Collateral Network (COLT) is making waves in the cryptocurrency world with a presale campaign that has established new records, leaving projects like Tron (TRX) and Quant (QNT) lagging behind. In this article, we’ll explore the impressive performance of Collateral Network’s presale and what it could mean for the trillion-dollar lending market.
Collateral Network’s presale couldn’t be any better — over 100 million COLT tokens have been sold, and the price has increased by 40%. Analysts are now predicting that the price could grow by 3500% in the next few months as the project becomes increasingly popular and demand for COLT increases.
Collateral Network is a decentralized crowdlending protocol that utilizes blockchain technology to facilitate trustless loans. Collateral Network allows users to borrow against their valuable assets — such as watches, cars, real estate, and jewelry — without third-party intermediaries. Therefore, the physical asset acts as collateral for the borrowed funds.
Collateral Network (COLT) goes one step further by minting an NFT to represent the borrower’s physical asset. Tokenizing collateral in this way allows it to be broken into smaller parts, enabling multiple lenders from around the globe to hold portions of a loan. This opens the leading industry to anyone, regardless of their geographic location or wealth status.
Holding the COLT token comes with lower borrowing fees, staking rewards, and exclusive access to auctions. COLT is currently priced at $0.014, but this price is scheduled to rise as each milestone is achieved.
Industry experts note that Collateral Network could be a game-changer for the $4.9 trillion lending market, and Collateral Network rising to a billion-dollar market cap is expected in the near future.
As Collateral Network basks in the glow of growing interest, Tron languishes in a state of decline. Tron emerged in 2017 with the vision of establishing a worldwide digital content ecosystem through the use of decentralized applications (dApps) and smart contracts.
However, Tron has stumbled in its quest to make significant strides in this realm. Despite Justin Sun, Tron’s founder and CEO, placing considerable energy into marketing the project, Ethereum (ETH) remains the go-to platform for developers building dApps.
For example, Tron’s total locked value (TVL) sits at just $5.49 billion, while Ethereum’s TVL is currently $29 billion. This has caused the price of Tron (TRX) to fall from an all-time high of $0.30 to a current price of $0.067.
Experts in the market predict that Tron’s value will hover between $0.05 and $0.08 until a sustained bull market emerges. Even under such favorable conditions, Tron is expected to underperform when compared to newer, groundbreaking projects like Collateral Network (COLT).
Quant is another established project that has failed to keep up with the momentum of Collateral Network. Quant has a goal of creating a decentralized financial system with the use of its Overledger platform, which allows the access of data from multiple ledgers within a single network.
Despite the project’s strength in technical infrastructure, Quant’s market performance has been mediocre at best. The price of Quant (QNT) has declined by 72% from its all-time high of
$428.38 set in 2021.
Short-term price action is no better, with Quant’s (QNT) price falling by more than 50% in the last six months. Quant analysts note that the speculation surrounding the adoption of Quant’s Overledger platform has yet to come to fruition and that the Quant (QNT) price will range between $100 and $150 until there is an update on this front.
Find out more about the Collateral Network presale here:
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