The adoption of utility tokens is increasing in the crypto space with Chainlink (LINK) and Decentraland (MANA) among the top utility tokens. However, there have been challenges, causing a decline in investor interest. However, amidst this decline, Everlodge (ELDG) emerges as the best choice, capturing the attention and interest of veteran investors.
Decentraland (MANA) Bearish After SEC Lawsuit
Decentraland (MANA) is a metaverse world that allows players to exchange lands and hold events in virtual space. Unfortunately, the hype surrounding it has been on a decline since late 2022 due to the crypto market implosion.
Meanwhile, as 2023 began, Decentraland was filled with great hopes, and its prices rose to new heights, indicating a bright future. However, this rally was short-lived as Decentraland started declining in late February.
Also, in June, the US SEC tagged Decentraland security, causing eToro and Robinhood to delist the token. Currently, Decentraland is trading at $0.374315, a 2.57% price decline in the past 7 days.
Chainlink (LINK) in Accumulation Phase
Chainlink (LINK), the decentralized oracle network, has been operating within a markedly prolonged accumulation zone. Historically, a price rally usually occurs after an extended phase of consolidation.
This indicates that Chainlink could be gearing up for a price breakout. As of today, the price of Chainlink (LINK) stands at $7.44. Over the last 24 hours, it has experienced a 0.48% price decline, and 0.98% in the past week.
Currently, the RSI value is at 58.98, indicating that the LINK market is in a neutral position. Meanwhile, Chainlink faces resistance levels at $7.68, $7.77, and $7.93. Still, it has strong support at $7.44, $7.27, and $7.19.
Everlodge (ELDG), the Gateway to the Real Estate Market
While Decentraland and Chainlink are showing a bearish trend, veteran investors are stacking Everlodge (ELDG) tokens. Unlike several cryptocurrencies without utility, the Everlodge token, ELDG, has several benefits for its holders. Everlodge token holders can stake the token to receive rewards and get discounts.
Everlodge, with its innovative hybrid co-ownership approach, is set to transform the real estate investment landscape. The platform will be introducing a feature called NFT fractionalization into the real estate space. This will allow investors to buy and own fractional shares in high-value properties like hotels, vacation homes, and luxury villas.
The hospitality industry is growing and is worth over $4.548 trillion. Everlodge is hoping to capitalize on this growth to make its investors millionaires in the coming years. As property values surge, the NFTs’ worth will follow suit. Additionally, users can enjoy various platform perks, such as staking, rewards, and discounts.
It will lock its liquidity pool for 8 years and team tokens for 2 years. The platform is currently in its presale stage, offering each ELDG at just $0.01. Given its strong features and advantages, analysts predict a substantial increase in Everlodge’s token adoption.
Find out more about the Everlodge (ELDG) Presale