The cryptocurrency market has been a whirlwind of market trends lately. One of the major talking points is the surge of liquidity on Bitcoin Cash to outpace Bitcoin and Ethereum. In other news, Cardano is experiencing a bearish trend while the price of Everlodge has jumped to $0.020.
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Bitcoin Cash Experiences Biggest Liquidity Jump
Liquidity is often seen as a very important metric in the crypto market. It explains the ability of the market to receive large buy and sell orders while maintaining stable prices. Although the price of Bitcoin Cash fell 23% in the third quarter, it recorded a surge in liquidity.
According to data provider Kaiko, Bitcoin Cash recorded the most improvement in market liquidity in the third quarter. The liquidity of Bitcoin Cash was higher than Bitcoin, Ethereum, XRP, and Dogecoin which remained relatively unchanged.
The increasing liquidity means BCH is becoming easier to trade. However, the price of Bitcoin Cash has not been on a decline like the rest of the crypto market. In October, the Bitcoin Cash price has dropped from $254 to $210.
Cardano (ADA) Face Significant Price Drop
Since April when the price of Cardano (ADA) peaked at $0.46, it has been steadily declining. As a result, the ADA price has dropped to a low of $0.2482 in October. Crypto analysts have predicted that the drop for the Cardano coin could continue in the coming days.
If the bearish sentiment surrounding Cardano continues then the ADA price could drop to the $0.2400 support. This has raised concerns that the altcoin price could drop to a multi-month low of $0.2000. However, analysts have highlighted a historic pattern on the daily chart that could see ADA increase by 15% to $0.280.
Despite the slow market, the Cardano network remains the most actively developed blockchain. According to recent data from Santiment, Cardano recorded 611.47 notable GitHub commits, better than other networks. Analysts have predicted that this increasing network activity could make ADA bullish in the long term.
Everlodge Outperforms Cardano and Bitcoin Cash
While most altcoins have been struggling with bearish momentum, Everlodge (ELDG) has been bullish. This is marked by its recent price jump to $0.020 per token. Since the presale kickstarted two months ago, the price of ELDG has increased by 100%, earning investors substantial returns. So, how has Everlodge managed to remain bullish in a bearish market?
Everlodge has been gaining traction because it introduces a new concept for co-ownership in the timeshares industry. The project is building the world’s first blockchain marketplace for timeshare property. Working with reputable hotel chains and real estate developers, Everlodge will pick the properties listed on the platform.
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The team will then mint an NFT to represent each property in the marketplace. These property-backed NFTs will be fractional, allowing investors to buy from as low as $100. In addition, they will mirror the real market value of the property.
Everlodge aims to onboard thousands into the timeshares industry using its unique co-ownership model. As a result, crypto experts have strong bullish forecasts for its ELDG token. Now trading at $0.020, Everlodge has been forecasted to reach highs of $0.5 when the marketplace launches.
Find out more about the Everlodge (ELDG) Presale:
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
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