The world of cryptocurrency has been buzzing with exciting news about Collateral Network (COLT) blasting past Elrond (EGLD) and Dogecoin (DOGE) with massive presale growth. This remarkable achievement has brought Collateral Network (COLT) into the limelight, showcasing its potential as a revolutionary crowdlending platform.
Elrond (EGLD) – A Struggling Cryptocurrency With Little Hope
Elrond (EGLD), once a promising player in the crypto space, has been struggling to make a name for itself in the highly competitive market. Despite Elrond (EGLD) rebranding to MultiversX, and introducing three new metaverse-forward products, the Elrond (EGLD) project’s lackluster performance may not be salvageable.
One of the Elrond (EGLD) main selling points was its ability to support 15,000 transactions per second with a latency of only six seconds, and a transaction cost of $0.001. However, this has not translated into success, with Elrond (EGLD) losing more than 92% of its value from its all-time high of $490 in November. In the past year alone, Elrond (EGLD) has lost 82% of its value, indicating its poor performance and struggle to compete with other cryptocurrencies.
Dogecoin (DOGE) – A Hyped-Up Cryptocurrency with Little Substance
Dogecoin (DOGE) has been the talk of the town in the crypto world, due to the hype created by Elon Musk’s tweets. However, the recent struggles of Dogecoin (DOGE) cannot be ignored. The tweets by Elon Musk may have boosted the value of Dogecoin (DOGE) for a while, but the fact remains that the cryptocurrency is not showing any significant growth or development.
While Dogecoin (DOGE) was trading at its all-time high of $0.69 in May 2021, the Dogecoin (DOGE) token has since dropped to approximately $0.08, a loss of more than 90%. Recently, Jeffrey Phillips, who seems to be a critic of Musk, rebuked him for making a joke about the disabled employee, raising questions about the sustainability of the hype around Dogecoin (DOGE).
Collateral Network (COLT) Empowers Investors To Become Fractional Lenders
Collateral Network (COLT) has brought an ingenious platform in the Web3 world that caters to the credit market. Collateral Network (COLT) is a blockchain-based aggregator reinventing peer-to-peer lending, and disrupting the pawnbroking industry.
Collateral Network (COLT) uses cutting-edge technology to make the platform user-friendly, and follows a simple business process. Let’s understand it this way: If you are in need of some cash and own a piece of fine art worth $10,000, you can simply send that valuable physical asset to the team of Collateral Network (COLT) to be used as collateral. After receiving the artwork, Collateral Network (COLT) will create valuation of the asset using artificial intelligence.
Collateral Network (COLT) will then mint fractional NFTs against your artwork. Lenders buy these NFTs at a fixed rate of interest set by them and yield a fixed income every week. Collateral Network (COLT) stores your tangible asset in its vault safely, until the repayment of the loan. Besides, the services of Collateral Network (COLT) are accessible from any part of the world.
COLT, built on the Ethereum blockchain, is the native crypto of the network, powering its ecosystem. The price of tokens was set at $0.01 during the beta stage of the presale, and increased to $0.014 in stage 1. Market analysts are confident that the COLT tokens’ market price will soar by 3500% to $0.35 before the end of the presale round.
In conclusion, while Elrond (EGLD) and Dogecoin (DOGE) have been struggling in the market, Collateral Network (COLT) has been gaining ground with its unique value proposition. With its revolutionary crowdlending platform, Collateral Network (COLT) offers investors a low-cost and secure way to participate in the credit industry. As the blockchain market continues to evolve, Collateral Network (COLT) is definitely one to watch out for.
Find out more about the Collateral Network presale here:
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