IOTA broke above a key level after news of the $100 million DLT foundation. Everlodge presale price has risen to $0.025 and is projected to hit $0.035 by the time it launches. By the time ELDG launches on major exchanges, its value could be 280% higher than the initial price of $0.01

The price of IOTA (IOTA) soared to above $0.28, its highest level since early October 2022. Meanwhile, positive sentiment across the crypto market has seeped into Everlodge (ELDG). With bullish momentum likely to push IOTA and other crypto prices higher, is this the time to diversify portfolios?

Here’s a look at IOTA’s potential price performance as well as why fractional investments on the blockchain are one of the hottest trends today – with Everlodge positioned to be the main player in the fast-rising property investment sector.

IOTA (IOTA) is a distributed ledger, whose native coin is used as a unit of transaction. While it runs a peer-to-peer network, it’s not a blockchain. Its distributed ledger is called Tangle, and utilizes the Directed Acyclic Graph (DAG) technology.

Although the network has lagged since its early break into the ecosystem, recent bullish developments are putting analysts on the watch and investors interested. 

This includes the unveiling of ShimmerEVM, the Ethereum-compatible blockchain that supports smart contracts and allows for dApps not possible on IOTA to be deployed on the mainnet.

The latest bullish news came on November 29, when the IOTA Foundation announced it had secured registration for an ecosystem foundation. The IOTA Ecosystem DLT Foundation is the first of such in Abu Dhabi and will support growth and adoption of IOTA in the Middle East and North Africa (MENA).

This venture is to be powered by a $100 million funding paid for in the native tokens. Can this news help the price?

IOTA has pared some of the gains seen on Wednesday, trading to around $0.23. However, the native token of the permissionless distributed ledger technology platform remains above the key technical level of $0.20 after printing vertical gains of over 50%.

With the foundation set to use IOTA tokens in its operations and quest to grow the DLT ecosystem, the likely scenario has the digital asset coming under increased buying pressure.

If bulls hold above $0.20, a rebound to intraday highs could set this token perfectly for a retest of $0.30. Above this, the first major resistance area could be at $0.36, a rejection point in June and August 2022.

But despite this outlook, IOTA is still in a long-term downtrend. The coin’s value has not hit a bullish trend since nosediving from highs of $2.00 in August 2021. The all-time high was $5.25, reached in December 2017.

The world of investment is growing fast, and nowhere more so than in the realm of blockchain technology. Everlodge seeks to bring this reality to crypto investors with the first property marketplace for fractional ownership of homes, hotels and luxury villas.

Leveraging blockchain, timeshare and non-fungible token (NFT) technology, this platform brings “AirBnb”-style investment onto Web3.

For instance, a luxury villa in an upmarket location can be digitized, with titles and deeds secured on the blockchain via smart contracts. Then an NFT of the property is minted and fractionalized to allow small purchases for investors. These will be possible via the ELDG token.

When this project launches, it will include a marketplace, Launchpad, and lending platform.

Everlodge’s innovative project could be a massive opportunity with the global real estate market estimated at over $280 trillion and the hospitality industry alone at more than $4.5 trillion (as of 2022).

ELDG is an Ethereum-based token that will be the payment currency of the Everlodge ecosystem. It will have a total fixed supply of 800 million tokens. Holders will enjoy bonuses, discounts on trading fees and staking rewards. The project also promises to offer a complete package in terms of what an investor can enjoy, and the presale shows.

There will be a total of 480 million tokens on offer in the presale, with the fundraising target at $12 million.

Having launched with the initial price of $0.01, the value of the token has increased 150% to $0.025. This price is projected to reach $0.035, potentially offering 280% in returns to early birds. These are however only paper gains as investors will only claim their tokens when the project officially launches.

Learn more about Everlodge (ELDG) here.

The post IOTA targets $0.30 after bullish DLT news as investors diversify with Everlodge (ELDG) appeared first on CoinJournal.

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