Recently, analysts were predicting a $50 billion market cap for Ripple, but this now looks less certain. We’ll look at the reasons. Coins that seem to be attracting attention include Avalanche and Everlodge. Read more to find out what the reasons for these predictions are.
Ripple ETF Fakeout Hurts XRP Price
It turns out that, for a short time at least, people are able to manipulate the market with fake news about ETF filings. The fake BlackRock ETF submission around Nov. 14, caused Ripple to spike up but then drop by 10% after it was confirmed as fake.
Ripple has been declining in price ever since. Just two weeks ago, analysts predicted a possible $50 billion market cap target for November. At the time of writing, the market cap of Ripple is currently very far from this, at around $32 billion.
Still, whilst this target seems unlikely any time soon, Ripple’s drop in price follows a larger trend in the crypto markets, as the market is experiencing a correction, possibly linked to higher US treasury yields.
Avalanche Is Everything to Everyone – Except Their Newly Laid-off Staff
Ava Labs, the company behind Avalanche, recently restructured, laying off a third of their workforce, mainly concentrated in the marketing division. They cited the preceding bear market and poor macroeconomic reasons as the cause. At the same time, they are expanding into India, giving them a lot of opportunities to capitalize on this huge nation.
This strategy seems to be paying off, as while they are also experiencing the market-wide correction, Avalanche is up by 14% on the one-week chart and an impressive 88% on the one-month chart.
Avalanche seems to be going for a “cover all bases” approach, promoting their suitability for projects such as gaming (using subnets), TradFi (including borrowing and lending), art, and the Core wallet which is apparently 10x faster than MetaMask on Avalanche and makes staking easy.
Everlodge has a killer business model
Even with the current crypto retracement, one project that continues to rise in price is Everlodge. ELDG is currently in its presale stage at $0.027, up 170% from its starting price, but still with lots of room for growth before it goes live on exchanges at $0.035.
The secret behind the success of the presale is its proposal as a DeFi project. Everlodge is a platform to invest in the real estate industry, but with a twist: the project targets the vacation rental market. By minting NTFs of the properties and fractionalizing them into equally valuable pieces, Everlodge democratizes the market as it opens it to investors of any kind of wealth. In fact, any investor can invest in any property for only $100.
For many people, owning a vacation home to put on Airbnb is just a dream. But with Everlodge, people from all walks of life can co-own things like luxury townhouses in London, villas in LA, and lodges in Botswanan Game Reserves.
As analysts such as the Oracle of Wall Street have pointed out, Gen Z and many millennials have missed out on homeownership and now have no way of getting on the property ladder. This means they lose one of the major ways of wealth generation since interest rates are higher than ever and deposit prices are almost impossible for average people to achieve.
Everlodge offers a way around this where credit history, location, and job titles don’t matter, all people need is a few hundred dollars to begin their property investment journey.
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