As the crypto universe is expanding, projects are evolving too. Rising competition has forced crypto projects to be vigilant of the slightest market movement, and adjust accordingly.
Avalanche (AVAX) and Ripple (XRP) have fought to stay afloat. Meanwhile, Collateral Network (COLT) has dazzled the entire crypto market with its massive growth projection of 35x.
The presale of Collateral Network (COLT) has already raised over $240k in just a few days – Let’s see what else has been happening in the crypto market.
Avalanche (AVAX) Takes Precautionary Measures
Amid all the confusion and uncertainties, Avalanche (AVAX) has frozen the trading of stablecoins. Avalanche (AVAX) resorted to this action after USD Coin (USDC) gotde-pegged on March 11.
The Avalanche (AVAX) network informed its users that the decision was taken in response to the recent price volatility caused by USDC. Recently, Avalanche (AVAX) also entered a partnership with esports giant, TSM, for Web3 gaming.
Meanwhile, the price of Avalanche (AVAX) has increased by 1% in the last seven days. However, Avalanche (AVAX) is still down by 1.22% on the monthly chart.
Avalanche (AVAX) currently trades at $16.64, which is 88.62% below its all-time high of $146.22. At present, Avalanche (AVAX) is in the 18th position by market capitalization.
Ripple (XRP) Moves To The Green Zone
Ranked 6th by market capitalization, Ripple (XRP) recently faced a major setback after Silicon Valley Bank collapsed.
Notably, Silicon Valley Bank was Ripple’s (XRP) banking partner. Although Ripple (XRP) CEO admitted that the network was exposed to the SVB fiasco, he assured users that the blockchain platform was in a strong financial position.
His comments have come as an assurance to the Ripple (XRP) community, which is eagerly awaiting the final verdict in SEC’s lawsuit against it. The price of Ripple (XRP) has witnessed an increase in the past few days.
Consequently, the value of Ripple (XRP) has surged by 2% in the past week. Consequently, Ripple (XRP) is being traded at $0.37, which is about 90% below its all-time high of $3.84.
Collateral Network (COLT) Set To Register A Meteoric Rise During Presale
More and more people every year need loans but they do not fulfill the ever-increasing requirements of traditional financial institutions. Hence, they end up selling their valuable assets to any individual or pawn shops, which charge exorbitant rates or undervalue the asset.
Thus, people were in dire need of a platform that could address this issue, and the crypto community has found the best option in Collateral Network (COLT).
Collateral Network (COLT) is the first decentralized crowdlending platform. Collateral Network (COLT) is a peer-to-peer lending platform that has a hybrid infrastructure model enabling borrowers to unlock liquidity against their physical assets. On this platform, everything is done on a decentralized network, from valuation to determination of lending rates.
Collateral Network (COLT) enables its users to take a loan against their physical assets, like luxury watches or fine art without selling them. The network mints NFTs against the real-world assets that stay stored in the platform’s vaults till the repayment of the loan.
The network also helps lenders become their own banks, and provide loans at fixed interest rates, earning more for their capital.
The ecosystem of Collateral Network will be run by COLT, the platform’s native token. The current price of COLT tokens for the presale round is $0.01, and is expected to ascend by 35x in the upcoming months – For the biggest gains in the crypto market today, investors are turning to Collateral Network (COLT)
Find out more about the Collateral Network presale here:
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