The recently-occurred FTX collapse has caused a high degree of pessimism in the crypto market, due to which projects like VeChain (VET) and Solana (SOL) have nosedived. On the other hand, the new crypto project, Collateral Network (COLT), has defied all market odds during the presale and has emerged as the most profitable crypto with a token price of only $0.01 in the first presale phase.
VeChain (VET) Shift To Proof-of-Authority Lacks Support
VeChain (VET) recently shifted to a Proof-of-Authority consensus mechanism in a bid to increase its customer base. However, things didn’t turn out as per the expectations of VeChain (VET) developers. The price of VeChain (VET) has plunged more than 18% in the last 30 days. Consequently, VeChain (VET) is currently trading at $0.02537.
VeChain (VET) is a smart contract platform aiming to strengthen supply chain management for all businesses. VeChain (VET) was launched with the primary aim of simplifying the flow of data for complex supply chains. Several multinational companies, including BMW Group, DB Schenker and Groupe Renault, have adopted the VeChain (VET) blockchain network for their businesses.
Solana (SOL) Faces Multiple Challenges
Solana (SOL) has been in the news lately, but not for good reasons. Solana (SOL) has been facing severe criticism due to its frequent network outages. Moreover, a recent report has suggested that the number of active developers on the Solana (SOL) network has dropped by more than 90% in 2022. With such a bleak outlook, Solana (SOL) has witnessed some significant decline in the last few weeks.
The price of Solana (SOL) has fallen by around 31% in the last month. On the weekly chart, Solana (SOL) has tumbled by 22%. As a result, the current trading price of Solana (SOL) has come down to $23.55, which is below its all-time high of $260.06.
Collateral Network (COLT) Emerges As A Revolutionary Token
Since the borrowing and lending of cryptocurrencies had become a rampant practice in the crypto world, many people felt the need for a platform that is dedicated to the same. It is in this context that Collateral Network (COLT) has been built. Collateral Network (COLT) is the world’s first blockchain-based platform that caters to the need for lending and borrowing cryptocurrencies.
Collateral Network (COLT) empowers borrowers to get loans against real-world physical assets, without selling them, using blockchain technology. Collateral Network (COLT) mints fractional NFTs against real-world assets that are owned by borrowers. By investing in these fractional NFTs, Collateral Network (COLT) users can fund the loans for borrowers. Additionally, Collateral Network (COLT) users can take a loan on the platform within 24 hours without getting their credit history affected.
Collateral Network (COLT) offers several advantages to its lenders. Collateral Network (COLT) users can lend funds by purchasing fractional NFTs. Notably, the value of these NFTs is bound to remain stable and ever-growing as they are backed by real-world assets. This makes Collateral Network (COLT) immune to market speculations and hype. The platform users can provide fractional loans to borrowers at a fixed interest rate. Besides, lenders will be eligible to receive a fixed income every week.
COLT is the native token of the Collateral Network (COLT) ecosystem. With an initial trading price of $0.01, the presale of COLT tokens has begun. Market analysts have predicted that the price of Collateral Network (COLT) will ascend by 35x in the coming six months.
COLT token holders will get several benefits, including voting rights, staking, access to the VIP members club and discounts on borrowing and trading fees.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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