After the collapse of FTX, all crypto exchanges, including KuCoin (KCS) and Binance (BNB), have come under legal scrutiny. Subsequently, a bearish environment has enveloped these cryptos.
On the contrary, Collateral Network (COLT) has sparked an interest among whales due to its growth potential. Collateral Network (COLT) is expected to grow by a minimum of 3500% during its presale, and 100x after listing. Thus, its presale tokens are selling out fast.
KuCoin (KCS) Launches New Body For Regulatory Compliance
KuCoin (KCS) has been under the US regulators’ watch for quite some time. KuCoin (KCS) faced a severe legal threat after the New York Attorney General filed a lawsuit against the cryptocurrency exchange.
This made the entire environment surrounding KuCoin (KCS) bullish. As a result, the price movement of KuCoin (KCS) has hit a roadblock. KuCoin’s (KCS) value was growing at the beginning of 2023, but has been falling for the last few weeks. KuCoin’s (KCS) price has fallen by 1% on the monthly chart.
Consequently, KuCoin (KCS) is trading at $8.40. However, KuCoin (KCS) has taken some steps to improve its negative outlook. Recently, KuCoin (KCS) launched Digital Assets Regulation Institute (DARI), in association with VAIOT, to promote regulatory clarity and coherence.
Binance (BNB) Desperately Searches For A Banking Partner In US
The problems for Binance (BNB) seem to be only increasing. Binance (BNB) was already caught up in many controversies, including its China connection and misappropriation of users’ funds. But Binance (BNB) is now faced with another market challenge.
Reportedly, Binance’s (BNB) US arm is struggling to find a bank that can handle its customers’ cash. Earlier, Binance (BNB) deposited users’ money into either Signature Bank or Silvergate Capital, and both of them have fallen now. According to reports, banks like Customers Bancop Inc, and Cross River Bank are reluctant to partner with Binance (BNB) due to regulatory risk.
Given all these situations, Binance (BNB) has nosedived by 2% on the weekly price chart. Currently, Binance (BNB) is changing hands at $310.11.
Collateral Network (COLT) Staring At New Presale Record
Collateral Network (COLT) is a Web3-based crowdlending platform that allows borrowers to unlock liquidity from their physical assets. The platform allows people to use a vast range of real-world assets to secure a loan from lenders worldwide within 24 hours.
Collateral Network (COLT) accepts many commodities such as fine wines, real estate, luxury supercars or gold bars and more. The platform does not force users to undergo any paperwork or share credit history to obtain loans, solving many of the issues with the traditional lending sector. These assets are minted as fractionalized NFTs, which enable multiple lenders globally to fund the borrower’s loan, entitling them to a fixed share of the interest. Meanwhile, borrowers can access capital faster than ever before.
The platform’s native token, COLT, has been built on the Ethereum blockchain, and its smart contract has been audited. COLT holders enjoy various benefits across the ecosystem, like staking, governance rights, discounts, and even access to exclusive VIP groups.
During the ongoing presale phase, COLT is available to buy at $0.014, having already surged over 28% from its initial price of $0.01. COLT’s market value is expected to surge by 3500% before the culmination of the presale round, highlighting the immense demand around this rapidly selling presale.
Find out more about the Collateral Network presale here:
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