As Polygon (MATIC) navigates the tumultuous waters of the crypto market due to its intertwined relationship with Ethereum (ETH), a new contender is ready to outshine them — Collateral Network (COLT).
With a striking gain of over 40% in the past few weeks, Collateral Network is transforming the $4.9 trillion asset-backed lending market and momentum is growing.
Comparing Polygon and Ethereum Price Performance
It is clear that Ethereum and Polygon share a close relationship, with the layer-2 powerhouse designed to solve some of Ethereum’s most pressing issues — high gas fees and scalability.
On paper, the synergistic relationship between the two projects should have implications for their price performance. While Ethereum does well in attracting legacy financial institutions toward decentralized solutions, Polygon allows them to transcend Ethereum’s blockchain limitations. But what do the charts say?
To give you an idea, Bitcoin (BTC) showcased an impressive performance in the first quarter of 2023, recording over 70% profit following its surge from $16,500 to $28,500. Within the same timeframe, Ethereum displayed 55% profit, escalating from $1,190 to $1,847.
In contrast, Polygon experienced a 51% increase in its value, leaping from $0.7477 to $1.1235 in Q1 2023. From these performances, it’s evident that BTC managed to outdo the alternative cryptocurrencies. However, Ethereum succeeded in achieving 4% more profit compared to Polygon during the same period.
This is a strikingly similar price performance that highlights the complementary relationship between Ethereum and Polygon. The gains are a testament to how these two cryptocurrencies have been able to leverage each other’s strength for mutual benefit.
Collateral Network set to surpass existing altcoins
While the top altcoins post modest gains, Collateral Network is set to pass all of them with a 40% gain in the past few weeks. Analysts note that this move is just the beginning for Collateral Network and predict that it will pump by more than 3500% this year.
Collateral Network is a new lending platform powered by blockchain technology. It offers a unique solution by allowing borrowers to access funding by using digital NFTs (non-fungible tokens) as loan collateral.
These digital tokens represent the value of physical assets, whether that’s luxury watches, high-end cars, or fine art.
By offering an alternative to banks and financial institutions, Collateral Network has created a new way for those with poor credit scores to access credit.
The platform provides a quick turnaround time, with funds typically received within 24 hours. By fractionalizing collateral, multiple lenders can contribute to loans that are backed by one asset.
The opportunity that lies within the massive $4.9 trillion lending industry is substantial. If Collateral Network (COLT) were to scratch the surface by capturing a mere 0.1% of this market, the valuation could soar into the billions. Given this potential, the current price of $0.014 is expected to rise to $0.35 within 2023 and exceed $1.00 over the next two years.
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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