Amidst a 6% decline in Dogecoin (DOGE) and XRP (XRP) at the time of writing, the lesser-known Collateral Network (COLT) has soared 40% in value during the ongoing presale. Investors are eager to get their hands on discounted COLT tokens before the platform launches and prices skyrocket. Let’s take a closer look at the fundamentals of this cryptocurrency and why investors are so keen.
Collateral Network (COLT)
Collateral Network (COLT) is here to revolutionize the $4.5 trillion asset-backed lending market. The main feature of the platform is that it is the first crowdlending network that allows the use of physical assets as collateral to obtain a loan.
Collateral Network works by tokenizing a borrower’s physical asset into an NFT, which is then split into fractions and sold to investors/lenders. The amount of money used to buy the fractions contributes to the total amount of the loan.
For investors, this provides an opportunity to generate passive income by lending their funds to borrowers in exchange for an agreed interest rate. Collateral Network’s (COLT) fractional lending feature allows investors to diversify their portfolios by participating in multiple loans simultaneously, thus reducing their risk exposure.
For borrowers, the platform offers a fast and secure way to obtain collateral-backed loans with low-interest rates. No credit checks or loan applications are required, only a high value asset that you wish to unlock liquidity from.
COLT tokens can be purchased for just $0.014 during the ongoing presale. As Dogecoin (DOGE) and XRP (XRP) continue to struggle in the bear market, investors should consider buying into the Collateral Network presale for market leading returns and diversify their portfolios before it’s too late.
A wave of bearish pressure has swept across the crypto markets this week. Dogecoin (DOGE), a meme-inspired altcoin, has suffered the most, losing more than 6% in value at the time of writing.
Dogecoin (DOGE) was created as a joke currency in 2013 and is currently ranked 18th on CoinMarketCap. It is not known for its technological advancement or innovation; instead, Dogecoin (DOGE) is beloved by the crypto community for its meme culture.
With no hard use case, Dogecoin (DOGE) is highly volatile and often prone to dramatic price fluctuations. Dogecoin (DOGE) tends to only perform well for a few weeks before investors take their profits and move on. This is why Dogecoin (DOGE) is down 90% from the all-time high of $0.73 set in 2021.
Market analysts predict that Dogecoin (DOGE) will range between $0.050 and $0.010 for the foreseeable future. A new altcoin season after a Bitcoin (BTC) high will likely be needed to spark a new rally in Dogecoin (DOGE).
Another altcoin suffering from the bearish market is XRP (XRP). The sixth-largest cryptocurrency by market cap has declined 6% in the past 24 hours, dropping below $0.50 again.
XRP (XRP) was created as a digital asset to facilitate international payments between banks and financial institutions. XRP (XRP) is designed to be faster and cheaper than traditional payment systems, allowing users to send money abroad in seconds without paying high fees.
Although XRP (XRP) has been growing gradually over the years, it has yet to reach mainstream adoption. This is partly due to the ongoing SEC lawsuit, which has prevented many exchanges from listing XRP (XRP).
With a market cap of $24 billion and a daily trading volume of over $1 billion, XRP (XRP) remains a popular cryptocurrency despite the bearish pressure. XRP (XRP) analysts have predicted that once the SEC lawsuit is resolved and new investors enter the market, XRP (XRP) could surge to new all-time highs. Until then, XRP (XRP) is likely to remain rangebound between $0.30 and $0.60.
Read about the Collateral Network presale here: