Wednesday, 28 February 2024

Crypto News

IOTA targets $0.3 after bullish DLT news as investors diversify with Everlodge (ELDG)

IOTA targets $0.3 after bullish DLT news as investors diversify with Everlodge (ELDG)

  • IOTA broke above a key level after news of the $100 million DLT foundation.
  • Everlodge presale price has risen to $0.025 and is projected to hit $0.035 by the time it launches.
  • By the time ELDG launches on major exchanges, its value could be 280% higher than the initial price of $0.01

The price of IOTA (IOTA) soared to above $0.28, its highest level since early October 2022. Meanwhile, positive sentiment across the crypto market has seeped into Everlodge (ELDG). With bullish momentum likely to push IOTA and other crypto prices higher, is this the time to diversify portfolios?

Here’s a look at IOTA’s potential price performance as well as why fractional investments on the blockchain are one of the hottest trends today – with Everlodge positioned to be the main player in the fast-rising property investment sector.

IOTA’s key DLT Foundation launch

IOTA (IOTA) is a distributed ledger, whose native coin is used as a unit of transaction. While it runs a peer-to-peer network, it’s not a blockchain. Its distributed ledger is called Tangle, and utilizes the Directed Acyclic Graph (DAG) technology.

Although the network has lagged since its early break into the ecosystem, recent bullish developments are putting analysts on the watch and investors interested. 

This includes the unveiling of ShimmerEVM, the Ethereum-compatible blockchain that supports smart contracts and allows for dApps not possible on IOTA to be deployed on the mainnet.

The latest bullish news came on November 29, when the IOTA Foundation announced it had secured registration for an ecosystem foundation. The IOTA Ecosystem DLT Foundation is the first of such in Abu Dhabi and will support growth and adoption of IOTA in the Middle East and North Africa (MENA).

This venture is to be powered by a $100 million funding paid for in the native tokens. Can this news help the price?

IOTA price prediction – can bulls retest $0.30

IOTA has pared some of the gains seen on Wednesday, trading to around $0.23. However, the native token of the permissionless distributed ledger technology platform remains above the key technical level of $0.20 after printing vertical gains of over 50%.

IOTA price on the weekly chart

With the foundation set to use IOTA tokens in its operations and quest to grow the DLT ecosystem, the likely scenario has the digital asset coming under increased buying…

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