As Bitcoin (BTC) and Ethereum (ETH) make higher highs on the back of institutional interest, Everlodge (ELDG) is attracting attention due to its potential to transform the trillion-dollar real estate industry. The new entrant has surged by 170% during the presale event, but analysts predict this could be the beginning of a massive price rally. Let’s take a closer look.
Will Bitcoin (BTC) ETF Approval Be a Sell the News Event?
Bitcoin is leading this year as it breaks through major resistances and reaches prices not seen since April 2022. While the Bitcoin halving is certainly in investors’ minds, the potential for a spot BTC ETF is also a major factor behind this rally.
There is a growing belief that these ETFs will be approved in early January, which has caused the Bitcoin price to rally into the end of 2024. However, there is a concern that the ETF announcement could be a sell-the-news event and trigger a short-term correction to $35,000. There’s also an outside chance that the applications could be declined outright.
The long-term effects of the ETF on Bitcoin price are unknown, but if approved, it could bring in trillions of dollars from institutional investors. This could push the price of Bitcoin up beyond $100,000 and provide more stability to the market.
But what about the opportunity cost? While 100% gains are great for the traditional finance sector, Everlodge has gained 170% within months and looks set to continue its upward trajectory. Bitcoin profits are starting to flow into Everlodge, and this could be a sign of things to come.
Will Ethereum (ETH) Hit $10,000 In 2024?
Ethereum may also be getting its own ETF soon, although the exact timeline is unclear. This news saw the Ethereum price pump 10% within one day. However, Ethereum has been one of the worst-performing top cryptocurrencies all year and is struggling to break past the $2,400 resistance.
The rise of alternative layer-1 platforms is perhaps the top reason for this. While it costs around $50 to do a swap on an Ethereum DEX, it costs fractions of a cent to do the same on a Solana DEX. This has seen Ethereum fall behind Solana in total DEX volume for the first time in history.
One saving grace could be the upcoming danksharding upgrade called EIP-4844. This upgrade is designed to significantly reduce gas fees and increase scalability, making Ethereum more competitive. If this turns out to be true, Ethereum could start a bullish ascent to the $10,000 level by the end of 2024.
Ethereum holders are weighing up all this information and considering their next move. While a bullish case may see Ethereum rise by more than 300% to $10,000 if the TVL stays above $20 billion, is this enough reward for the risk involved?
Some holders are already jumping into the Everlodge presale to take advantage of the potential upside and diversify their holdings. Let’s see what all the fuss is about.
Everlodge (ELDG) Surges 170% In Presale Event
The ongoing Everlodge presale has been extremely successful so far — selling over 280 million tokens and rising from $0.010 to $0.027 today. But what is behind the Everlodge project, and why has it outperformed Bitcoin and Ethereum recently?
Everlodge is an upcoming platform that revolutionizes the traditional real estate market by enabling fractional ownership of luxury properties. The properties are digitized and minted as NFTs (Non-Fungible Tokens), ensuring security, transparency, and ease of transfer.
All of the property information is stored securely on the blockchain, and owners can benefit from rental income as well as potential capital appreciation. This gives the average person a chance to own a piece of luxury real estate that they otherwise wouldn’t be able to afford.
We're thrilled to announce that our website just got a makeover! Check out the fresh look and discover the NEW features we've added. It's all about making your experience even better!Plus, remember that our Presale is still ON. Explore now: https://t.co/SIYWBylwQD#RWA pic.twitter.com/aTuT8x7z36— Everlodge (@EverlodgeHQ) October 23, 2023
Another driving force behind the presale enthusiasm is the robust ecosystem that Everlodge offers. Beyond just investment opportunities, token holders benefit from the Everlodge Rewards Club, which offers perks like free stays at properties and discounts on services.
The Everlodge ecosystem also includes a Launchpad for property developers, a marketplace for buying and selling fractional property NFTs, and a lending facility for short to medium-term loans.
Analysts note that Everlodge is on the cusp of tapping into a global real estate market worth trillions of dollars. That’s why many are predicting the presale to reach its hard cap and the token to soar by 3,000% on the day of launch in early 2024.
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The post A New Crypto Dawn: Everlodge (ELDG) Presale Outperforms as Bitcoin (BTC) and Ethereum (ETH) Titans Watch Closely appeared first on BeInCrypto.