In this article, we discuss how support for Arbitrum (ARB) appears to be waning, while WOO Network (WOO) experiences a remarkable rally. Meanwhile, Collateral Network (COLT) is gaining traction during its presale phase, attracting the attention of both seasoned and novice investors. Let’s jump into the details to see what’s behind this movement.
Collateral Network set to disrupt peer-to-peer lending
Collateral Network offers a groundbreaking asset-backed peer-to-peer lending platform that aims to shake up the massive $4.9 trillion industry by ingeniously employing blockchain and NFT technologies.
Collateral Network simplifies the borrowing process: borrowers use their valuable tangible assets — such as jewelry, watches, or artwork — as collateral. Collateral Network then generates an NFT representing the asset on the blockchain on a 1:1 basis and allows for fractionalization, so multiple investors can contribute to a single loan and earn interest.
Collateral Network’s innovative method encourages smaller investments, creates a more liquid marketplace, and presents competitive rates compared to conventional lending institutions. Plus, Collateral Network’s smart contracts handle all of the underlying transactions, providing increased security and transparency.
With COLT tokens currently priced at just $0.014 per token, those who participate in the Collateral Network (COLT) presale today could potentially see returns of up to 100X in the coming months.
Arbitrum experiences price decrease
While Ethereum has been the hub of smart contract activity, its network often gets congested, causing delays and higher costs for its users. Arbitrum is designed to provide a faster route for transactions to take place.
Having only debuted in April, Arbitrum has quickly amassed a staggering total value locked (TVL) exceeding $2.9 billion. This shows that Arbitrum has a real use case and is being adopted by many.
However, the price of Arbitrum appears to be waning. The price of Arbitrum (ARB) was $1.81 on April 18th, 2023 but has since dropped to $1.10 as of May 10th, 2023 — a significant decrease of 32% for some Arbitrum holders who ‘bought the top’.
With Arbitrum holders who received airdrops from the presale potentially exiting positions and taking profits, it could explain the recent decrease in price. Analysts note that the $1.00 level is a crucial support level for Arbitrum, while $1.30 will act as resistance when Arbitrum attempts to turn bullish again.
WOO Network woo’s investors with price rally
WOO Network’s DeFi protocol provides users with access to various decentralized finance applications and liquidity options while offering low-cost fees, fast transactions, and secure storage of funds.
WOO Network has seen a remarkable rally since the start of 2023. WOO Network (WOO) was priced at just $0.12 per token, then went on to rally to above $0.35 on April 19th, 2023. The WOO Network price has since corrected to a current price of $0.23 per token — still a considerable increase of 92% since January 1st, 2023.
WOO Network’s recent rally has been supported by its strong fundamentals and active development. In fact, WOO Network recorded a weekly trading volume of $196 million in the wake of WOOFi’s comprehensive integration with Stargate, which was facilitated by enhancements to its cross-chain swap capabilities.
Analysts note that the $0.20 price level is strong support for WOO Network, and any move above $0.35 could result in a larger move to $1.00.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
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