With an increasing number of projects and platforms built on Ethereum’s blockchain, it is no surprise that many are looking toward Ethereum’s (ETH) potential price in 2023. However investors should not overlook the potential of projects like Polygon (MATIC) and Collateral Network (COLT).
With Collateral Network selling astronomical 100 millions tokens plus within a few weeks of launching its presale, the prospects are especially intriguing for this unique disrupter in the lending space.
What Will Ethereum Be Worth In 2023?
Ethereum (ETH) has revolutionized the blockchain industry, allowing developers to create and deploy decentralized applications (dApps) on its blockchain. As the original blockchain platform for dApps, Ethereum (ETH) has had a massive impact on the industry and its price. As such, many investors are keeping a keen eye on Ethereum (ETH)’s price performance in 2023.
Ethereum (ETH) started off the year at a price of $1,193, which represents a 75% drop from the all-time high of $4,891. At the time of writing, Ethereum (ETH) is trading at $1,815 after a major resurgence in 2023 that saw its price surge over 76% to a high of $2,100.
Experts believe that an Ethereum (ETH) price of $3,000 is achievable by the end of 2023, with a move higher to at least $5,000 after the Bitcoin (BTC) halving in 2024. Ethereum (ETH) remains the go-to platform for dApps and decentralized finance (DeFi), so as the use cases for Ethereum (ETH) continue to grow, so too will its price.
Does Polygon MATIC have a future?
Polygon (MATIC), formerly known as Matic Network, is a blockchain scaling solution that allows developers to build fast and scalable dApps on Ethereum (ETH).
With a host of different scaling solutions, Polygon (MATIC) has quickly become the go-to layer 2 platform for developers. In fact, more than $1 billion is locked in Polygon (MATIC) dApps, with the Polygon (MATIC) daily transaction volume surpassing $440 million.
Polygon’s (MATIC) price has exploded from 2021 to 2023. At the time of writing, Polygon (MATIC) is trading at $0.96 after climbing more than 5,300% from its 2021 low of $0.0175. Analysts believe that Polygon (MATIC) still has some room to run in 2023, with a price target of up to $2.00 by the end of the year.
Market analysts note that Polygon’s (MATIC) ability to attract new partnerships is a key factor in its potential price growth. A range of projects have already announced partnerships with Polygon (MATIC), including ImmutableX (IMX) and GameStop (GME).
Collateral Network is transcending the crypto space
Collateral Network is the world’s first and only peer-to-peer lending platform on the blockchain that enables individuals regardless of geographical location to borrow crypto against their real-world physical assets leveraging NFT and blockchain technology.
The process is simple: John owns a Ferrari worth $200,000 and requires a $100,000 loan to complete a development project. In the traditional lending sector the options available to John would be limited and the process time consuming.
With Collateral Network these barriers are no longer present. John would make the car available to the Collateral Network team where all the relevant checks are performed. Once complete an NFT is minted that represents the Ferrari on a 1:1 ratio (asset backed NFT), and broken down into smaller fractions (fractionalization). By breaking the NFT down, multiple lenders on the platform can help fund the loan in parts and still receive an agreed rate of interest. Suddenly the pool of lenders available to John is global (institutional level liquidity).
John completes his development and repays the loan along with the interest
Smart contracts to handle the transactions without the need for a middleman, helping to reduce fees and speed up the process. The NFT metadata holds a transparent record of the loan terms and repayment history, making it easier to verify authenticity and maintain trust.
All of this points to a platform and unique lending protocol that transcends the $trillion crypto market and is set to transform the $800+ billion peer-to-peer lending market.
With COLT tokens available for just $0.014 during the presale, buyers could potentially see returns of up to 35X over the next few months. Supply of the tokens is limited and the demand is increasing exponentially so current prices are unlikely to available for long.
Find out more about the Collateral Network presale here:
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