The blockchain space houses some of the most well-established and influential projects. But experienced investors know that the true value can be found in new projects with a high potential to disrupt the blockchain space and provide a high level of value to each of the holders of its native cryptocurrency.
Chainlink (LINK) and Cosmos (ATOM) have been some of the most notable Web3 projects. Their recent performance has indicated a downward pattern, while new projects in their presale stages, such as Collateral Network (COLT), showcase a bullish outlook.
With the potential to 35x in value, Collateral Network (COLT) could represent one of the best investments for 2023, and today, we will go over why this could be the case.
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Collateral Network (COLT)
The Collateral Network (COLT) platform is a web3 Peer-to-Peer (P2P) platform where anyone can begin borrowing cryptocurrencies against their physical assets.
The Collateral Network (COLT) platform can disrupt the lending industry by bringing it into the blockchain digital era. It is built on top of the Ethereum blockchain, which has widespread appeal and adoption within the Web3 space and within the realm of Decentralized Finance (DeFi).
Let’s say that Jenny has jewelry in the form of watches, bracelets, necklaces, or anything else in a physical form worth $100,000 and needs a short-term loan. In this case, Jenny would send the jewelry as collateral, and the Collateral Network (COLT) team would authenticate and accurately value it.
The jewelry would be stored in a vault, and an NFT would be minted, representing the physical assets. This would make an NFT that is 100% asset-backed.
This newly-created NFT would then be fractionalized into smaller pieces, where investors can lend smaller amounts of money for an agreed fixed interest rate for a specific time frame. The borrower would then repay the principal loan alongside interest. The NFTs then get burned at the point in time when the jewelry gets redeemed from the vault.
For those who default on their loans, the assets get auctioned. This means that Collateral Network (COLT) will host exclusive online auctions for these assets.
The COLT cryptocurrency is native to the platform and has a high level of utility. Collateral Network (COLT) token holders can access the auctions mentioned above, get reduced borrowing costs, and get price cuts on trading fees. The COLT token is also used for governance and can be staked.
At the Stage 1 presale, COLT is offered at $0.01. Analysts predict that the token can reach $0.35 in value or spike by 3500% over the upcoming month, making it one of the best cryptocurrencies to add to a portfolio in 2023.
>>BUY COLT TOKENS NOW<<
Chainlink (LINK) recently published an update announcing seven integrations of 3 new Chainlink services across five blockchains, including Arbitrum, Avalanche, BNB Chain, Ethereum, and Polygon.
As of March 27, 2023, the Chainlink (LINK) cryptocurrency traded at $7.18.
In the last 24 hours, the cryptocurrency decreased by 0.48%, and in the last seven days, it saw an additional decrease of 2.52%.
Its current value is also a far cry from its all-time high, where on May 10, 2021, Chainlink (LINK) was trading at $52.70. This indicates that Chainlink (LINK) is now 86.33% under its all-time high.
In the last 30 days, Chainlink (LINK) also decreased by 3.6%, and if it keeps up with this downward momentum, investors could see LINK trading under $7. Due to this bearish outlook, Chainlink (LINK) holders are eyeing different cryptocurrencies with high profitability.
Cosmos (ATOM) published a project showcasing Solarchain, enabling token-incentivized data and vehicle connectivity infrastructure. Despite the growth of its ecosystem, the project has not experienced much growth in its native cryptocurrency.
The Cosmos (ATOM) cryptocurrency was trading at $11.16 as of March 27, 2023. Cosmos (ATOM) decreased by 7.83% in the last seven days. In the last 24 hours alone, it decreased by 1.29%; in the last month, this decrease was 14.7%.
The all-time high of Cosmos (ATOM) was on January 17, 2022, at $44.45, indicating that it’s now 74.86% lower in value.
The bearish outlook behind cryptocurrencies such as Cosmos (ATOM) has left investors in a zone where they must look at alternative, lesser-known altcoins with high-return potential.
Find out more about the Collateral Network presale here:
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