Though there are hundreds of cryptocurrency projects, some influence the market more than others. Three cryptocurrencies driving the current bull run are Maker, Binance Coin (BNB) and Everlodge. Each project experienced significant gains in Q4, and they are now expected to continue their bull runs in 2024.
Maker (MKR) has experienced a significant surge in buy orders over the last week. In just seven days, three cryptocurrency wallets purchased $18.6 million worth of Maker. This accumulation triggered an 11.71% price increase, taking Maker's value to $1,834.
Each of the buyers has since withdrawn their Maker tokens from the Binance exchange and stored them in self-custody wallets. This move implies that the buyers are planning to hold their Maker tokens as a long-term investment, which has helped boost the confidence of current holders.
At the time of writing, Maker's price had increased by 23.53% in December and 1.88% over the last 24 hours despite many cryptocurrencies crashing.
While Maker and Binance Coin focus on DeFi innovation, Everlodge applies DeFi technology to the real-world holiday home market. It gives investors the opportunity to co-own holiday properties around the world, with investments starting at just $100.
Investors can use the Everlodge marketplace to build their portfolios, purchasing fractionalized NFTs that represent ownership in a property. By fractionalizing NFTs, multiple investors can own a single property and enjoy the benefits that come with home ownership. These include passive income and the benefits of appreciating assets.
Everlodge replaces many of the outdated systems surrounding the holiday home market. For example, instead of endless paperwork, all details, such as deeds, are kept in the smart contract of the NFT. Additionally, payments can be made instantaneously, thus streamlining the overall buying process.
Everlodge is currently in the ninth stage of its presale, and its native token, ELDG, is selling for $0.029. Token holders will earn a number of bonuses throughout the Everlodge ecosystem, including:
As a pioneer in its niche, experts predict that Everlodge will become a top DeFi project in 2024. Analysts estimate that Everlodge will increase by 280% during its presale, and surge at least 30x upon launch. Such returns have put Everlodge in extremely high demand.
Binance Coin surged 38% in December, hitting a 6-month high of $340. This increase triggered an influx in Binance Coin's daily trading volume, which quickly passed over $1 billion. However, after hitting a new resistance level, Binance Coin's price has decreased to $318.
According to crypto analysts Rekt Capital, Binance Coin could go up or down in January. Should Binance Coin pass its current resistance level of $340, predictions suggest that Binance Coin could pass $350. However, according to Rekt, Binance Coin could also fall back down to $283.
In what's now being called "No man's land", it's difficult for analysts to determine whether Binance Coins' consolidation will continue or its uptrend will resume. With this in mind, Maker and Everlodge could offer better short-term returns. Nonetheless, Binance Coin remains a strong long-term investment, offering stability and outstanding utility.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.