In a development that has taken the crypto world by storm, Kraken, a crypto exchange, is facing yet another lawsuit. In this lawsuit from the US SEC, Cardano (ADA) has been categorized as a security. In other news, Ripple (XRP) is preparing for a price recovery following institutional interest, while Everlodge (ELDG) eyes significant growth.
Ripple (XRP): Rise in Institutional Interest
The price of Ripple (XRP) is gaining traction following capital inflows from institutional investors. According to CoinShares, digital asset investment products saw inflows of about $176 million last week. XRP, specifically, saw an inflow of $500,000.
The Ripple price is likely to soar in the future because of increasing institutional interest. In addition, the Ripple lawsuit, which is nearing its final stages, will be a catalyst for its uptrend.
Cardano (ADA): a Security?
The SEC’s lawsuit against Kraken has set the crypto community abuzz. The US-based crypto exchange has been sued by the Securities and Exchange Commission (SEC). In a press release on Nov. 20, the agency accused Kraken of unlawfully making hundreds of millions of dollars by facilitating the trading of crypto assets securities.
Notably, Cardano (ADA) was listed as one of the assets traded unlawfully by the agency. This follows its ongoing lawsuit against exchanges like Bittrex, Coinbase, and Binance, in which ADA was also categorized as a security. This Cardano news now has been the subject of much speculation across social media platforms, including X (formerly Twitter).
Further, this Cardano news could have a negative price impact. This means a potential decline in the price of ADA is feasible.
Everlodge (ELDG): A Promising New Player
Everlodge (ELDG) is positioned between innovation and major growth thanks to its blend of real estate and blockchain. Ultimately, it has become an investor favorite.
As a unique property marketplace, it will operate within three guidelines: complete decentralization, instantaneous purchases, and full anonymity. This will help it disrupt the traditional real estate industry. Typically, property ownership is associated with the wealthy, but with Everlodge, that is about to change.
By introducing a fractional investment model and employing NFT technology, it aims to reimagine property ownership and investment. With as little as $100, investors can partially own a vacation home in Hawaii. That isn’t all; asset-backed NFTs can be easily traded on the marketplace, turning real estate into liquid assets.
In summary, investors will enjoy similar benefits as those who invest in traditional real estate, but with a more enjoyable experience.
The Everlodge presale is in its early stages, currently at stage seven. It costs only $0.025 per token.
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