Solana is on the rise again with its NFT marketplace once again exceeding Ethereum. Sei was released on its mainnet beta on August 13 2023 and has since risen sharply, with gains of over 116% in the last month. Everlodge is up by 170% since it began the presale in August.
Could Solana hit $100 soon?
While Solana maxis are predicting a ‘flippening’ with Ethereum, this seems unlikely due to the amount of projects and layer 2s built on Ethereum. Nevertheless, it has grown massively this year, due to the fact that it got so low after its links with FTX.
The price of Solana’s SOL token surged yesterday by over 8% to $69, and by 27% over the past week as the price climbed past key resistance levels, reaching its highest level since May 2022.
This price increase comes after three weeks of decline, following Solana’s peak in mid-November. Crypto investor Arthur Hayes, who founded the BitMex exchange, suggested in a post on the X that Solana could hit $100 over the weekend. As of Saturday, Solana currently sitting at $75.
Solana’s total value locked (TVL) hit its 2023 high of $926 million according to data from DeFiLlama. This signals growing engagement on Solana in the crypto market.
Additional on-chain metrics paint a bullish picture for Solana. Daily active users on Solana’s blockchain recently hit a six-month high of over 287k users on December 9th, based on figures from Token Terminal.
SEI is benefiting from the Layer 1 enthusiasm
When you want to find a good project to invest in, one rule of thumb is to follow the money. SEI is another Layer 1 blockchain but founded by ex-Goldman banker Jeff Feng and Jay Jog, a former Robinhood software engineer.
Jog noticed inefficiencies in Robinhood’s system, and so together with Feng, they’ve aimed to create a Layer 1 that can power decentralized trading platforms that use order books, like CEXes, but have speed and safety.
The goal of Sei is to solve the “trading trilemma” – achieving decentralization, scalability, and capital efficiency for trading applications. That said, Sei is highly centralized with around 50 validators.
Essentially, Sei is positioning itself as a “decentralized Nasdaq” which allows assets to be traded rapidly across DeFi, NFTs, and blockchain gaming. It wants to be the go-to layer-1 for building trading applications.
One of the trends that Sei is keen to prepare for is Real World Assets (RWAs). SEI divides them into tangible assets such as real estate, art, and luxury items, and intangible assets such as bonds, stocks and other financial derivatives, carbon credits, and stablecoins.
In recent news, SEI has been integrated into the Binance Web3 wallet, along with Bitcoin Cash, Dogecoin and Litecoin.
Everlodge is set to rise 40% in the presale, and then some
Like Sei, Everlodge is also taking advantage of the RWA asset trend, focusing on the tangible side – real estate. While many investors may dream of being able to rent out properties around the world to vacationers, this has mainly been the preserve of the ultra-rich.
Everlodge, who see themselves as the Airbnb of Web3, are democratizing access through tokenization. Not only does this mean that everything is done on the blockchain, but, importantly, real estate purchases can be made into NFTs and then fractionalised. This means that investors no longer need the capital for an entire mortgage or property, but instead can co-own properties with other investors.
Everlodge is building a marketplace where properties around the world can be traded and purchased, making the illiquid, liquid. Holders will receive rental income, and also benefit if the price of the properties rises, as their NFTs will then be worth more.
The ELDG token is currently in stage 7 of presale at $0.027. It will launch on both centralized and decentralized exchanges for $0.038, and market experts are then forecasting a rise of 30x or more.
For more information about the ongoing Everlodge (ELDG) Presale, please visit their website.