Ethereum (ETH) and Ripple (XRP) prices have been in the red lately. This could spell trouble for holders who bought in at their recent highs. If you want to diversify, keep reading to find out why DCAing into Collateral Network (COLT) could be a smart move.
Should You DCA in with Collateral Network (COLT)?
If you are worried about the future of your investments, DCA, or dollar-cost averaging, has always been a precious tool in any savvy investor’s toolbox. It’s a strategy pertaining to cautious investors who buy assets at regular intervals rather than buying once in bulk. Making smaller transactions over a longer period has always been associated with the possibility of greater returns in the future.
The Collateral Network (COLT) platform is the first of its kind in that it allows individuals and businesses to access funds using illiquid assets as collateral, including gold bars, diamonds, real estate, or even artwork. The beauty of this method with Collateral Network, is borrowers can access capital without the long-winded and stressful processes associated with traditional institutions or having to sell their item.
Collateral Network appraises the asset, then mints an asset-backed NFT representing the asset and makes it available to numerous lenders. Lenders can use their currencies to fund the loans and generate healthy weekly returns.
If you are considering consolidating your portfolio, Collateral Network is a great option for such a strategy. This is a crowdlending platform, the first of its kind in DeFi disrupting a multi-trillion dollar sector, the potential is astronomical.
At the time of writing, the COLT price has skyrocketed by 40%, reaching $0.014, and is expected to reach as high as $0.35 by the end of the presale. Now is an opportune time to be involved with top web3 DeFi project at the early stages.
Ethereum (ETH) Price Falls By 10%
Ethereum (ETH) has increased considerably in 2023, but it seems like Ethereum is losing steam as it is down by 10% in the past week, at press time.
More specifically, the drop in Ethereum may be due to the weakening of the European and US economies, which are battling higher expected interest rates. Both may experience slow growth, which lowers investors’ appetite for risk, especially as the jobless figures were reported higher than expected, indicating an economic slowdown.
In light of rising macroeconomic concerns, the crypto market, along with its leader, Ethereum (ETH), may be challenged as investors’ sentiment continues to deteriorate. Ethereum holders may want to be extra cautious and fine-tune their risk management strategies by diversifying away from Ethereum.
Ripple’s (XRP) Reputation Takes a Hit
Apart from the years-long legal battle with the SEC, Ripple (XRP) now has to fight to wash its reputation. A new report has revealed that Ripple’s business is not what it was believed to be. The company was initially thought to facilitate cross-border payments with or without XRP.
However, new allegations claim that the successful XRP business is nothing more than a puppet show. In short, Ripple is accused of “encouraging” its partners to transfer via XRP by offering a reduced fee, thus indirectly altering the sale of Ripple.
Unsurprisingly, Ripple has decreased by more than 10% in the past few days, which is a concerning drop for its holders. Corroborated with the uncertainty from Ripple’s legal case, where it is accused that it raised over $1 billion in 2013 from the sale of its native token, the community’s trust is shaken, and Ripple may have to enhance its efforts to diffuse the heat.
Summary
All in all, the crypto market may influence the trajectory of some cryptos, such as Ethereum, but just like in the case of Ripple, there are many unique, individual factors affecting the performance of any given token. Collateral Network sets itself apart from the broad market thanks to its capability to revolutionize the way people lend and borrow money in the future.
Read 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
