Collateral Network (COLT) has taken the cryptocurrency world by storm with its impressive presale performance, outpacing even established projects like Filecoin (FIL) and Monero (XMR). But how was Collateral Network (COLT) able to sell more than 28 million tokens in such a short amount of time? Let’s take a deeper look at the project, its impressive features, and how it has become one of the most successful presales in crypto.
Collateral Network (COLT)
Picture an advanced digital platform that leverages blockchain technology to reshape the way individuals obtain loans. Collateral Network (COLT) serves as this groundbreaking solution, allowing people to secure financing by pledging their tangible assets — like jewelry, vehicles, and precious metals — as loan collateral.
Collateral Network (COLT) converts these physical assets into NFTs, which enable fractional lending and allows multiple lenders to collectively fund a single loan request. This expands the pool of potential lenders and enhances market liquidity on Collateral Network (COLT).
There are no middlemen on Collateral Network (COLT), as the platform is completely trustless and decentralized. This means that loan applications, repayment agreements, and collateral pledges are all automatically enforced by smart contracts without any human intervention.
The COLT token is essential to unlocking the full potential of the Collateral Network (COLT) ecosystem. Holding COLT in the official wallet comes with low-interest borrowing, reduced transaction fees, and staking opportunities.
With the price rising from $0.010 to $0.014 since launch, Collateral Network (COLT) has been able to secure a strong base of investors who are confident in the project’s potential. In fact, more than 30 million tokens have already been sold, making Collateral Network (COLT) one of the most successful presales in crypto — and it is just getting started.
Filecoin (FIL)
Filecoin (FIL) is a decentralized storage network that is powered by a cryptocurrency of the same name. Filecoin (FIL) started its presale in June 2017 and raised more than $205 million — a record-breaking figure at the time.
However, the reality of changing how the world stores data has been slow going. The Filecoin (FIL) mainnet is still in the process of being developed, and the network has faced a number of glitches that have led to decreased confidence in the project.
All of this has combined to create a downward trend in the token price, with Filecoin (FIL) currently trading at $5.61 — almost 98% lower than its all-time high of $237.24. Market analysts still believe that the price of Filecoin (FIL) will pump in a crypto-wide bull run, but a return to the all-time high is unlikely until the network is much further along in development.
Monero (XMR)
Monero (XMR) is a privacy-centric cryptocurrency that uses RingCT technology to enable secure and anonymous transactions. In 2017, Monero (XMR) saw strong gains due to its anonymity and fungibility features. The token was able to reach an all-time high of $517 on May 7th, 2021.
However, Monero (XMR) has since seen a significant decline in its price due to a drop in interest in privacy coins and increased competition from other projects like Zcash (ZEC), Dash (DASH), and Grin (GRIN). Monero (XMR) is currently trading at $154 — more than 70% lower than Monero (XMR)’s 2021 high.
Despite the price drop, Monero (XMR) remains a popular project due to its strong privacy features. Market analysts are confident that Monero (XMR) will eventually see a resurgence in price, but returns will be smaller compared to what can be achieved with newer, more industry-disrupting projects like Collateral Network (COLT).
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
