Market participants are bullish, expecting prices to rally. CryptoKaleo, an analyst, predicts Cardano (ADA) and Bitcoin (BTC) will reach $11 and $49,000, respectively, in the future. Meanwhile, Everlodge (ELDG) may continue increasing in the sessions ahead.
Cardano staked rises to $8 billion
Cardano staking is gaining momentum. Cardano News reports that over $8.16 billion worth of ADA is staked, representing 63% of the coin’s circulating supply.
This has boosted ADA’s market cap to $11.83 billion and increased its trading volume by 103%, demonstrating growing interest and trust in the platform.
As of Nov. 9, Cardano was trading at $0.368306, up 19.95% over the past week.
Meanwhile, analyst Dan Gambardello is bullish on ADA, forecasting its market cap to rally to $400 billion.
Bitcoin could rally to $49,000
Technical analyst CryptoKaleo has set a target of $49,000 for Bitcoin, based on current price movement, which he believes is similar to December 2020 before the rally in 2021.
However, this forecast hinges on the U.S. Securities and Exchange Commission (SEC) approving spot Bitcoin Exchange Traded-Fund (ETFs), which Bloomberg experts believe is likely to happen.
The window for approval opened on Nov. 9 and will last until Nov. 17.
According to CoinMarketCap, Bitcoin is trading at $36,954, up 4.5% in the past week.
Everlodge to soar on spot Bitcoin ETF launch
Analysts predict Everlodge (ELDG) may benefit from a spot Bitcoin ETF launch.
Everlodge is an upcoming blockchain marketplace where users can own, buy, or sell real estate properties, such as vacation homes and hotels, as non-fungible tokens (NFTs). With Everlodge, users can invest in real estate for as little as $100.
The platform will also feature a rewards club, marketplace, launchpad, and lending platform. Users can use their NFTs to get loans and earn free stays in properties and hotels through the rewards club. The more active users are, the more stays they can make and sell for extra money.
Everlodge plans to lock up its liquidity for eight years and team tokens for two years to prevent a sell-off after launch.
Currently, ELDG, the platform’s native token, is available for $0.023 in the ongoing presale. Analysts predict more gains going forward.
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Source: https://crypto.news/crypto-analysts-bullish-on-cardano-and-bitcoin-everlodge-to-rally/