Binance, one of the top exchanges in the crypto space is losing its market share due to recent data. Meanwhile, Ripple's latest transfer has stirred curiosity among investors. Meanwhile, analysts are bullish on a new crypto project called Everlodge.
Binance Suffers Drop in Market Share
Binance exchange, the biggest crypto exchange globally, has lost a lot of its market share in the past year, as stated in a report by 0xScope on Monday. The report suggests that Binance's dominance has been declining since it faced manipulation allegations from the SEC and CFTC. In late 2023, Binance's share of the spot trading market dropped from 62% to 40%.
This decrease might be due to their listing strategy which affected the value of several popular coins. Additionally, the report pointed out that Binance's presence on social media has been shrinking. Over the past year, the number of Binance's Twitter followers decreased by 5%. On the other hand, OKX's followers increased by over 200%.
Meanwhile, Binance's native token, BNB crypto , has seen huge gains lately, thanks to Bitcoin's ETF saga. According to CoinMarketCap, the price of Binance crypto has skyrocketed 11.0% in the first week of November. Currently, the Binance coin price is valued at $251.02 and could rise more in 2024 after Bitcoin's halving.
Ripple (XRP) Transaction Scares Investors
Ripple recently moved 60 million XRP tokens to an undisclosed wallet, according to Whale Alert . The transfer caused panic among investors who wondered the reason for the move. The XRP community is excited about Ripple's "swell" event that began on November 6th.
This event is known for hosting important discussions and providing insights into the financial technology sector. Ripple price has been on a strong upward trend recently. This trend has attracted both investors and analysts.
On the other hand, Crypto analyst, Dark Defender, noted that Ripple coin is on a bullish trajectory. According to him, Ripple cryptocurrency's push above the $0.66 region was a bullish move. CoinMarketCap data shows that the price of Ripple crypto traded at $0.68.
Everlodge (ELDG): Analysts Forecast 30x Price Surge
Everlodge (ELDG) is set to bring big changes to the real estate sector using blockchain technology. Specifically, the platform's approach has brought out a new concept of co-ownership using NFT fractionalization. This approach would introduce transparency, fractional ownership, and improved liquidity to real estate investments.
In addition, Everlodge's move is aimed at tackling issues like high entry barriers. By so doing, anyone would be able to invest in the real estate market. Everlodge's upcoming marketplace would enable more people to invest in properties like villas and hotels as NFTs.
Everlodge noted that it would split these assets into smaller parts. This would make it possible for people to own a share of a property for just $100. Furthermore, transparency has been a big problem in real estate for a long time. But Everlodge plans to fix this.
According to experts, the global vacation rental market was worth $82.63 billion in 2022. This suggests that Everlodge has a good chance of growing in the long run. Currently, one ELDG token is valued at $0.025 in the 7th stage of Everlodge's token presale. Some analysts even predicted that its value could increase by 30x in the coming months.