Careful analysis of the past market performances of cryptocurrencies can help you select the best investment option. The growth projection of cryptocurrencies is also a crucial factor in determining the profitability of crypto investment. If any cryptocurrency ticks both boxes, you should consider investing.
Collateral Network (COLT) is one such project. It has already grown multifold during its ongoing presale phase, and is expected to surge 100x by the end of 2023. On the contrary, Monero (XMR) and Fantom (FTM) are struggling to find market support. In this article, we will focus on these three cryptocurrencies, and their growth prospects.
Monero Collaborates With Nym To Enhance Privacy
To sustain its growth in current uncertain market conditions, Monero has been forging new partnerships, and expanding its ecosystem. However, investors are not showing confidence in Monero. Consequently, Monero’s (XMR) price has plunged by 2% in the past 30 days. Monero is currently available to trade at $150.66.
In the latest event, Monero has joined hands with Nym’s mixnet, a platform that functions on open-source principles, and ensures decentralization. With this, Monero will help its community enjoy anonymity while making transactions. The partnership also aims to make the Monero ecosystem immune to cyber attacks.
Fantom Announces New Reward Scheme
To encourage development activity on its network, and attract new developers, Fantom has announced a reward scheme. Under this, Fantom will reward the projects that will contribute to the high usage of gas fees on its network. According to an official announcement by Fantom, eligible projects will be given 15% of the gas fees they produce.
This reward scheme is the part of “dApp Gas Monetization Program,” which the Fantom community passed earlier this year. But the price movement of Fantom is still a concern for investors. The trading price of Fantom (FTM) has plunged by 11% in the past week. At present, Fantom is changing hands at $0.32.
Collateral Network Impresses Whales During Presale
Collateral Network is the world’s first Web3 crowdlending platform that grants loans against physical assets. Bringing the credit market to Web3, Collateral Network mints NFTs against a wide range of non-traditional assets, like fine wines, and luxury cars. People can send their real-world assets to Collateral Network to take a loan.
After receiving assets, Collateral Network evaluates and verifies them using artificial intelligence. Following this, the platform mints NFTs against collateralized assets, which are sent to the company’s secured vaults. Borrowers can regain the physical possession of their collateralized assets after settling the loans.
These NFTs can be purchased by investors from an open marketplace to fund the loans, and earn a fixed weekly income. Collateral Network issues loans after receiving physical assets, and not against any future income assurances. The platform also sells distressed assets through private auctions to ensure that investors’ funds are recovered in case a borrower defaults.
At present, users can own a Collateral Network (COLT) token at $0.014, which was just $0.01 at the start of the presale. The market price of COLT tokens is predicted to rise by 3500% before the culmination of the presale round. Hence, whales are aggressively accumulating COLT tokens.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk