In a recent development, BitMEX Founder Arthur Hayes has made a notable switch from Solana to Ethereum. Also, the Total Value Locked (TVL) on the Cardano blockchain has skyrocketed. Meanwhile, a promising DeFi project named Everlodge is set to outshine both players, leveraging the $280 Trillion real estate market.
BitMEX Founder Leaves Solana for Ethereum (ETH), Predicts $5,000
Arthur Hayes, the founder of BitMEX, recently shared on X that he has switched his investment from Solana to Ethereum (ETH). Hayes has been a supporter of Solana and had predicted it would reach $100.
However, in his latest update, he mentioned that he has “dumped” Solana in favor of Ethereum. He also predicts that the alt coin could soar to $5,000 per coin, surpassing its previous all-time high. During the last bull market, Ethereum’s price peaked at $4,868 but didn’t hit the $5,000 mark.
With the current positive market trend and a potential Bitcoin ETF, Ethereum’s potential to reach or exceed $5,000 seems more likely. Raoul Paul, another famous figure in the crypto world, shares a similar view. He recently tweeted, “I think ETH outperforming BTC will be a key macro trend of 2024.”
Cardano (ADA) DeFi Ecosystem TVL Soars 6x
The Cardano (ADA) DeFi ecosystem has experienced a notable 2023. The total value locked (TVL) in DeFi protocols on this layer-1 network has increased 6x from its value in January 2023. In January, the TVL on the network was just around $50 million.
Cardano has recently surpassed and consistently remained above the $400 million mark, a first for the network. This significant rise in Cardano’s TVL has positively influenced its native Cardano coin. Since January, Cardano’s value has risen by 137%.
This has helped the alt coin to remain among the top ten largest cryptocurrencies by market cap. Currently, Cardano coin trades at the $0.60 region, with an increase of 66% in the past 30 days. According to CoinMarketCap, Cardano has a market cap of $21 billion.
Can Everlodge (ELDG) Outperform the Crypto Market
While Everlodge might have a smaller market cap compared to cryptocurrencies like Solana and Cardano, it is garnering attention. Analysts have identified the Everlodge ERC20 token as one of the top altcoins to watch. Everlodge (ELDG) is creating a unique marketplace aimed at transforming villas and hotels into fractional NFTs.
This approach allows traders to invest in these properties at more accessible prices. What’s unique about these NFTs is their value directly correlates with the actual property values. As the real estate prices increase, so does the value of the NFT holdings.
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Everlodge is also planning to roll out a lending feature. This will enable traders to get quick loans using their NFTs as collateral, a service not typically offered by traditional banks. The $ELDG ERC20 token stands out due to its extensive utility. It offers staking rewards for additional passive income and discounts on property purchases to make fractional ownership more affordable.
Additionally, it gives holders exclusive perks like free stays at Everlodge properties and access to special giveaways. Everlodge also provides access to the launchpad. Here, $ELDG holders can offer liquidity to developers for new projects, positioning themselves as early-stage investors in emerging real estate deals.
Conclusion
Although Ethereum and Cardano are established tokens, analysts believe that the DeFi project, Everlodge, can outpace them. Analysts cited Everlodge’s link to the real estate sector and the huge interest in real estate investment.
Everlodge is a groundbreaking project set to transform the real estate trading landscape. Currently, its ELDG tokens are priced at a mere $0.027. Market analysts foresee an impressive 3,000% surge in the value of ELDG.