Bitcoin (BTC) consolidation boosts Everlodge (ELDG) and Injective (INJ)
Bitcoin’s recent bull run took the crypto market by storm. Hundreds of projects surged in value, and Bitcoin hit its highest price in 2023. Now, a recent consolidation has driven up the price of Injective and Everlodge, with Everlodge hitting a new all-time high after stage seven of its presale sold out. With Injective now chasing a new all-time high, investors are excited as to how high it could go.
Could Bitcoin Hit A New All-Time High In 2024?
Bitcoin recently passed $43,000 following the announcement of a potential U.S. spot Bitcoin exchange-traded fund (ETF). This announcement was made by the asset manager at BlackRock, who stated that its policy had now changed to allow Bitcoin redemptions. While the SEC still needs to make a decision about spot ETFs in January, the crypto market remains optimistic.
Prior to this announcement, some crypto experts predicted that Bitcoin could fall below $40,000 by the end of the year. However, Bitcoin’s value is up by 2.83% over the last week, with one BTC trading at $42,948. Should Bitcoin pass $43,000 again in 2023, experts believe it could reach $45,000 in January, and potentially pass $50,000 in Q1 of 2024.
Injective Surges By 2,700% In 2023
Injective hit a new all-time high of $39.88 on December 19th. This has triggered a 99% increase in Injective’s daily trading volume, which has passed $585 million. This new ATH comes following a 50% price rally over the last 7 days, and has made Injective one of the best performing cryptocurrencies in December.
This recent surge was linked to an increase in trading volume for INJ perpetual futures contracts, which hit over $25.5 billion in a single day. Furthermore, with Injective now being listed on a number of exchanges, the project has become easier to buy. As Injective continues to gain popularity, experts predict that it could break into the top 20 ranked cryptocurrencies within the next quarter.
Everlodge Soars During Crypto Bull Run
Bitcoin’s recent consolidation has been a big boost for Everlodge. The new DeFi project has already proven to be a big hit, and has sold out 7 presale rounds in just a few months. Now, Everlodge is expected to offer great returns in Q1 with its unique passive income opportunities.
Everlodge is the world’s first DeFi marketplace for travel properties. Described as DeFi combined with AirBnB, the project lets everyday investors buy equity in travel properties such as villas, holiday homes, and hotels.
To purchase equity, investors will buy fractions of NFTs that represent ownership in a property. They will then receive all the benefits of property ownership including rental income, price appreciations, and more.
In addition to its property marketplace, investors will also be able to invest in new property developments. These developments are expected to offer significant returns for holders, and could become a great way for investors to build and scale their portfolios.
Everlodge will use ELDG as its native token. Tokens will be used for transactions on the Everlodge site, and will also grant holders free stays at properties. Each stay will work like a timeshare, giving investors another reason to hold onto ELDG tokens.
Tokens are currently available for $0.027 per ELDG, and will increase to $0.029 once stage eight of the Everlodge presale is sold out. Upon launch, experts believe the project could see additional price increases of up to 35x, making ELDG’s current value a bargain.
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