Collateral Network (COLT), a decentralized finance (DeFi) platform, has started its presale phase, allowing early investors to purchase tokens at a discounted rate. At the same time, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are struggling to gain momentum in the market.
Collateral Network (COLT)
Collateral Network (COLT) provides a revolutionary solution to the age-old problem of obtaining capital. In the past, securing a loan often meant jumping through numerous hoops and providing extensive documentation, which could take weeks or even months to process. However, with Collateral Network (COLT), the process has never been easier.
All you need to obtain capital from Collateral Network (COLT) is a physical asset that is valued higher than the amount you are borrowing. Once you provide this asset, Collateral Network (COLT) will mint a fractionalized NFT that is directly tied to the asset you provided.
Collateral Network (COLT)’s fractionalization process means that the asset is divided into multiple smaller units, which can be sold individually to lenders. As such, borrowers on Collateral Network (COLT) can access funds in just 24 hours, while lenders gain access to a wide range of assets to lend against.
The COLT token plays a vital role in the Collateral Network (COLT) ecosystem. The token is used to pay fees, reward lenders and borrowers for their activity on the platform, and enable users to vote on governance decisions.
Collateral Network (COLT) has now entered its presale stage, with over $440,000 already pledged. With COLT discounted during this phase before it hits the exchanges, it’s an obvious play for investors looking to capitalize on the movements of Bitcoin (BTC) and Ethereum (ETH).
As the first-ever decentralized digital currency, Bitcoin (BTC) has secured its position as the leading cryptocurrency, boasting a market cap exceeding $400 billion.
However, Bitcoin (BTC)’s significance extends beyond just being a digital currency. Bitcoin (BTC) also serves as a store of value and has become a popular means for investors to hedge against inflation. Consequently, many individuals are incorporating Bitcoin (BTC) into their investment portfolios, using it as a diversification tool to safeguard their wealth amidst economic fluctuations.
2023 has been a great year for Bitcoin (BTC) so far, with a pump from $15,600 to over $29,000 in the first few months of the year. However, Bitcoin (BTC) is struggling to stay above $28,000 for any sustained period, with a series of dips on the 4-hour chart.
It remains to be seen whether Bitcoin (BTC) can break out of its current range and continue its surge higher or if we are entering a period of consolidation.
Ethereum (ETH) is the second-largest cryptocurrency by market capitalization and is often referred to as the “king of smart contracts” due to its widespread adoption in the decentralized finance space.
Ethereum (ETH) has seen a significant increase in popularity over the years, with thousands of decentralized applications (dApps) being built on the Ethereum (ETH) blockchain. As a result, demand for Ethereum (ETH) has soared, with its price increasing from $114 in January 2020 to over $1,780 at the time of writing.
Despite this impressive performance, Ethereum (ETH) is struggling to stay above $1,700 for any sustained period. With bank runs, crypto lenders collapsing, and high volatility in the markets, it’s unknown whether Ethereum (ETH) can reclaim the $1,800 level in the near future.
As such, some Ethereum (ETH) holders are now turning to Collateral Network (COLT) as an alternative means of capitalizing on their Ethereum (ETH) holdings.
Find out more about the Collateral Network presale here: