Cardano TVL outpaces Bitcoin’s, new token surging as Tether injects 1B USDT into Tron
According to recent news, Cardano’s total value locked (TVL) surged, surpassing Bitcoin’s. Also, 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 overtakes Bitcoin
In Q3 2023, the Cardano ecosystem experienced rapid expansion, attributed to heightened developer activity and a positive market sentiment.
Cardano’s Total Value Locked (TVL) surged to $240 million, securing its position as the 11th most active blockchain. This spike also saw the project’s TVL rise to an all-time high.Â
The catalysts behind this growth include system upgrades and the introduction of stablecoins.
As a result, Cardano surpassed Bitcoin in the decentralized finance (defi) TVL rankings.Â
Despite a 1.7% drop in ADA prices on Nov. 7, settling at $0.346388, the overall trend remains bullish on the weekly and monthly timeframes, where the coin is up 16.5% and 35.0%, respectively.
Tether increases USDT’s reserves on Tron
On Nov. 6, the Tron DAO revealed that Tether, the issuer of the USD, had injected an additional 1 billion USDT into Tron. Subsequently, this pushed the total USDT reserves on the network to over $45 billion.
This development positions Tron as the highest USDT allocation. Noteworthy is the remarkable growth in Tron’s USDT circulating supply throughout 2023, registering a year-to-date growth rate of 21%, according to Tronscan.Â
In contrast, TRX prices fell in November after rallying in October. As of Nov. 7, the coin was trading at $0.096452.
Despite this dip, analysts remain bullish on TRX, expecting the coin to rally once the first Bitcoin Exchange-Traded Fund (ETF) is approved in the United States.
Analysts expect TRX to reach $0.095 after Bitcoin halves in 2024.
Investors exploring Everlodge
In 2023, Everlodge garnered widespread popularity due to its platform that aims to streamline real estate investment via the blockchain.
Everlodge plans to reshape property ownership, subsequently capturing the attention of analysts and investors.
Unlike the traditional real estate market that demands substantial upfront investments, Everlodge aims to disrupt this approach by allowing individuals to start investments with as low as $100.
Properties, such as hotels, villas, and homes, are transformed into non-fungible tokens (NFTs), which are further fractionalized and divided into smaller shares for accessible purchase. As the property’s value appreciates, so do the NFTs associated.
In contrast to the protracted timelines of traditional real estate transactions, which can extend up to seven weeks, Everlodge offers a solution through its marketplace. Here, there is swift sale or trade of property-backed NFTs, ensuring convenient access to funds.
Central to this project is ELDG. In the ongoing presale, the token is changing hands at $0.023.
Token holders enjoy a range of perks, including discounts, rewards, and VIP membership benefits.
Early investors are up 130% on their investment. Analysts are bullish, expecting ELDG to reach $0.038 before the presale concludes.
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