Crypto projects with distinctness are always considered the best investment option, as they do not face any competition and can grow without friction. Therefore, the presale of Collateral Network (COLT) has brought massive cheer to the market.
The project has a first-mover advantage, and is expected to book a 100x profit by the end of 2023. Meanwhile, Polkadot (DOT) and Ripple (XRP) investors are worried about their investment, as both projects are on a see-saw.
After a long spell of sluggishness, Polkadot has recently witnessed an increase in development activity, and a surge in the number of stakers. Subsequently, the market value of Polkadot has also moved northward. Although negligible, the price of Polkadot (DOT) has increased by around 1% in the past week.
At present, Polkadot is trading at $5.33. Experts believe that Binance’s support of Polkadot’s USDT has led to a price increment for DOT. According to Token Terminal, the volume of USDT on Statemint, a parachain of Polkadot, surged by 125% in a single day after Binance’s move.
However, Polkadot’s performance on social metrics has been worrisome, indicating a possible bearish outlook in the future. As per the latest data, social mentions related to Polkadot have declined by 40% in the last month.
The legal case between Ripple and the US SEC has kept XRP in the headlines, and as the verdict in the lawsuit is nearing, hype and speculations around the project are intensifying. However, experts say that the lawsuit will not only impact the Ripple community but also have ramifications for the entire crypto world.
They say that if Ripple wins the case, it will boost the confidence of investors in cryptocurrencies. But, if Ripple loses the lawsuit, the SEC might come heavy-handedly on other cryptocurrencies as well.
Meanwhile, Ripple (XRP) has registered an increase in its network activity, thereby increasing its price. Ripple recorded 490,000 Daily Active Addresses on May 26, its second-highest ever. Ripple is currently changing hands at $0.51, following an 11% price increment in the last week.
Collateral Network is a one-of-a-kind blockchain platform that simplifies crowdlending through Web3. Now obtaining a loan against physical assets is no more a tiresome task. On Collateral Network, people can borrow money against their physical assets within 24 hours. Collateral Network does not compel borrowers to submit any paperwork, or share their credit history.
Instead, borrowers just send their physical assets to the company. Collateral Network’s internal team carries out the verification, and value assessment of the collateralized assets using artificial intelligence. Next, NFTs are minted against the assets. The assets are kept in a secure vault, and NFTs are fractionalized and sold in a decentralized marketplace.
All NFTs minted by Collateral Network are backed by physical assets; hence, their value remains immune to any sudden market downfall. Besides, lenders set the interest rate for loans, and receive a fixed weekly income. Owning Collateral Network tokens will also fetch you loans at a lower interest rate, or you can lend at limited transaction fees.
Just 38% of the total Collateral Network tokens (1.4 billion) will be unlocked during the presale. Currently, a presale COLT token is valued at $0.0.14. But their market price is projected to rise by 3500% before the end of the presale.
Find out more about the Collateral Network presale here: