Over the last five days, Cardano and Ethereum have started to recover after recent price crashes triggered by new SEC regulations. Both projects have rapidly growing ecosystems and have the potential to surge in value in 2023. But which will perform better?
Some experts predict that Cardano will outperform Ethereum, though given the latest Ethereum surge, not everyone is convinced. Either way, Collateral Network looks to outperform both projects and has recently hit a new all-time high.
Cardano Starts To Recover After New SEC Categorization
The SEC’s decision to class Cardano as a security has been a big blow to the project. Its value crashed by over 30% just days after the announcement, causing many investors to sell their Cardano holdings.
However, Cardano is now recovering and has increased in price by 12.43%. In the last 24 hours, Cardano has passed $0.3 and is now trading at $0.3015, which has triggered an influx in trading volume.
While it’s difficult to predict how this new security categorization will impact Cardano, it’s very likely that Caradano’s growth will slow down. This could damage its ecosystem in the U.S. market, forcing Cardano to diversify worldwide to reach its full potential. However, due to this uncertainty, Cardano will unlikely beat Ethereum in 2023.
Ethereum Trading Volume Hits $12 Billion
Ethereum is one of the first projects to fully recover from the recent SEC lawsuits. In the last 30 days, Ethereum’s value has increased by 2.77%, with a 9.59% surge over the last five days alone.
At the time of writing, Ethereum was trading at $1,910, and its daily trading volume had spiked by 31% to $12 billion. This huge surge has been triggered by a general market increase, in which Bitcoin has reached $30k.
Ethereum could easily hit $2,000 by the end of June if its growth continues, potentially breaking the $2,100 price barrier in July. This is a huge win for Ethereum holders, thousands of which have staked their Ethereum following the recent Shanghai Upgrade.
Collateral Network Presale Booms Amid Market Recovery
As the cryptocurrency market starts to recover, the demand for decentralized solutions has never been higher. This is great news for Collateral Network, which looks to disrupt the crowdlending market with its decentralized asset marketplace.
Collateral Network provides an alternative solution for individuals trying to unlock cash from their high-value physical assets. Rather than selling the asset, DeFi users can take a loan against it. Using the Collateral Network platform, this can be done by minting the asset as an NFT and selling NFT fractions to investors.
Investors then lend cryptocurrency to fund the loan, generating a passive income from a fixed interest rate. Once the loan is funded, borrowers can receive cash in just 24 hours.
This lucrative new solution has created excitement throughout the crowdlending market, with borrowers and lenders tired of outdated, long-winded solutions.
FOMO is building around Collateral Network’s native COLT token, which is now trading at $0.0277, a 177% price increase from its starting value. COLT is predicted to hit $0.35 during its presale, with some experts suggesting its value could increase another 100x once COLT is listed on mainstream exchanges.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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