Is elastic higher than 1?

Excuse me, could you please clarify something for me? I'm reading this passage and it mentions the term 'elastic' in relation to a certain financial metric or cryptocurrency characteristic. I'm wondering, when we talk about 'elastic' in this context, are we referring to a value that is inherently greater than 1? Or is this simply a question that requires further contextual information to answer accurately? I'm just trying to get a better understanding of how this term is being used and what it might imply for the topic at hand.