U.S. SEC reviewing BlackRock Bitcoin ETF application; Polkadot, Cosmos, and new coin may soar on approval
BlackRock, a top investment firm, is closer to getting a regulatory nod from the U.S. Securities and Exchange Commission (SEC) for its spot Bitcoin ETF application. Its product was temporarily listed at the Depository Trust & Clearing Corporation (DTCC). While the approval is pending, analysts expect Polkadot, Cosmos, and Everlodge to benefit.
Everlodge can benefit from the Bitcoin ETF launch
Global tourism has seen growth since the end of the COVID-19 lock-down.
Recent research indicates there are over 17.5 million guest rooms worldwide. However, it has largely been overlooked by those with middle or lower incomes. This is because real estate investments demand a significant upfront capital.
Everlodge aims to simplify property investment by leveraging blockchain technology to transform real estate into non-fungible tokens (NFTs), which can be divided into smaller portions.
Importantly, these NFTs can be acquired for as little as $100 by anyone and traded or used as collateral for loans on Everlodge.
Meanwhile, five stages of its presale have already been completed. The token, ELDG, surged by more than 100% from $0.01 to $0.23.
Analysts remain bullish, expecting the coin to maintain its uptrend.
Polkadot upgrades staking dashboard
Polkadot has released its Staking Dashboard 1.1, following hints from Ross Bulat, an engineer at Parity Technologies.
The new dashboard is more user-friendly and allows stakers to track ongoing activities on the network.
In the last week of October, Polkadot’s coin, DOT, was among the top gainers in the crypto market’s top 20 rankings by market capitalization.
Market experts expect DOT to reach $6.7 if a spot Bitcoin ETF is authorized.
Cosmos’ active users increased by 182%
To increase user activity and adoption, Cosmos has been working hard, with some positive results.
According to Token Terminal data, the number of daily active users (DAU) on Cosmos is up by 182% in the last 30 days, a notable increment.
Nomic, a Bitcoin sidechain development company, recently launched its Inter-Blockchain Communication (IBC)-supported nBTC. The goal is to ease how users send their Bitcoin (BTC) to the Cosmos blockchain using their native Bitcoin addresses.
With this deployment, ATOM–Cosmos’ native coin, rose by 8.3%, with trading volume spiking by 120% on increasing network activity.
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