Investors are consistently on the lookout for blockchain-based projects that can provide them with a high level of value throughout both the short term and the long term.
There are some projects that have indeed pushed through the noise and have gained a lot of attention in investor circles, one such project is Collateral Network (COLT), a project that has been forecasted to achieve an increase in its value by 35x for its holders.
Today, we will be looking at Collateral Network (COLT) and seeing how it stands out against other well-established projects such as Dogecoin (DOGE) and Litecoin (LTC).
Regarding the recent movements of the Dogecoin (DOGE) cryptocurrency, on April 4, Elon Musk changed the bluebird logo on Twitter to the Doge meme featuring a Shiba Inu Dog. The price of Dogecoin (DOGE) increased by 30% at this time, based on data from Lookonchain.
However, on April 7, Twitter’s logo was changed back to the bluebird, after which Dogecoin (DOGE) decreased by 6%.
During this period, two whales among the top 5 holders reduced their holdings by 1.4 billion Dogecoin (DOGE), worth $121 million.
As of April 9, 2023, Dogecoin (DOGE) was trading at $0.081588. Its all-time high was at $0.731578, a value reached on May 8, 2023.
The Dogecoin (DOGE) cryptocurrency is still up 23.2% in the last 30 days when seen from the perspective of the time of writing. The trading volume also decreased by 24.49% in the last 24 hours.
Based on all of this, while there is no imminent risk that DOGE might dip, it is slowly heading in a downward direction, and investors are worried.
Litecoin (LTC) made an announcement on April 7, 2023, where it went over how it ranked at number 4 regarding liquidity, based on Kaiko Data.
The crypto assets were ranked by debt, volumes, and spreads across 19 exchanges in Q4 of 2023. Litecoin (LTC) has moved four spots since the last quarter.
When we go over the value of Litecoin (LTC), on April 9, 2023, it was trading at $89.99. Litecoin (LTC) all-time high was on May 10, 2021, at $410.26. Litecoin (LTC)’s trading volume increased by 18.43%.
In the last seven days, the value of the Litecoin (LTC) cryptocurrency decreased by 2.9%. However, in the last 30 days, its value decreased by 17.3%. With all of this in mind, the future of Litecoin (LTC) is volatile and uncertain.
Collateral Network (COLT)
The Collateral Network (COLT) platform is the world’s first web3 crowdlending platform.
Collateral Network (COLT) makes it simple for just about anyone to get a loan from physical assets that they already own, powered by blockchain technology. Assets borrowers can use on Collateral Network (COLT) can include gold bars, luxury watches or even a supercar.
The process to obtain a loan is straightforward. Let’s say an individual owns a Patek Phillipe watch worth $100,000 and requires a $20,000 loan. The user sends in the watch to the team at Collateral Network where they run all the necessary checks. Once all is complete an NFT of the watch is minted and is a 1:1 representation of the physical item. This NFT is now broken down into smaller segments which enables lenders from across the globe the opportunity to fund the loan in smaller amounts but still receive an agreed rate of interest.
COLT is the native token of the Collateral Network platform and provides users with access to discounts, private auctions for distressed assets, staking, and governance rights on future developments of the platform. The smart token has been audited, and the team tokens will be locked for two years, while the liquidity pool will be locked for 33 years.
The COLT token is priced at $0.014. Analysts within the Web3 space predict that COLT has the growth potential to reach $0.35 in value, or a 3500% rise from its initial price in the upcoming months. This means that investors and traders have a unique opportunity to get involved in the project at its early stage before it explodes in value.
Find out more about the Collateral Network presale here: