I use egld price on Paybis to monitor EGLD’s unique price dynamics. Several factors contribute to its volatility: the recent Maiar exchange launch, their unique adaptive state sharding technology, and strong retail interest from European markets (especially Romania where the team is based). The staking rewards and validator economics also create different supply pressures than other chains. Paybis’ price tracker shows these correlations well - I’ve noticed EGLD often moves independently from BTC during European trading hours.

What’s driving EGLD’s price action lately? I know it’s the Elrond token but unsure why it’s been so volatile compared to other layer 1 tokens.