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In this article, we discuss the recent impact of fake news on Tron (TRX), Collateral Network (COLT) making headlines with a 40% pump during its presale phase to a price of $0.014, and Litecoin (LTC) gearing up for another breakout attempt. So let’s have a look at them.
Collateral Network (COLT)
Collateral Network (COLT) stands at the forefront of financial innovation, presenting a groundbreaking crowdlending platform that harnesses blockchain technology to reshape traditional lending practices.
Through Collateral Network (COLT), borrowers can transform their tangible assets, such as jewelry, real estate and fine wines, into unique items used as collateral in the form of NFTs. These physical assets are stored in the Collateral Network (COLT) vault for the duration of the loan, acting as collateral for it.
Then, the NFT is fractionalized. By fractionalization, Collateral Network (COLT) empowers multiple lenders to finance the same loan, which significantly increases the overall amount of liquidity in the market as well as enabling them to receive a weekly income at a fixed interest rate for themselves through lending for the loans.
The Collateral Network (COLT) ecosystem relies on its own token, COLT, to facilitate transactions between all Collateral Network (COLT) users. COLT token holders also enjoy numerous advantages, including improved borrowing rates, fee reductions and rewards for staking on Collateral Network (COLT).
With the potential to redefine the lending industry, the Collateral Network (COLT) presale represents an exceptional opportunity for forward-thinking investors to purchase COLT tokens at a mere $0.014 before they make their debut on leading exchanges and then could surge further by 100x.
Tron (TRX) has been dealing with the ripple effects of a controversial Twitter account that posted false information about Tron (TRX) founder Justin Sun. The account manipulated the markets by claiming that Sun had been arrested, causing a panic sell-off in Tron (TRX) prices and leading to a loss of over $400m in market capitalization in just one hour.
The Tron (TRX) price bounced back immediately after the fake news was debunked, but this incident serves as an important reminder of how quickly fake news can spread and cause volatility in the markets. As a result, Tron (TRX) investors should remain vigilant at all times to avoid being taken advantage of by malicious accounts or actors.
On the daily chart, Tron (TRX) is attempting to break out of a diagonal trendline, with a possible target at $0.09 if Tron (TRX) can manage to break this resistance. However, a move above the all-time high of $0.30 is likely once a major catalyst that can drive more buying interest appears.
Finally, Litecoin (LTC) is gearing up for another breakout attempt, as the token has seen an enormous rally over the past few weeks. An increase in institutional adoption of Litecoin (LTC) could be driving this bullish momentum, with more and more investors looking to invest in the token as a hedge against inflation.
On the daily chart, Litecoin (LTC) is attempting to break above the $100 resistance level, which could lead to a new all-time high in the near future. Litecoin (LTC) has already made gains of more than 30% this year and is currently trading at $95.27.
The upcoming Litecoin (LTC) halving event is the catalyst that could drive Litecoin (LTC) prices higher in the near future. Traditionally, Litecoin (LTC) has seen an increase in prices after previous halvings, which means that Litecoin (LTC) is likely to break out and target the $200 mark soon.
Find out more about the Collateral Network presale here: