The meme coin market is one of the most exciting in the DeFi space. It’s attracted the attention of investors worldwide, with projects like Dogecoin (DOGE) making mainstream media headlines. While Dogecoin and Apecoin (APE) look to become meme coin market leaders, Collateral Network (COLT) has surged during its presale, outperforming both in the past few weeks.
ApeCoin (APE) Upbit Surge Causes Confusion
ApeCoin has quickly become a leading meme coin, building on the hype of the Bored Ape Yacht Club (BAYC) NFT collection. As one of the most highly anticipated meme coins in the market, Apecoin consistently passes $50 million a day in trading volume.
However, a recent glitch on the South Korean exchange, Upbit, caused the value of ApeCoin to rocket. The technical fault caused the value of ApeCoin (APE) to hit $90 at a time when it was valued at $4.50 on most other exchanges. This triggered an influx of transactions, with over four million transactions made in just a few hours.
The issue was quickly solved by Upbit, and ApeCoin transactions have since declined. However, ApeCoin has also been affected by market trends. In the last five days, ApeCoin’s (APE) value has increased by just 0.75%, while other projects, such as Bitcoin (BTC), have seen surges of over 6%, which has caused trading volume to decline further.
Dogecoin (DOGE) Turbulence Causes Trading Volume To Halve
Dogecoin has been one of the crypto markets’ most turbulent projects over the past two weeks. After daily trading volume jumped to over $2 billion and Dogecoin (DOGE) increased to $0.081, its value crashed to $0.077 in just 24 hours. Although Dogecoin has since bounced back to $0.08, it’s still down by 0.30% in the last five days.
This turbulence triggered a decline in trading volume to just $328 million on the 28th of April. At the same time, crypto whales are moving Dogecoin around, with a transaction of 215,370,734 DOGE being made on the same day. This has many analysts predicting Dogecoin will decline at the start of May as investors are pushed away by its turbulence.
Will Collateral Network (COLT) Outperform The Meme Coin Market?
Much like meme coins, Collateral Network is designed as a market disruptor. Collateral Network uses DeFi technology to reinvent peer-to-peer lending. Instead of pawning an asset, borrowers can bring their assets on-chain and mint them as NFTs to unlock liquidity.
Each NFT is backed 1 to 1 by the borrower’s physical asset and is fractionalized to allow for a streamlined borrowing process. Once minted, lenders can buy NFT fractions to generate a passive income with a fixed interest rate. To maximize the number of investors who get involved, Collateral Network allows for cross blockchain loans, thus limiting the barriers to entry.
Collateral Network’s innovative approach offers a number of benefits for both borrowers and lenders. Borrowers can quickly unlock funds in just 24 hours, while lenders can generate a passive income, operating like their own bank. Additionally, due to high levels of security and confidentiality, borrowers will never impact their credit rating when taking a loan against their assets.
Investors’ confidence increases daily. Collateral Network solidifies its place in the market and has passed an Interfi Network audit, KYC, has a doxxed team and locked liquidity for 33 years.
Since its presale started, Collateral Network (COLT) has increased in price by 40%, with one token selling for $0.014 during its presale. Given its potential and great utility, market experts believe COLT tokens will increase to $0.35 before the presale ends, offering a huge ROI of 3500% for bullish investors.
If you are looking to benefit from COLT’s predicted rise from $0.014, check out the links below to find out how you can benefit from a 40% purchase bonus:
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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