Ethereum (ETH) and Shiba Inu (SHIB) are two leading altcoins that have struggled recently in the crypto market.
However, ETH is seeing improving sentiment as investors return while the price of SHIB continues to decline. Meanwhile, a new project bringing tokenization to real estate, Everlodge, has been gaining momentum.
Ethereum (ETH) Gains Investor Interest
Throughout 2023, there has been a decline in investor interest in the Ethereum coin. This was made obvious by the decline in the institutional investment received by ETH. Many analysts linked this to the declining Ethereum price.
However, while there has been no improvement in the price of Ethereum, there has been an improvement in investor sentiment. The Ethereum open interest (OI) in the derivatives market recently increased by $93 million to reach $6 billion.
According to analysts, a rise in investor sentiment could lead to Ethereum recovering from $1,600 to a target of $1,700. Recovering this level will give Ethereum the support it needs to target higher levels above $1,800.
Shiba Inu (SHIB) Price Decline Continues
Like Ethereum, the Shiba Inu coin, SHIB, has been struggling to maintain a steady price. From a price of $0.00001105 in August, the price of SHIB has plunged to $0.000006742 in October. This price drop contrasts with the growing positive sentiment around Shiba Inu.
Analysts predicted an increase in the SHIB amidst its Shibarium launch and an uptick in the Shiba Inu burn campaign. However, the Shiba Inu price remains down by 5% over the last 30 days. With its current poor performance, SHIB holders are looking to future events for a relief rally.
In the next few months, the Shiba Inu team will launch ShibaSwap 2.0, a Shiba Inu metaverse, ShibaNet, Treat Token, and SHI Stablecoin. With these projects, analysts have predicted that the price of Shiba Inu could recover lost ground in 2023.
Everlodge Brings Tokenization To the Real Estate Sector
Tokenization is an emerging trend in the blockchain space, with a recent report predicting that it could grow to $16 trillion in the coming years. Everlodge seeks to be at the center of this growth, creating a marketplace for the tokenization of real estate properties.
The marketplace will create digital assets to represent vacation home properties like luxury villas, hotels, and vacation homes. By tokenizing real estate properties, Everlodge seeks to make them more accessible than ever before.
As the marketplace operates on a public blockchain, not only the privileged or institutional investors have access to these properties, but the entire public at large. The marketplace will combine this with asset fractionalization. By dividing NFTs that represent these properties into smaller shares, Everlodge will allow investors to start investing from just $100.
This unique co-ownership model has been projected to attract thousands of investors to Everlodge. As a result, market analysts are bullish about the utility token that runs the ecosystem, ELDG. ELDG currently trades at $0.023 in its sixth presale stage, but analysts predict a rally to $0.50 when the marketplace is launched. For more information about the Everlodge (ELDG) Presale you can visit their website or join their community here.
Top crypto platforms in the US | December 2023
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