In the blockchain space, it is important to follow the narrative of the overall market and see in what direction investors are moving.
As centralized banks are collapsing and the overall inflation rates are reaching far in our recent historic markets, more investors are moving towards alternative asset classes.
One of the latest blockchain-based projects to make a lot of noise is Collateral Network (COLT), which can revolutionize how users borrow cryptocurrencies against physical assets on top of the blockchain.
Today, we will be exploring Collateral Network (COLT) and see how it stacks up against other competing projects, including BNB (BNB) and Litecoin (LTC).
BNB (BNB)
BNB (BNB) made an announcement on April 6, 2023, surrounding the BNB Chain Zero2Hero event in the Hackathon Space. In it, they announced the discussion of Metaverse gaming with CARV.
On April 6, 2023, BNB (BNB) was trading at $312.28. In the last 24 hours, the BNB (BNB) saw a decrease in value by 1.1%. However, in the last 30 days, the coin is still up by 8.4%. Its all-time high was on May 10, 2021, at $686.31. When we go over its trading volume, it decreased by 2.57% in the last 24 hours.
The BNB (BNB) coin has an uncertain future ahead of it and is experiencing stagnation in its growth, which might inspire investors and traders to look elsewhere for alternatives.
Litecoin (LTC)
Litecoin (LTC) on April 5, 2023, posted on Twitter that month after month, Litecoin (LTC) stats with the world’s largest payment processor showcased that the coin is one of the most consistently utilized for cryptocurrency payments. It was second at 23.04% under Bitcoin (BTC), which was used at 46.51%.
Going over Litecoin (LTC)’s value, on April 6, 2023, it was trading at $91. Its all-time high was on May 10, 2021, at $410.26. Over the last 24 hours, Litecoin (LTC) decreased by 3.2%, but it is still up by 4.1% in the last 30 days. Its trading volume also decreased by 5.72% in the last 24 hours.
In a similar pattern as BNB (BNB), Litecoin (LTC) has also experienced a halt in its growth and has an uncertain future.
Collateral Network (COLT)
On the other hand, Collateral Network (COLT) is a project that analysts predict can 35x in value in the coming months.
The Collateral Network (COLT) project is a web3 platform that operates a Peer-to-Peer (P2P) network where anyone can borrow cryptocurrencies against physical assets that they already own, all through blockchain technology.
A lot of assets can be minted in the form of a non-fungible token (NFT) on top of Collateral Network (COLT), including vintage cards, gold bars, fine watches, diamonds, and much more.
The NFT represents the underlying asset and is 100% asset-backed. After The NFT, has been minted, it can be fractionalized into smaller pieces for a higher usability on-chain and makes an asset that is otherwise illiquid accessible to a lot more people.
Borrowers can benefit from this functionality, as they can unlock liquidity from their real-world physical. Lenders benefit as they can fund multiple loans with smaller amounts and receive an agreed rate of interest.
There are also auctions. Whenever an asset gets distressed, investors will be provided with the opportunity to buy them below market value, and this occurs whenever a borrower defaults on a loan.
The native token, COLT, is used for access to the auctions, reducing borrowing costs, and for price cuts on the trading fees as a crowd lender. It also provides access to governance and staking rewards.
At its presale stage, the Collateral Network (COLT) token is sold at $0.01. Analysts predict it can reach $0.35, a 3500% increase in the following months.
Collateral Network (COLT) offers a unique solution and an additional level of functionality to real-world assets, and this makes it one of the top contenders for high-value altcoins in 2023.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
