Many people may be reserved when it comes to investing in the crypto market because of its volatility. But just like with any other situation, staying informed is key to making better decisions. Read on to find out Solana’s price prediction and why you should consider Shiba Inu (SHIB) and Collateral Network (COLT).
Solana (SOL) Price Prediction
Solana (SOL) has had an impressive price action in the first quarter of 2023. More specifically, its price doubled (an approximate increase of 104%) without any specific news or fundamentals that could have triggered the increase. Solana (SOL) recovered the lost ground from the FTX and Alameda Research bankruptcies at the end of 2022, which left SOL in oversold territory, so traders most likely rushed to buy the dip.
For the next months, Solana (SOL) could further increase thanks to multiple developments and upgrades. On the one hand, compressed NFTs have been announced to be implemented on Solana’s network. On the other hand, the most traded NFT collection on Solana is now migrating to Polygon, which will undoubtedly affect SOL’s price performance.
Solana’s price trajectory seems promising, but there may be a few hurdles down the road. Despite this, many expect SOL to finish this year with an average price of about $60, and reach about $225 by 2025.
Shiba Inu (SHIB) Expected to Rise as Updates Roll Out
While Shiba Inu (SHIB) has long been regarded as a dollar crypto without much utility, it has managed to create and maintain a dedicated community of Shiba Inu (SHIB) holders. Lately, Shiba Inu (SHIB)’s team has announced a series of updates that could boost its use cases, including the ShibaSwap DEX (decentralized exchange), which will allow SHIB holders to swap their Shiba Inu tokens for other tokens, providing liquidity to the system.
In addition to this, Shiba Inu partnered with OpenSea, which will help strengthen its position in the NFT market and get access to a new user base. Also, Ralph Lauren, the global fashion brand, has recently announced that it will accept payments in Shiba Inu (SHIB), which will further boost the popularity of the crypto coin.
Collateral Network (COLT) Is in the Spotlight
Collateral Network (COLT) is a crowdlending platform that allows everyday individuals to borrow funds using non-traditional assets, such as gold, diamonds, luxury watch, NFTs, and other goods. The platform mints NFTs that represent the physical asset of the borrower, which means that illiquid assets like vintage cars or artwork become liquid.
The platform allows individuals to become lenders, and they receive the borrowers’ interest payments in exchange. Also, the platform will allow users to trade their loan portfolios or stake the tokens for additional financial rewards.
Collateral Network’s proprietary token, COLT, is in the public presale stage, available at a discounted price of only $0.01. Analysts expect the token to increase its value by more than 3,500%, which is why it’s one of the most appealing investment opportunities.
Summary
Overall, there are many opportunities in the crypto market, but you should carefully consider your objectives and desired return. Solana (SOL) may have a bright future thanks to multiple developments around the corner, while Shiba Inu (SHIB) is working on expanding utility cases. Collateral Network (COLT) is one of the most successful presales of this year, providing great benefits to early token holders.
Read 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