The crypto market is known for its high volatility and frequent price changes. As a result, leading crypto exchanges, KuCoin (KCS) and PancakeSwap (CAKE) have struggled over the last month. While KuCoin and PancakeSwap struggle to shake off bearish pressure, Everlodge (ELDG) has been growing in popularity due to its bullish price action.
KuCoin Dumps After Layoff Reports
The utility token of the popular global exchange, KuCoin (KCS) has been under immense bearish pressure over the last month. As a result, KCS has been bleeding on the monthly chart. In the last 30 days, the price of KuCoin has dropped by 18.5%.
At the time of this writing, KuCoin trades at $5.61 despite trading as high as $6.81 in July. The price drop of KuCoin follows after it was reported that the exchange slashed 30% of its workforce.
Although the exchange denied mass layoffs, saying the job cut was part of normal operation, the price of KCS fell regardless. Today, KuCoin has suspended Bitcoin and Litecoin mining pools, further adding bearish pressure to the token.
PancakeSwap Drops Despite On-Chain Growth
PancakeSwap (CAKE) , one of the leading decentralized exchanges, has been under bearish pressure over the last month. In the last month, the price of CAKE has tumbled by more than 8%. Over the last 24 hours, the price of CAKE has dropped by 1.7% and now trades at $1.52.
Regardless of the price drop, the DEX has reached some major milestones. Recently, the trading volume on PancakeSwap v3 surpassed $12 billion across all chains, making it one of the most used DEX platforms.
In addition, the recent launch of PancakeSwap v3 on zkSync Era has reached remarkable heights. The trading volume crossed $10 million just days just after the launch. With the launch of a new PancakeSwap sharing pool, bulls would expect an increase in price. Now trading at $1.52, bulls would need to maintain the $1.5 support for this to happen.
Investors Migrate to Everlodge (ELDG) to Recoup Losses
As the price of the KuCoin and PancakeSwap struggle, investors are migrating to Everlodge to recoup their losses. Investors are favoring Everlodge because the project has been projected to rally by more than 280% over the next few weeks.
The predictions for Everlodge are bullish as it is the project seeks to transform the timeshares industry. Using unique fractional NFTs, Everlodge will allow investors with as little as $100 to invest in hotels, vacation homes, and luxury villas.
As the prices of these properties increase, the value of the NFTs will increase alongside. Holders of these property-backed NFTs will be able to use them as collaterals to collect loans. In addition, the Everlodge ecosystem will comprise a marketplace, a launchpad, and a rewards club.
As a revolutionary project and the first of its kind, the projections for Everlodge are very bullish. The price of the ELDG token has been projected to hit $0.035 before the end of 2023. In addition, token holders will also enjoy several perks, including passive income, exclusive discounts, and rewards.
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