As the crypto market continues to expand, the bridge utility of both Arbitrum (ARB) and Chainlink (LINK) has attracted the attention of investors and developers alike.
However, Collateral Network (COLT), currently in its presale phase, is set to outpace both with its novel cross-chain crowdlending platform. Let’s jump into the specifics of these three protocols.
Collateral Network poised to revamp lending and borrowing
Collateral Network is an innovative lending platform that has the potential to revolutionize the $4.9 trillion asset-backed lending sector. Collateral Network works by connecting borrowers and lenders via blockchain technology that is free from intermediaries and middlemen.
All borrowers need is a physical asset to use as loan collateral. Collateral Network will then mint an NFT to represent the asset and allow lenders to purchase fractions of the loan. These fractions can be bought for as little as $10, allowing for a wide variety of lenders to participate.
For borrowers, Collateral Network’s new approach to lending offers a faster, cheaper, and more transparent way of accessing capital. Plus, there are no credit scores or debt-to-income ratios to worry about, and the borrower gets their asset back once the loan is paid in full.
COLT can be purchased for $0.0201 during the second phase of the Collateral Network presale. But this low price won’t last forever much longer as the COLT price is scheduled to rise in increments as the presale progresses. Analysts believe that COLT will disrupt the trillion-dollar lending industry and could grow by 100x once it hits mainstream exchanges.
Arbitrum price analysis
Ethereum stands as a juggernaut in the realm of smart contracts, but it’s also infamous for its regular bouts of network congestion. This results in slower transaction times and skyrocketing fees. Arbitrum (ARB), a layer 2 solution, enters the scene to counter this problem by offering a quicker and more streamlined transaction process.
Arbitrum made its debut in April, and since then, it has proven its worth by achieving a total value locked (TVL) of over $2.49 billion. This impressive feat showcases the practical value that Arbitrum brings to the table, and it also signals the swift adoption of Arbitrum’s bridge solution by the crypto community.
Pricewise, Arbitrum is moving between $1.00 and $1.30 as of late, with the reaction at $1.00 getting stronger as the market realizes the potential of Arbitrum to become the go-to bridge for cheaper transactions. A break of $1.30 will likely see the price of Arbitrum (ARB) quickly surpass the recent peak of $1.80, so investors are keeping a close eye on the new asset.
Chainlink price analysis
Chainlink is a decentralized oracle network that connects off-chain data to smart contract technology. Chainlink’s bridge between the on-chain and off-chain worlds offers immense potential for developers who want to build and deploy decentralized applications (dApps).
Chainlink reached an impressive price peak of $52.88 in 2021. However, since that high, Chainlink has experienced a considerable price correction and currently sits at $6.35 — a drop of 88%.
Analysts are keen to note that Chainlink still has strong fundamentals and the bridge utility is being used by real companies, like Accuweather. Chainlink now needs to wait for a bull market that can take the Chainlink (LINK) price past the $10 zone that was acting as resistance for one year now.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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