Amid the ongoing market uncertainty, which has crippled projects like Monero (XMR) and Ripple (XRP), Collateral Network (COLT) has posted an astounding growth trajectory with a 40% price increase so far in presale. Let’s find the reason behind the contrasting performances of Monero (XMR), Ripple (XRP) and Collateral Network (COLT).
Monero (XMR) Publicity Wanes
Monero (XMR) was recently added to Cake Wallet, enabling crypto enthusiasts in many countries to buy XMR using fiat currency. Some crypto enthusiasts hope that it can revitalize the trade of Monero (XMR), which is losing its shine. The price of Monero (XMR) plummeted by 12% since the beginning of the year and is currently hovering at $152.72.
As governments worldwide tighten their grip over the crypto market, privacy tokens like Monero (XMR) have been among the biggest sufferers. The Monero (XMR) popularity has fallen severely since the beginning of 2023. Recent data by LunarCrush suggests that the Monero (XMR) social dominance has plunged by 30% in the past three months. Moreover, Monero (XMR) bulls have become 37% weaker, and bearish sentiments around XMR have increased by 34%.
Forbes Report Drops Bombshells On Ripple (XRP)
Since the SEC filed a lawsuit against Ripple (XRP) in a US court in 2020, XRP has consistently been in the news. While Ripple (XRP) was in the news last week due to its response to the SEC’s latest filings, it hit the headlines this week because of a Forbes article. The investigative article published by John Hyatt, a senior wealth reporter at Forbes, has made some serious allegations against the business practices of Ripple (XRP).
According to experts, the report can weaken the case of Ripple (XRP) against the SEC. Since a final verdict in the lawsuit is expected soon, the investigative report has deterred some investors from investing in Ripple (XRP). Subsequently, the market value of Ripple (XRP) has plummeted by over 7% in the last week. At press time, Ripple (XRP) was trading at $0.47.
Collateral Network (COLT) Sparks A New Hope In The Market
Intending to revolutionize the credit industry, Collateral Network (COLT) is the first Web3 crowdlending platform that leverages real-world assets to obtain loans. The platform has reinvented peer-to-peer lending against physical assets, disrupting the pawnbroking industry. Collateral Network (COLT) accepts a range of borrower-owned physical assets as collateral, including jewelry, art, fine wines and real estate.
Once Collateral Network (COLT) has authenticated and valued the borrower’s physical asset, it stores it in its vaults. Once done, the platform mints an NFT backed 1:1 by the physical asset and then fractionalizes it in pieces. Lenders fund a loan by purchasing these fractional NFTs and receive a fixed-interest income every week.
Once borrowers settle their loan on Collateral Network (COLT), their asset is returned. But if they default, their collateralized assets are auctioned to recover the funds. Collateral Network (COLT) notes all contractual information in the NFT metadata.
Collateral Network (COLT) has been built by an experienced and doxxed team whose members are KYC-verified. Due to its multi-chain capabilities, the team has also planned to bridge COLT tokens onto other blockchains. Besides, the COLT tokens allotted to the team will be locked for two years.
Collateral Network (COLT) is considered the hottest investment option, promising its investors a 100x return over the upcoming months. Collateral Network (COLT) token holders will get many benefits, including discounts on borrowing and trading fees, governance rights and access to auctions. COLT tokens are currently available at $0.014, expected to soar to $0.35 during the presale.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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