Cardano TVL Surpasses Bitcoin
In Q3 2023, the Cardano ecosystem saw rapid growth due to increased developer activity and positive market sentiment. As a result, Cardano’s Total Value Locked (TVL) surged to $240 million, making it the 11th most active blockchain and reaching an all-time high. The growth was driven by system upgrades and the introduction of stablecoins, leading Cardano to surpass Bitcoin in the decentralized finance (defi) TVL rankings. Despite a 1.7% drop in ADA prices on Nov. 7, the coin remains bullish on the weekly and monthly timeframes, with a 16.5% and 35.0% increase, respectively.
Tether Boosts USDT Reserves on Tron
Tether injected an additional 1 billion USDT into Tron, pushing the total USDT reserves on the network to over $45 billion. This development positions Tron as having the highest USDT allocation with a year-to-date growth rate of 21%. Despite TRX prices falling in November after rallying in October, analysts expect a rally once the first Bitcoin Exchange-Traded Fund (ETF) is approved in the United States.
Everlodge Gains Traction Among Investors
Everlodge has gained widespread popularity in 2023 for its platform aiming to streamline real estate investment through blockchain technology. The platform reshapes property ownership by allowing individuals to invest with as low as $100. Properties like hotels, villas, and homes are transformed into non-fungible tokens (NFTs), which are further divided into smaller shares for accessible purchase. Everlodge offers swift sale or trade of property-backed NFTs through its marketplace and has an ongoing presale of ELDG tokens at $0.023.
Hot Take: Promising Developments in Cardano, Tether, and Everlodge
Cardano’s surge in TVL is a significant milestone that cements its position as a major player in the defi space. Tether’s increased USDT reserves on Tron position it as a leading network for stablecoin transactions. Everlodge’s innovative approach to real estate investment has captured significant attention and is poised for future growth.
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