Amidst stories about Solana’s Wallet activity going up, we look if this actually translates to price action for SOL. We also take a look at new project Everlodge and their novel idea and see if they have the potential for growth.
Join the Everlodge presale and win a luxury holiday to the Maldives
Are Solana’s users really going up?
Various news outlets, from Binance Feed, CoinTelegraph and CoinMarketCap have pointed to data that showed an increase in users on Solana. Binance Feed in particular collaborated with respected blockchain statisticians, Messari. Still, a look at the Block’s Solana page shows that although new addresses are coming to Solana, the overall active numbers of people are down by almost 50% from the peak in January.
Much of this can be probably attributed to the fall out from the FTX scandal, and then the SEC securities claim, and the overall macroeconomic conditions.
From our perspective, the most important thing to watch with Solana is their payment system Solana Pay. As anyone who uses web3 and crypto will know, there is no mass adopted payment app to make using crypto easy. Solana Pay have just taken a big leap forward by partnering with Shopify, allowing merchants to receive payment in USDC. Card payment processors and PayPal take anywhere up to 3%+ of the revenue of the sales whereas Solana is basically fee free.
Since Shopify comprises 10% of total U.S. online shopping and over $440 billion of global economic transactions, this is big news. It gets even better when we learn that they have partnered with payment processor Checkout.com. Shop owners will also be able to use the power of NFTs and offer NFT loyalty programs and other exclusive web3 creations.
Another bullish development for Solana is that Maple finance, a borrowing and lending defi protocol on Ethereum, is coming back to Solana. Maple Finance has diversified into investing in Real World Assets, something which many financial analysts and players are very bullish about.
Is Everlodge’s business model the next big thing?
Everlodge is a very different type of project to Solana, that is more easily comparable to Maple Finance. While Maple finance allows you to invest in tokenized versions of various things including US treasury bonds and RWA, investing is on application only, users must apply and be KYC’d and vetted.
Everlodge wants to democratize access to investing in RWA, and also in the global vacation property market. Everlodge are building relations with luxury property chains and developers around the world, in order to tokenize them and offer fractions for sale in the form of an NFT.
They are building an app where people will be able to browse the marketplace for luxury properties to invest in, starting at $100. This means that ordinary investors will be able to fulfill a dream of having a diversified property portfolio, no matter how small their capital is.
Their token, ELDG, will be used in various ways in the ecosystem, and holders will receive free stays in vacation properties, and can choose to stake the currency for interest. ELDG has just come out of the beta phase of its presale, rising by 20%, and is currently on sale at $0.012.
Since the presale is ongoing, the only way for ELDG is up right now, and crypto forecasters are talking about a 30x from launch day.
Everlodge, like Solana, is part of a very lucrative and much anticipated sphere of developments in the world of crypto and web3, it’s going to be interesting to see how they continue to grow.
Find out more about the Everlodge Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
