This week has been a major milestone for the cryptocurrency space as Bitcoin´s (BTC) hash rate touched new highs, Collateral Network (COLT) surged in its presale, and Pepe (PEPE) eyes a $5 billion market cap. Of these events, the most notable was Collateral Network (COLT), managing to sell more than 120 million COLT tokens. Let’s take a detailed look at each of these exciting events.
Collateral Network (COLT)
Collateral Network (COLT) is a pioneering physical-asset-backed lending platform that is revolutionizing the world of peer-to-peer lending. Its presale recently began, with the initial price of COLT tokens set at just $0.01 each. Since then, COLTS’s value has jumped by 40% to $0.014, with expectations for it to climb to $0.35 before Collateral Network launches. Besides, COLT token buyers can currently benefit from a 40% deposit bonus.
Collateral Network is making waves as it becomes the first crowdlending platform to turn physical assets, used as collateral, into NFTs to unlock liquidity on the blockchain. These NFTs are fractionalized, so a lender can fund just a portion of a loan and get a weekly passive income in return.
Collateral Network utilizes smart contracts and automation to streamline the whole process, meaning banks and other financial institutions can’t quite match its speed and efficiency. It looks set to revolutionize the lending industry, currently estimated to be worth $4.5 trillion, in the same way Bitcoin (BTC) revolutionized digital payments.
COLT token holders benefit from access to auctions of distressed items (in case a borrowers default to repay the loan and interests), discounts on trading/borrowing fees, staking passive income, and governance rights.
Experts predict that Collateral Network (COLT) could transform the lending industry and foresee a 35X price surge before the token becomes publicly traded. Early investors have the opportunity to potentially earn significant returns as Collateral Network (COLT) launches and take on the trillion-dollar lending market.
Bitcoin (BTC)
Bitcoin has been making headlines all over the world as its hash rate touched new highs. The hash rate measures the computations done per second to mine Bitcoin. It’s a significant indicator of Bitcoin’s health, and it recently reached an unprecedented 439 exahashes per second (EH/s).
Global interest in Bitcoin mining has spread to various territories and regions, which is helping to decentralize the mining process. This geographic distribution is vital to the long-term success of the Bitcoin network, as it reduces the risk of a single entity or a small group of entities gaining excessive control over the blockchain.
However, the price of Bitcoin (BTC) isn’t reflecting the surge in its hash rate. After crossing $31,000 in April, Bitcoin (BTC) is now trading at around $27,300. Many analysts attribute this pullback to profit-taking after a prolonged bull run, as well as uncertainties due to recent volatility in the traditional markets.
Pepe (PEPE)
Within a short span of two weeks, Pepe has witnessed growth never seen before – going from a market capitalization of $0 to over $1.3 billion. The creators of Pepe proudly claim it to be the ‘ultimate meme coin,’ playfully suggesting that Pepe might soon outshine dog-themed meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
Market analysts predict that if Pepe maintains its momentum, it could soon achieve a market cap of $5 billion to match the same market cap as Shiba Inu (SHIB). However, with very little known about the Pepe creators and no clear utility for the coin, buying Pepe after such a sudden surge could be a risky move for investors.
Looking at the charts show that the $0.0000015 may act as support for Pepe (PEPE), which could offer a good buying opportunity to investors. However, a larger decline in market sentiment could bring Pepe (PEPE) crashing back down to $0.00000020.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
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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