As the cryptocurrency market continues its bull run, investors are keeping an eye on projects that could surge. The most promising of these are Litecoin (LTC), Chainlink (LINK), and the upcoming Collateral Network (COLT) presale.
Litecoin (LTC) to Surge Amid Bitcoin Congestion
‘Digital Silver’ Litecoin could surge as Bitcoin faces congestion due to a surge in inscriptions on ordinals, a technology that lets users create NFTs on the Bitcoin blockchain.
Litecoin is a peer-to-peer cryptocurrency that was created in 2011 by Charlie Lee, a former Google engineer. Litecoin was designed to be a faster and cheaper alternative to Bitcoin, with a block time of 2.5 minutes and a maximum supply of 84 million coins.
The coin is based on the same code as Bitcoin, but with a few modifications such as the use of a different hashing algorithm and a different block reward structure. Litecoin has gained popularity as a means of payment due to its faster transaction times and lower fees compared to Bitcoin.
Litecoin’s features are particularly interesting as Bitcoin is facing network congestion issues. That’s why analysts are forecasting a surge in Litecoin’s price.
Long Forecast predicts that the LTC price, which started at $70 in 2023, will reach $98.68 by the end of 2025, with a +12% annual rise. Coin Price Forecast suggests that Litecoin might cross the $193.67 mark by the end of 2023 and $321.47 by the end of 2025.
Chainlink (LINK) Drops, But Analysts Expect Surge
While Chainlink’s price dropped on Sunday, experts still anticipate an upcoming surge, thanks to a new partnership.
Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. It aims to bridge the gap between blockchain-based smart contracts and real-world applications, thus enabling the creation of fully decentralized applications.
Despite a 0.51% drop to $6.94 on Sunday, Chainlink, the decentralized oracle service provider, has received a neutral rating from InvestorsObserver. However, recent news suggests that Chainlink is setting the pace for bullish growth in the near future.
Chainlink Functions recently debuted on the Avalanche Fuji testnet, expanding its reach in the blockchain ecosystem. This partnership highlights Chainlink’s use cases in the blockchain space, and drives upward momentum for its price.
Collateral Network set to revolutionize decentralized lending
In comparison to Litecoin and Chainlink, Collateral Network presents a unique and innovative approach to decentralized lending. This project aims to disrupt the lending industry by allowing users and SMEs to borrow cryptocurrencies against physical assets (real estate, cars, jewelry) on the blockchain.
The platform works by allowing borrowers to deposit their physical assets in a vault, where Collateral Network’s team values the item and mints the asset into an NFT that is fractionalized for lenders.
Multiple lenders can fund a loan on Collateral Network and receive fixed interest payments in return. Meanwhile, borrowers have no issue raising funds due to the exclusion of credit checks and not having to deal with traditional banking institutions.
Therefore, Collateral Network offers numerous benefits to both borrowers and lenders, such as fast turnaround times, privacy, transparency, low costs, and borderless access to credit.
COLT is currently in presale, and experts await a 3500% increase in its price. The token is also predicted to rise 100x when it hits major exchanges.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
Find out more about the Collateral Network presale here:
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