By Guest Writer •
Published: 22 Sep 2023 • 9:38
The once beloved Binance has faced problem after problem since the fall of FTX, and this has been affecting the price of BNB. Dogecoin continues to move sideways as the crab market progresses. Everlodge on the other hand goes from strength to strength as it brings Defi to the global real estate market.
The bad news for Binance and BNB never stops, or so it seems. Starting with the removal of BUSD when their stablecoin provider Paxos was targeted, everything has been going downhill for the centralized exchange.
Despite having a separate entity for Binance US users, due to regulations, it was leaked that CEO CZ (who has now been replaced by Binance.US) had admitted to co-mingling of funds. Other improprieties were also discovered and since then both UK and EU users are now facing the inability to withdraw fiat from the BNB backed exchange, as the payment providers refuse to work with them.
Amidst large outflows from the CEX, Binances BNB chain has also been experiencing a dramatic drop in TVL. Unsurprisingly, the BNB coin, used on chain and also for trading discounts on the CEX, has been dropping steadily in value from a high of $347 in April this year.
BNB is currently trading at $217 per coin. The results of the regulatory action form the SEC and CFTC will determine the future of Binance and BNB.
Unlike its rival memecoin Shiba Inu, there has been very little news or development on the Dogecoin front. Some say that the lack of development of Dogecoin is hurting the coin and its chances of rebounding.
Other critics point to the infinite supply of Dogecoin as another major factor in why the price is stagnant. That said, Dogecoin is up by 9% on the yearly, which is more than can be said for many other coins.
However Dogecoin is also not immune from the pressures of the United States, as in a surprise move yesterday, the New York Department of Financial Services (NYDFS) removed Dogecoin from it’s crypto ‘greenlist’.
Still, the market appears unbothered by the news and the price of DOGE is currently up 0.7% on the 24 hourly chart.
In this author’s view, Dogecoin will not see a meaningful resurgence until a bull run is underway.
While BNB and DOGE flounder, Everlodge (ELDG) is up 12.5% on the weekly and 80% since its inception last month.
This is in part due to the fact that Everlodge is currently in presale, and so the price is dynamically increasing until the coin launches for $0.038. At this point experts are predicting a rise anywhere from 15-35x, depending on market conditions.
But what do Everlodge actually do? Their mission is to empower ordinary investors, who may have small amounts of capital, to invest in the global property and vacation real estate market. These are two very lucrative sectors, worth $280 trillion and $80 billion respectively.
They will acquire vacation properties and then tokenise them on the blockchain, then fractionalise them. This means people can invest with as little as $100. And in so doing, enabling the retail investor to have a stake in multimillion dollar properties in various locations globally.
Find out more about the Everlodge (ELDG) Presale
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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