This week, Ankr (ANKR) announced a partnership with Microsoft, Collateral Network (COLT) saw a significant pump during its presale, and Bitcoin (BTC) holders caused the asset’s price to dip. Let’s take a closer look at these three newsworthy cryptocurrencies.
Collateral Network (COLT)
Have you ever needed financial assistance but found the traditional bank loan process tedious and frustrating? With the advent of Collateral Network, borrowers and lenders can now connect on a peer-to-peer crowdlending platform that simplifies the loan application process.
What sets Collateral Network apart from other lending platforms is its innovative use of fractionalized non-fungible tokens (F-NFTs) as collateral.
Let’s say you own a valuable painting worth $20,000 and want to purchase a new car. Instead of going through the traditional route of securing a loan using a credit score or other assets as collateral, you can use Collateral Network (COLT) to create an F-NFT of this painting, which is then used as collateral for a loan.
This fractionalization of collateral on Collateral Network opens up opportunities for smaller investors to participate in the lending process and earn a return on their investment. For borrowers, Collateral Network means quick access to loans with less paperwork and potentially lower interest rates.
Collateral Network also has a utility token, COLT, which facilitates all transactions on the tokens platform. During the Collateral Network presale, COLT saw huge interest, with more than $440,000 pledged in return for discounted COLT tokens.
Ankr (ANKR)
Ankr will provide enterprise node services to Microsoft customers, allowing them to easily deploy and manage distributed applications on the Ankr (ANKR) platform. Here are some of the key features of Ankr:-
- Decentralized Cloud Computing: Ankr provides a decentralized infrastructure for developers to build and deploy dApps.
- Pay-As-You-Go Model: Ankr’s pay-as-you-go model eliminates the need for expensive infrastructure investments.
- Proof of Useful Work (PoUW): Ankr’s unique consensus mechanism incentivizes users to contribute their computing resources to the network in exchange for rewards.
- Integration with Existing Cloud Providers: Ankr can integrate with existing cloud providers, such as AWS, Google Cloud, and Azure, to provide developers with more options for building and deploying their dApps.
The partnership stands as a notable validation for Ankr, emphasizing the project’s high regard in the sector. Furthermore, it has greatly benefited the coin’s price, which is now, at the time of writing, worth $0.032 per token after surging over 100% since the beginning of 2023.
Bitcoin (BTC)
Bitcoin is the world’s first and most well-known cryptocurrency, with a current market cap of over $400 billion USD. Over the past few years, Bitcoin (BTC)’s price movements have been the subject of much attention and speculation.
Bitcoin started the year at under $16,000 – the lowest point for several months. BTC then went on a mini bull run, pumping to a recent peak of $29,200. Its holders were turbulent, believing that Bitcoin would soon hit the $35,000 level.
However, Bitcoin has begun to slowly slip lower this week, with Bitcoin now trying to stay above $27,500. This Bitcoin dip has been met with mixed reactions from traders and investors, but it is important to remember that this is still only the beginning of 2023. There are still many opportunities for BTC) holders to benefit from.
