Proving its high market worth, Collateral Network has raised over $400k in the first few weeks of its presale, which is selling quickly as whales have already accumulated a large number of tokens. Since holders of sinking Elrond (EGLD) and TRON (TRX) are also jumping ships, Collateral Network (COLT) is set to grow 35x in the coming months.
Elrond (EGLD) launches 4 new products in Q1
2023 has given some breathing space to cryptocurrencies, and Elrond (EGLD) has planned to utilize it. Elrond, which is now called MultiversX, has rolled out four new projects in the first quarter of the year. Elrond launched xPortal, MultiversX Explorer, MultiversX Wallet, and MultiversX Bridge between January and March.
Although Elrond aims to increase its ecosystem with these developments, its total value locked (TVL) has declined by 6% since the beginning of 2023. The number of daily active addresses on the Elrond (EGLD) network has also fallen during this period. Consequently, the price of Elrond has declined by over 4% in the last week and is currently standing at $41.71. Moreover, investors are jittery about Elrond’s (EGLD) future as it is still down by 92% from its peak price of $542.58.
TRON (TRX) enters a Caribbean country
Although the TRON community boasts about its global partnerships, the network has failed to convert these positive sentiments into price increments. The price of TRON (TRX) is down by 3% on the monthly chart. TRON is now changing hands at $0.0656. To increase the adoption of its network, TRON has recently associated with a Caribbean Island nation, Dominica. TRON has been increasing its global footprint for the past many months, and its entry into Dominica is the latest development.
Under this partnership, TRON (TRX) will help assist the government of Dominica in launching its Dominica Metaverse Bound Token (DMBT). However, investors are willing to wait for the next few months to see the impact of these developments before investing in TRON.
Collateral Network (COLT) sees oversubscription of its presale tokens
Collateral Network has become a boon for those who want to take a loan against real-world assets, which traditional banks do not accept. Collateral Network (COLT) is a pioneer in the Web3-based crowdlending industry, allowing users to take loans against physical assets. The platform creates non-fungible tokens (NFTs) instead of tangible assets that borrowers own that are then fractionalized into smaller pieces.
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On Collateral Network, borrowers get loans at competitive rates, and lenders can help fund loans in smaller amounts to earn fixed weekly income and other benefits. The USP of a Collateral Network (COLT) is that it keeps the assets safe in its vaults and returns them to their rightful owners after the settlement of loans. Besides, users are not asked for their proof of income or credit history on Collateral Network before granting loans.
COLT will be the native crypto for the platform, and holders can unlock many benefits like monthly income by staking their tokens. Only presale COLT tokens provide access to the privileged VIP Members Club.
Collateral Network’s presale has kicked off at $0.01 but has already risen to $0.014, while its COLT tokens are expected to surge by 3500% in the upcoming months.
Find out more about the Collateral Network presale here:-
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
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