Many cryptocurrencies ended April 2023 on a downward trend. Popular tokens like Shiba Inu (SHIB) and ApeCoin (APE) have shown worrisome performance in the past two weeks. Gratefully, Collateral Network (COLT), a new decentralized lending protocol, has presented an opportunity for investors to make 35x gains during its presale.
What is price of Shiba Inu?
Shiba Inu is a popular meme coin fondly dubbed ‘Dogecoin killer.’ Shiba Inu has a large community of supporters, and its value rises with the hype and improvements in the Shiba Inu network.
The most prominent improvement is Shibarium, a Layer-2 scaling solution for the Shiba Inu network, which has already attracted over 500 projects while in its beta phase.
Recently, Blockbank, a protocol-agnostic, consumer-facing application for custodial and non-custodial digital asset management and fiat-based neo-banking services, added Shiba Inu to its EARN program, offering up to 5% APY for staked tokens.
Nevertheless, Shiba Inu (SHIB) has been on a downward trend, falling by 27% in the past 14 days. Shiba Inu (SHIB) is priced at $0.00000150 as of press time.
What is ApeCoin?
ApeCoin (APE) is a cryptocurrency created to support the development of a decentralized Web3. It was inspired by the Bored Ape Yacht Club (BAYC), one of the most famous and valuable NFT collections. Yuga Labs, creators of BAYC, launched an ecosystem with ApeCoin at its center, acting as a utility and a governance token for the DAO.
All the functions within the ecosystem are powered by ApeCoin, and this is what gives the token value. Recently, ApeCoin was announced as the new Ledger Quest partner. So, Web3 users can now enjoy the security provided by the ApeCoin Nano wallet.
Unfortunately, the price movement of ApeCoin has been discouraging. As of press time, ApeCoin (APE) is trading at $4.02, which is a 10% drop in the past 14 days.
Collateral Network (COLT) a pioneering Web3 lending platform
Collateral Network (COLT), the pioneering Web3 lending platform, is transforming the borrowing landscape with its novel approach of utilizing physical assets as collateral to unlock liquidity. Whether it’s real estate, vintage cars, or even gold, users can now pledge their prized possessions as collateral – thanks to the cutting-edge technology of Collateral Network.
When users pledge their physical assets on Collateral Network, the assets are stored in a secure vault, and unique NFTs are created to represent them. These NFTs are 100% asset-backed, making them a highly desirable investment opportunity for lenders. Moreover, they are fractionalized, which allows multiple lenders to fund a loan with small amounts of capital.
For instance, if Ikedi owns a gold lantern worth $200k, the team at Collateral Network (COLT) will value the lantern and mint an NFT to represent it. This NFT is then divided into smaller fractions, which enables many lenders to fund Ikedi’s loan. Also, lenders receive significant returns from fixed interest rates. Once the loan is repaid, the NFTs are burned, and Ikedi’s lantern is redeemed from the vault.
This innovative solution makes Collateral Network an ideal choice for borrowers and lenders alike. Furthermore, industry experts predict that the value of the COLT token will increase by 3500% soon. Early-bird investors can take advantage of this lucrative opportunity by purchasing the token from the ongoing presale.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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