Solana and XRP stagnant, traders exit to rising Everlodge
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Swing traders dislike stagnant markets, but 2024 has seen some movement. Everlodge (ELDG), in its presale, is rising while Solana (SOL) and XRP stagnate.
Solana fails to hold the $100 mark
Solana had a volatile year, recovering after crashing in 2022.
Despite concerns that the scandal and FTX estate would ruin the coin, Solana made an unexpected upward turn, increasing by 49% last month.
The past week has been turbulent for Solana, with $100 being a potential resistance point.
Although it reached $116 on Jan. 2, it fell to $96.90 and rebounded to $105 on Jan. 5.
XRP fails to hold support at $0.65
XRP and most cryptocurrencies are unstable.
It started strong at above $0.61 at the end of 2023 but quickly lost momentum after reaching a weekly high of $0.631 on Jan. 2.
The selling pressure intensified over the following days, resulting in a 15% drop in a single day to $0.538 on Jan. 3.
While the price has bounced back slightly, it remains below its former support level of $0.65 and currently trades around $0.576.
Swing traders are still determining what the future holds.
Together with SOL traders, they have been exploring Everlodge, whose ELDG token is up 190% in presale.
Everlodge is trending higher
Everlodge is a new blockchain project focused on fractionalized ownership of luxury vacation properties.
The project is currently in presale, with ELDG, its native token, rising through set stages at $0.029. At launch, experts predict a spike in price and attention.
The core idea is to purchase high-end hotels, villas, and resorts worldwide, then tokenize and fractionalize ownership on blockchain. This allows broader access to invest in sought-after real estate assets. Using NFTs, investors can buy a share of lavish properties for as little as $100.
As tourism and property values rise, so do potential gains for Everlodge token and NFT holders. The model aims to open up vacation property investment wealth, previously only accessible to institutions and the ultra-rich, to more individuals.
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