Tezos (XTZ) and Tron (TRX) slide downward as Collateral Network (COLT) presale launches
As Tron (TRX) and Neo (NEO) holders face uncertainty in the market, the innovative lending platform Collateral Network (COLT) is gaining momentum during its presale phase.
With its unique approach to peer-to-peer loans and fractionalized NFTs, Collateral Network (COLT) is capturing the attention of investors looking for the next big opportunity in the blockchain space, and has seen forecasts of a 35x price increase.
Think of Collateral Network (COLT) as a revolutionary decentralized crowdlending platform that leverages advanced blockchain technology to reinvent the way people access loans and invest in them. Say goodbye to tedious paperwork and credit checks, as Collateral Network (COLT) focuses on the value of an item that serves as collateral for the loan. These assets can range from luxury houses, vintage wines, and luxury watches.
Collateral Network (COLT) mints the borrower’s item into a fractionalized NFT, which allows for the loan to be divided among multiple lenders. As a result, borrowers on Collateral Network (COLT) can quickly obtain the funds they need, while lenders share the risk by investing in smaller portions of the loan.
The COLT token is essential to Collateral Network (COLT), as it streamlines transactions and payments between borrowers and lenders. Additionally, COLT token holders enjoy better loan rates, discounted marketplace fees, and staking rewards on Collateral Network (COLT).
With Collateral Network (COLT) currently in its presale stage, investors have a prime opportunity to get involved in a platform that has the potential to disrupt the multibillion-dollar lending industry. COLT is priced at just $0.01 per token, but the price is scheduled to rise with the completion of each presale stage — potentially up to $0.35.
Tezos (XTZ) stands out among the crypto market due to its focus on enabling a self-amending cryptographic ledger. Tezos (XTZ) is designed to facilitate upgrades and updates without having to split into different blockchain versions.
However, this technical advantage hasn’t been enough to combat the downward slide of Tezos (XTZ). The token is currently sitting at a price of $1.08 per Tezos (XTZ), which marks an 88% decrease from Tezos (XTZ)’s all-time high of $9.17 in October 2021.
This slump in price seems to be due to Tezos (XTZ) being left in the dust as newer projects gain momentum. The Tezos (XTZ) team needs to find ways to innovate and increase the adoption of Tezos (XTZ), otherwise, the price is destined to continue lower during 2023, especially if the $1.00 level doesn’t hold.
Tron (TRX)
Meanwhile, Tron (TRX) holders are also feeling the pinch as the coin struggles to keep up with newer projects. Tron (TRX) is currently trading at $0.064 per token, which marks an 88% decrease from Tron (TRX)’s all-time high of $0.78 in April 2021.
The main issue with Tron (TRX) is that it has failed to keep up with the ever-evolving blockchain technology space, leaving Tron (TRX) feeling outdated and outpaced by newer projects. The solution involves increasing development activity and adoption of the Tron (TRX) network, or risk remaining on a downward trajectory throughout 2023.
Analysts are suggesting that Tron (TRX) could potentially break the $0.10 barrier, but only if more projects are built on the network. However, with the likes of Ethereum (ETH) proving to be the more popular choice for projects, it will be a difficult task that may not be achievable for Tron (TRX) in the near future.
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