According to recent news, Cardano’s total value locked (TVL) increased, surpassing that of bitcoin. Additionally, Tether has increased its USDT reserve on Tron with an additional 1 billion USDT. Meanwhile, a new project, Everlodge, continues to gain traction.
Cardano TVL outperforms bitcoin
In Q3 2023, the Cardano ecosystem saw rapid expansion, attributed to increased developer activity and positive market sentiment.
Cardano’s total value locked (TVL) increased to $240 million, securing its position as the 11th most active blockchain. This increase also caused the project’s TVL to reach an all-time high.
The catalysts behind this growth include system updates and the introduction of stablecoins.
As a result, Cardano surpassed bitcoin in the decentralized finance (defi) TVL rankings.
Despite a 1.7% drop in ADA Prices on November 7, settling at $0.346388, the overall trend remains bullish on the weekly and monthly time frames, where the coin rose by 16.5% and 35.0%, respectively.
Tether increases USDT reserves on Tron
On November 6, Tron DAO revealed that Tether, the dollar issuer, had injected an additional billion USDT into Tron. This subsequently raised the total USDT reserves on the network to over $45 billion.
This development positions Tron as the highest USDT allocation. Of note is the notable growth in Tron’s circulating USDT supply throughout 2023, recording a 21% growth rate so far this year, according to Tronscan.
Unlike, TRX Prices fell in November after rebounding in October. On November 7, the coin was trading at $0.096452.
Despite this drop, analysts remain bullish on TRX, expecting the currency to rebound once the first bitcoin exchange-traded fund (ETF) is approved in the United States.
Analysts expect TRX to hit $0.095 after bitcoin halving in 2024.
Investors exploring Everlodge
In 2023, Everlodge gained huge popularity due to its platform that aims to optimize real estate investment through blockchain.
Everlodge plans to reshape real estate and subsequently attract the attention of analysts and investors.
Unlike the traditional real estate market that requires significant initial investments, Everlodge aims to disrupt this approach by allowing people to start investments with as little as $100.
Properties such as hotels, villas and houses are transformed into non-fungible tokens (NFTs), which are further fractionated and divided into smaller parts for affordable purchase. As the value of the property appreciates, so do the associated NFTs.
In contrast to the long lead times of traditional real estate transactions, which can extend up to seven weeks, Everlodge offers a solution through its marketplace. In this case, a rapid sale or trade of property-backed NFTs occurs, ensuring convenient access to funds.
The central element of this project is ELDG. In the ongoing pre-sale, the token changes hands at $0.023.
Token holders enjoy a variety of perks, including discounts, rewards, and VIP membership benefits.
The first investors have increased their investment by 130%. Analysts are optimistic and expect ELDG to reach $0.038 before the pre-sale concludes.
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