Algorand (ALGO) and Aave (AAVE) are two of the most established players in the DeFi space, with a combined TVL of more than $7b. However, the market moves rapidly, and Everlodge (ELDG) is shining as a promising new contender with a 170% price surge during an ongoing presale event. This article will explore the potential of Everlodge and how it compares to established projects like Alogrand and Aave.
Algorand (ALGO): Can It Break Through the $0.30 Resistance?
Algorand is a layer-1 blockchain that is targeting the decentralized finance space. It was founded by Turing Award winner Silvio Micali and is designed to be a highly scalable, secure, and decentralized network.
This impressive technology caused the price of Algorand to soar to $3.28 and a market cap of almost $13 billion in late 2021. However, the price of Algorand now sits at $0.20 after a brutal bear market.
Algorand has a current TVL (Total Value Locked) of $85 million, with $75 million being from stablecoin pools. While this is 100% from the TVL of two months ago, this is still a fraction of what other layer-1 blockchains like Ethereum have achieved.
Algorand holders will take confidence from the Algo Summit, which revealed a number of new partnerships and use cases. These include a new partnership with the United Nations Development Programme to start a new blockchain academy. It is these partnerships that will determine the success of Algorand moving forward.
While Everlodge has crafted a niche within a $280T industry, Algorand is battling to win developers and users from other established networks. Still, analysts note that the price of Algorand should rise in a bull market if it can surpass the resistance at $0.30.
Can Aave (AAVE) Hit $1,000?
Aave is a liquidity protocol that allows users to lend, borrow, and earn interest on crypto assets. It is a decentralized finance (DeFi) project built on the Ethereum blockchain and has been a popular choice for institutional investors due to its high liquidity rates.
The Aave platform has an impressive TVL of $6.35 billion, making it one of the most successful DeFi projects in terms of locked value. The Aave price is 84% down from the all-time high of $666.86 in 2021, but the recent surge since mid-September will have investors feeling optimistic.
According to analysts, Aave has a strong chance of reaching its previous all-time high in the coming year. This is due to Aave being such a large player in the DeFi space and continuously innovating to attract new users and provide more features.
However, the rise of other liquidity protocols, such as MarginFi and SolFi, could threaten Aave’s dominance in the longer term. It will be important for Aave to continue evolving and adapting to stay ahead of its competitors.
The Aave chart shows that the next resistance sits at $120. Breaking through this level could see Aave catapult to new highs in 2024, with $1,000 as a realistic target. The $80 level is the nearest support and must hold for the bullish momentum to continue.
Everlodge (ELDG)’s NFT Approach to Real Estate
The real estate market is a trillion-dollar industry that wealthy moguls have long dominated. Everlodge has arrived to change the game with its innovative approach to real estate using blockchain technology and non-fungible tokens (NFTs).
Everlodge works by tokenizing real estate assets and offering them as NFTs, allowing investors to buy and sell shares of properties on a decentralized platform easily. Not only does this open up the real estate market to a wider range of investors, but it also provides liquidity and transparency that traditional real estate lacks.
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Central to the Everlodge ecosystem is the ELDG token. This digital currency is designed to offer reduced prices on property purchases, transaction fees, and maintenance costs within the Everlodge ecosystem. It can also be staked for passive income, which means investors can earn in multiple ways with Everlodge.
ELDG can now be bought for just $0.027 during the eighth presale phase after a 170% surge in price in recent weeks. However, the next price rise will occur anytime in the following weeks, so investors should act fast if they want to secure their tokens at a discounted price.
But just how high can Everlodge go in the DeFi space? Industry experts note that Everlodge is poised to change an entire industry with a product that offers real-world use cases. As such, they predict a bullish scenario, with an expected 30x spike on launch day and an even higher price increase in the long term.
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Source: https://www.analyticsinsight.net/a-new-contender-in-defi-everlodge-eldg-shines-outpacing-algorand-algo-and-aave-aave/