, on top of the existing 72% weekly gains? Read on to find out.

How & where to buy aelf in the UK and elsewhere

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What is aelf?

aelf is an open-source blockchain designed to help businesses decentralise various aspects of their operations in order to improve efficiency and transparency. aelf builds on first- and second-generation blockchains by improving scalability through innovative consensus and governance modes, as well as the deployment of parallel chains.

As decentralised applications (dApps) gain traction in the mainstream, it is likely that more and more businesses will be looking for a blockchain to integrate dApp functionality into their operations. With aelf providing an open-source solution, it has the potential to gain huge adoption.

Should I buy aelf today?

Like a large portion of the crypto market, ELF’s price action seems to be improving, having suffered during the May crypto crash. A price floor seems to have been established now, and it is possible that a full-on recovery is now underway, thanks to this week’s impressive rally.

Having dipped in price ever so slightly from its weekly high, aelf could definitely be considered a ‘buy’ today: investors could benefit from a transitory discount before a further rally pushes up towards new highs.

ELF has the highest daily trading volume of all the top gainers in the crypto market today, implying that investors could be piling in en masse. If this leads to increased demand, then a further price rise could be supported by this fundamental change.

ELF price prediction

Right now, ELF is changing hands at around $0.25. Having rebounded ever so slightly off the monthly resistance at $0.26, aelf is looking to push upwards and force a breakout, which would confirm a trend reversal and put us back into distinctly bullish territory.

From there, traders can expect choppy price action up to around $0.33, and then onward to the $0.45 region. ELF has spent a lot of time in this region over the past three months, carving out a strong resistance/support level here.

This post was originally published on Coinjournal.