The value of Filecoin (FIL) and Bitcoin (BTC) has plummeted severely, but investors are optimistic for a resurgence in the near future.
However, Collateral Network (COLT), a new project, has re-awakened the bullish sentiments in the market with its presale, which is predicted to grow by 35x in the next few months.
Filecoin (FIL) Still Shows Bearish Bias
Crypto analysts have been closely examining the market performance of Filecoin (FIL) lately. Filecoin (FIL) is tightly positioned between bullish and bearish sentiments.
While the upcoming launch of Filecoin Ethereum Virtual Machine has built a positive environment for Filecoin (FIL), a report establishing the network’s strong Chinese connection has pulled it down.
The report revealed that big enterprises have refrained from using Filecoin (FIL) as it might expose their customer data to China-based entities. Subsequently, Filecoin (FIL) has suffered a severe fall on the growth chart.
The price of Filecoin (FIL) has dipped by 17% in the last seven days. As a result, Filecoin (FIL) trades at $5.24, which is 98% below its all-time high of $237.24.
Expert Questions Bitcoin’s (BTC) Future Existence
As the market passes through one of the toughest phases, the price of the biggest cryptocurrency, Bitcoin (BTC), has become a cause of concern.
Notably, the price of Bitcoin (BTC) has gone below the worrisome mark of $20,000. The collapse of Silvergate Capital has been the key reason behind Bitcoin’s (BTC) significant fall.
Even Peter Schiff, a gold bug and economist, has suggested people sell their Bitcoin (BTC) holdings.
He said that the “wave of blockchain-related bankruptcies,” including that of FTX Exchange and Silvergate, will soon cause the crash and “deep freeze” of the cryptocurrencies, including Bitcoin (BTC).
The price of Bitcoin (BTC) has fallen by 11% in the last week. Currently, Bitcoin (BTC) trades at $19,940.26, which is 71% below its all-time high of $68,789.63.
Collateral Network (COLT) Set To Turn Into A Blue-Chip Project Soon
Collateral Network (COLT) is a decentralized crowdlending platform that boasts institutional-level liquidity to facilitate peer-to-peer lending and borrowing backed by physical assets. Collateral Network (COLT) converts borrowers’ physical assets into NFTs, allowing borrowers to take crowdlended loans against it. These NFTs are sold to lenders to fund the loans.
Collateral Network (COLT) mints NFTs against real-world assets, and accepts many asset classes as collateral. These assets can include real estate, fine art, vintage cars, gold, fine wines, watches, diamonds, and other collectables. On Collateral Network (COLT), you can get loans against your physical assets within 24 hours, without impacting your credit scores.
Lenders on Collateral Network (COLT) can purchase these NFTs to fund the loans and earn interest, and also yield a fixed weekly income. Banks provide low-interest rates on savings, and the recent fallout of leading financial institutions has questioned their authority and stability, but new alternatives like Collateral Network (COLT) are showing that savvy investors can still make a return on their funds.
The presale of Collateral Network’s native token, COLT, has begun. COLT has been issued on the Ethereum blockchain. The value of Collateral Network (COLT) tokens for the presale phase is set at $0.01, which is predicted to soar to $0.35 in the coming weeks.
Since only early COLT holders will get specific privileges, including access to the VIP members club, as well as staking, governance rights, discounts and more, there is an immense rush toward Collateral Network’s presale.
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
