Ripple (XRP) made headlines throughout March and April after a series of significant price increases. Ripple (XRP) quickly attracted crypto whales and investors, though it has since declined due to market trends and the announcement of central bank digital currency (CBDC) developments.
In the meantime, Polygon (MATIC) and Collateral Network (COLT) have become strong Ripple (XRP) alternatives. COLT in particular has seen its price increase by 40%.
Ripple (XRP) Price Crashes, But Trading Volume Remains High
Ripple (XRP) has become one of the best-performing assets in the DeFi space. At the start of March, one Ripple (XRP) token was worth $0.3814. This surged exponentially throughout the month, hitting a 2023 high of $0.57 in April. However, the project’s growth has since slowed.
While many analysts expected Ripple (XRP) to continue surging after announcing its CBDC developments, general market trends have caused the value of Ripple (XRP) to crash by 12.53% in the last seven days. One Ripple (XRP) token is currently worth $0.4569, though daily training volume remains above $1 billion, suggesting investors expect Ripple (XRP) to bounce back soon.
Polygon (MATIC) Drops Below $1
Much like Ripple (XRP), Polygon (MATIC) is also feeling the impact of negative market trends. In the last seven days, Polygon (MATIC) has decreased in price by 18.56%, dropping below $1 to $0.9626. Although this appears negative, daily trading volume has remained high, with around $400 million worth of Polygon (MATIC) transactions taking place daily.
Many investors are choosing to buy the latest Polygon (MATIC) dip, believing its value will surge when the market bounces back.
While its value has decreased, the Polygon (MATIC) NFT market is booming. Polygon (MATIC) NFT sales have surged 86% following the release of Goofy Gophers and Spacebudz, both of which are expected to change the Polygon (MATIC) NFT space. Polygon (MATIC) will likely surge over the next few months if the market continues to boom.
Collateral Network (COLT) Continues To Dominate The DeFi Market
As the general crypto market takes a hit, Collateral Network (COLT) has reached new all-time highs during its presale. Recently increasing from $0.01 to $0.014, confidence is now growing, with analysts predicting returns of 3500% for early investors.
Collateral Network is expected to disrupt the $billion lending industry with its unique lending platform and protocol. The project applies DeFi technology, particularly NFTs, to the crowdlending industry, enabling individuals to unlock liquidity from high-value off-chain physical assets.
These assets are brought on-chain as NFTs, backed 1 to 1 by the physical asset, and fractionalized. Investors can then buy these NFT fractions and receive a fixed passive income for helping to fund the loan.
If a borrower defaults on their payments, the asset is auctioned to COLT token holders, ensuring investors always have their loans returned.
Collateral Network (COLT) tokens are currently available during phase two of the project’s presale. One token is selling for $0.14, though it is expected to surge in the next few months, with additional price increases once Collateral Network (COLT) hits major exchanges.
Find out more about the Collateral Network presale here:
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