After a tumultuous historical movement, analysts are reluctant to give their trust in Avalanche (AVAX) yet again. Instead, they’re choosing to turn to a new blockchain project that aims to bring the pawnbroking deal into the blockchain world. With a prediction of growing by 3,500% and returning big profits to its investors, many are opting for this new platform.
If you want to know more about this new project, as well as what’s in store for Avalanche (AVAX), keep reading the article below.
What Is Avalanche (AVAX)?
First shown to the market in 2020, Avalanche is a blockchain platform that uses AVAX as its native coin. Just like Solana, Avalanche (AVAX) uses smart contracts and is deemed the fastest smart contract platform in the overall blockchain industry.
Based on the PoS (Proof-of-Stake) method, Avalanche (AVAX) aims to achieve high transaction output. And for that, it uses its own Snow consensus protocol. Mainly, this protocol balances transaction speed, network capacity, decentralization, energy efficiency, and security.
Avalanche (AVAX) has a complete supply of 720 million coins, out of which around 325 million are already in circulation.
Avalanche (AVAX) Price History & Predictions
At the time of writing, Avalanche (AVAX) is ranked #16 on CoinMarketCap. Its current price is $17.25—an increase of 2.34% in the last 24 hours. However, considering this coin’s history, this is hardly an upside.
Namely, when it appeared in 2020, Avalanche (AVAX) was valued at around $5. With time, this digital asset managed to reach an astounding $146.22 (November 2021) and close the year at $109.27. Despite the good year, 2022 came and was followed by a downfall for the AVAX token. The crash of FTX at the end of 2022 and the Silvergate bank in 2023 brought this coin to its knees—worth around $13.94. This showed an annual loss of over 90%.
However, seeing that the coin overcame two significant milestones, some analysts believe it could still return. Heavily relying on it’s so-far bearish movements, analysts say that the fall could prompt investors back and thus potentially increase the coin’s value to around $18. Backing this up are its partnerships with giants such as Tencent Cloud.
Avalanche (AVAX) or Collateral Network (COLT)?
Despite these predictions, many are reluctant to revisit Avalanche (AVAX), especially with so many new and promising projects on the horizon. One such platform that is garnering more attention is Collateral Network (COLT)—and for a reason.
Collateral Network (COLT) is a decentralized peer-to-peer lending platform. More precisely, Collateral Network (COLT) aims to decentralize the old pawnbroking method by allowing users to borrow against some valuable assets like watches and cars. In return, Collateral Network (COLT) mints an NFT, and by using fractional lending, it gathers small amounts of money from multiple investors to fund the loan.
Therefore, Collateral Network enables borrowers to access funds quickly and easily without the tedious processes associated with traditional banking. As for lenders on Collateral Network, they can earn passive income from their low-risk investments on the COLT platform.
Currently, Collateral Network (COLT) is in presale and each token sells for $0.014. All who purchase Collateral Network (COLT) in the presale stage get exclusive offers like a VIP membership. The total supply of Collateral Network (COLT) is $1.4 billion, but only 38% will be released at the presale stages.
Wrap Up
Having in mind the high percentage of investment return predicted by analysts, Collateral Network (COLT) could quickly become one of the top cryptos. With a predicted launch price of $0.0511 and an expected 100x surge when it fully enters the market, Collateral Network (COLT) is worth tracking.
If you want to learn more about the Collateral Network presale, check these links:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
