The FTX (FTT) scandal caused havoc throughout the cryptocurrency market, attracting bad publicity and causing investors to lose millions. While a new team attempts to relaunch the exchange, the rumors of a reopening caused a spike in the price of FTX (FTT) before its value gradually declined. So what could a reopening mean for Uniswap (UNI) and Collateral Network (COLT)?
FTX (FTT) Price Spike Followed By Slow Decline
On April 12, rumors caused the value of FTX (FTT) to spike to $2.56, almost doubling its previous value of $1.32. This caused on-chain activity to spike exponentially, with 879 new addresses being created in just two days. Additional rumors now suggest that FTX (FTT) has managed to recover over $7.3 billion in cash and liquid crypto assets, which could potentially turn the project around.
While this is huge news for token holders and individuals who formally held assets on the FTX (FTT) exchange, not everyone is confident. Many analysts are still bearish toward FTX (FTT), and the tokens value has dropped by 18.64% in the last five days alone.
Despite this decrease, the value of FTX (FTT) is 20% higher than its price just one month before, which suggests we could see an FTX (FTT) revival in 2023.
Uniswap (UNI) Price Slips 10% In The Third Week Of April
Over the past week, the value of Uniswap (UNI) had dropped from over $6 to $5.33. This decline has triggered a crash in trading volume, with many investors selling their Uniswap (UNI) tokens to buy better-performing cryptocurrencies. The decrease has been linked to Bitcoin (BTC) falling below $30k, thus triggering a decline in Uniswap (UNI) trading.
Given that Uniswap (UNI) is a decentralized exchange, some investors also believe that the growing influence of regulation could further impact its price. Although Uniswap (UNI) continues to offer a number of great decentralized options, exchanges such as Kraken have already been fined by the SEC.
As a result, Uniswap (UNI) could attract unwanted attention from regulators, which would significantly influence Uniswap (UNI) operations and the Uniswap (UNI) token value.
Collateral Network (COLT) Could Revolutionize Crowdlending
While FTX (FTT) rumors flood the crypto market, Collateral Network has been gaining traction with market experts. The project has already increased in value by 40% and is on track for further growth as its presale is selling out.
Collateral Network (COLT) is the world’s first DeFi project that lets individuals unlock liquidity from their real-world alternatives assets on the blockchain. Instead of selling the asset forever, individuals can take a short-term loan against them to unlock liquidity.
Collateral Network solves many of the issues associated with the $trillion traditional lending sector, offering affordable rates and a seamless borrowing experience.
Borrowers can receive cash within 24 hours, and loans never impact their credit file. With borderless transactions, individuals can also borrow and lend worldwide without worrying about exchange rates or complex fees.
Colt tokens are selling fast with only 38% of the total tokens available to purchase. With demand far outstripping supply predictions anticipate the price going as high as $0.35 in the next six months. Current price is $0.014 so there is a lot of upside potential in getting involved in the project now.
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