The cryptocurrency market rallied on “Uptober” as bitcoin (btc) soared to $35,000. It was followed by altcoins such as Polkadot (DOT) and Cosmos (ATOM), which posted gains on the weekly chart. On the other hand, analysts are bullish on Everlodge (ELDG).
Polkadot rises 4.33%
Polkadot put around 99 million DOT into circulation on October 24.
Despite this, DOT remains relatively firm partly due to the rally in the “Uptober” altcoin market.
Overall, prices remained firm in October. As of October 30, DOT rose by 4.33% and 5.32% on the weekly and monthly charts respectively, reaching $4.32. However, DOT failed to cross the $5 mark despite the rally.
Despite Polkadot 2.0 plans, it remains to be seen how this will affect. SPOT prices. The currency has withstood several bearish cycles in the past.
The United States Securities and Exchange Commission (SEC) has not classified DOT as an unregistered security; this can support the currency in the long term.
dydX alpha mainnet launches on Cosmos
On October 26, dYdX version 4 launched its “alpha mainnet,” introducing its independent Cosmos-based blockchain.
With a cumulative trading volume of $1 trillion, this marks a significant shift for the decentralized derivatives platform and a positive development for the Cosmos network.
Although ATOM Prices fell to a 2023 low of $6.19 on October 19, having since recovered to $7.56 as of October 30. Still, analysts remain optimistic and project the coin to reach $8.34 by the end of 2023.
Everlodge pre-sale underway, early adopters make profits
Everlodge aims to create an affordable and user-friendly real estate market.
It is tied to the $280 trillion real estate market and has a low market capitalization.
Unlike popular platforms like Polkadot and Cosmos, analysts believe Everlodge is at the beginning of a bull run.
To improve security, Everlodge uses smart contracts to store property details. For salability and accessibility purposes, luxury properties are broken down into smaller, tradable non-fungible tokens (NFTs). This allows anyone, whether poor or rich, to invest in valuable properties with at least $100. Early adopters are already reaping benefits.
ELDG, the platform’s native token, is available for $0.023 in the ongoing pre-sale. However, its supporters expect the token to extend its gains in December, mainly driven by the project’s features.
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