Diving deep into the blockchain space can play an essential role in determining what projects stand out compared to others and what cryptocurrencies can provide high returns for investors and traders.
Constructive analysis, price movements, and a project’s overall development and ecosystem growth can determine how far it can climb.
Collateral Network (COLT) is one of the most notable projects as of recently, where through its Stage 1 presale, it managed to capture the attention of numerous investors.
Today, we will compare it to the overall price movements and updates surrounding Filecoin (FIL) and Stellar (XLM).
Collateral Network (COLT)
Collateral Network (COLT) is a Peer-to-Peer (P2P) platform for lending that enables users and small and medium-sized enterprises (SMEs)the ability to borrow cryptocurrencies against physical assets that they already own through the use of blockchain technology.
Being built on top of Ethereum, Collateral Network (COLT) aims to leverage the possibilities of blockchain technology to disrupt the lending industry and bring it into a new, decentralized era by creating a lending protocol for real-world assets.
To get a better level of understanding as to how it works, imagine that you have an expensive collectible. This can be a figurine, watch, comic book, coin, statue, or anything else that has a value associated with it and is a physical asset.
For example, if this asset was worth $30,000, it could get sent to Collateral Network (COLT) and turned into a non-fungible token (NFT), which would then get fractionalized into smaller parts.
Collateral Network (COLT)’s team stores the asset in their vault and creates an NFT that represents the physical version of the asset, indicating that the NFT is 100% asset-backed.
Then, investors can lend smaller amounts of money for an agreed fixed rate of interest throughout a pre-defined time frame, a process the team refers to as fractional lending.
The borrower can repay the principal loan and interest and then redeem their asset from the vault, after which the NFT is minted.
There are also auctions, where distressed assets can get auctioned on Collateral Network (COLT) and allow investors to buy them below the market value when a borrower defaults on a loan.
COLT is the native cryptocurrency utilized across the broader ecosystem. By holding onto COLT, users can access reduced borrowing costs and price cuts on trading fees and engage in staking or governance procedures on the platform.
At the start of the Stage 1 presale, Collateral Network (COLT) is offered at $0.01. Analysts predict that its value can reach $0.35 by the end of 2023, indicating that it might increase by 3500%.
Collateral Network (COLT) provides investors and traders with the unique opportunity of jumping into a project that can assert itself as an industry leader and can disrupt the lending industry.
The team tokens will also be locked for two years, while the liquidity pool will be locked for 33 years. Only 36% of the total supply is available at the Collateral Network (COLT) presale, and the smart contract for the token has been fully audited.
Stellar (XLM)
On March 23, 2023, Stellar published an article detailing what building on Soroban is like, its new smart contracts platform.
The Stellar Community Fund accepts project proposals, where teams could receive up to $150,000 worth of XLM in rewards. Three teams that created Sorobix, Chaincerts, and UseSoroban.app stood out.
On March 27, 2023, the Stellar (XLM) cryptocurrency traded at $0.093426. Throughout the day, Stellar (XLM) grew by 1.6%; however, in the last 14 days, it grew 12.6%. Throughout the week, Stellar (XLM) grew by 6.1%, indicating a solid pattern for the cryptocurrency.
While this value is far from it’s all-time high of $0.875563 on March 27, 2023, Stellar (XLM) still showcases some signs of growth. Analysts predict that the furthest XLM can grow by the end of April is at $0.1, a growth of 11.1%.
While investors might find value in XLM, those who want to experience a growth of 35x typically look at presale projects.
Filecoin (FIL)
Earlier in March, Filecoin (FIL) announced the launch of the Filecoin Virtual Machine (FVM).
The blockchain gained support for smart contracts and user programmability and further unlocked the potential of an open-data economy.
When we go over the value of the Filecoin (FIL) cryptocurrency, it was trading at $5.45 as of March 27, 2023. In the last seven days, the cryptocurrency decreased in value by 14%, and in the last 30 days, it decreased by 20.4%.
Its all-time high was on April 1, 2021, at $236.84, indicating it is now trading 97.68% under that value.
With this bearish outlook, Filecoin (FIL) can potentially dip under the $5 price point, which has left investors worried and looking at alternative, newer tokens to diversify their portfolios.
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