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The cryptocurrency market has been in consolidation over the last two months. However, Litecoin has been flashing bullish signals that could lead to an uptrend. Meanwhile, Chainlink and Everlodge have been making progress with staking on their various chains.
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What Next for Litecoin (LTC) As Bulls Grow Stronger
Litecoin performed its third halving in August. Since then, there has been an increase in the activity on the Litecoin network. However, this increasing activity has failed to inspire an increase in the price of the LTC coin.
The price of Litecoin has dropped from $93.5 to $67.4 in October. However, there are signs that the uptrend is around the corner. On the LTC daily chart, the 50-day EMA has been acting as a dynamic resistance. In addition, LTC appears to be forming a death cross on the daily chart.
If this bearish pattern plays out, then the Litecoin price could drop to the $50 zone. While this is possible, an increase in the bullish sentiment of the broader crypto market could prevent the Litecoin price from declining.
Chainlink Makes Progress in LINK Staking
Unlike Litecoin, the Chainlink coin, LINK, has been bullish. Over the last 60 days, the price of LINK has increased by more than 20%. To further improve the sentiment of Chainlink, the team behind the project has unveiled v2 of its staking.
Expected to launch later in Q4, the Chainlink v 0.2 upgrade includes a platform with a pool size of 45 million LINK for staking. This is significantly higher than v1 which has a total of 25 million LINK. V2 also includes an unbonding mechanism for withdrawing staked LINK.
The new unbonding mechanism brings more flexibility to stakers on the Chainlink network. According to the announcement, Staking v0.2 would be launched via a three-phase sequence. Crypto analysts predict that this launch will cause an increase in the price of Chainlink.
Everlodge (ELDG) To Transform the Real Estate Industry
Everlodge is building a platform that looks to capitalize on the increasing demand in the vacation rental industry. The platform will use blockchain technology to tokenize real estate properties. These properties will be represented as fractional NFTs. This co-ownership model will allow investors to own a piece of these luxury properties for fractions as little as $100.
The value of these NFTs will move in tandem with the property on-site, increasing as its market value increases. In addition, holders of the NFTs can sell them or collect loans using them as collateral. The Everlodge team will collaborate with established hotel chains and luxury property developers to acquire these properties.
Property developers can also use the platform’s Launchpad to raise funds for their upcoming real estate projects. The project has been projected to enjoy mainstream adoption because of its uniqueness. Additionally, it has a lower market capitalization, which means it can experience price increases more quickly.
The ecosystem is powered by its utility token, ELDG. Holders of ELDG tokens can stake the token and make governance decisions, including choosing developers on the Launchpad. They will also qualify for holiday giveaways, free stays at Everlodge properties, and raffles. Currently trades at $0.023 per token with predictions of reaching $0.50 before the year ends.
