Cryptocurrency investors are always on the lookout for the next big thing in the market, and the buzz around Collateral Network’s (COLT) presale is hard to ignore. With predictions of 3500% growth, it’s no wonder why many are eager to get in on the ground floor. Meanwhile, established tokens like Solana (SOL) and Shiba Inu (SHIB) are struggling to gain momentum in a market that’s becoming increasingly competitive. In this article, we’ll dive into the potential of COLT and examine the current challenges faced by SOL and SHIB.
Collateral Network (COLT)
Collateral Network’s (COLT) presale has emerged as a hot investment option. The presale began at $0.01, and the market value of Collateral Network (COLT) tokens is expected to soar by 3500%, to $0.35, before the presale phase ends. The Collateral Network token (COLT) presale was an instant hit with crypto investors, raising over $200,000 in a whitelist sale in less than one week.
Collateral Network is built and operates on the Ethereum blockchain, allowing users to purchase their tokens on one of the most secure blockchains. They plan to list it on multiple centralized exchanges and the decentralized exchange Uniswap.
The creation of NFTs to symbolize the assets that serve as collateral is the true USP of Collateral Network. Due to the fractionalization of these NFTs, numerous lenders can participate and contribute to the required loan amount. The rigid structure of conventional financial institutions prevented many borrowers from accessing the loan market. Now, a fresh breed of borrowers and lenders that had previously been excluded can participate in the peer-to-peer loan industry thanks to the Collateral Network.
The complete lending procedure on Collateral Network is automated by smart contracts, and the native currency (COLT) is used to give both borrowers and lenders on Collateral Network access to liquidity. Additionally, investors of COLT tokens benefit from advantageous borrowing rates, lower costs, and staking rewards.
Solana
Solana (SOL) has been gaining significant attention lately due to its innovative features and potential use cases.
As of September 14, 2021, the price of Solana (SOL) was $155.42 with a market capitalization of $46.25 billion. Over the past year, SOL has skyrocketed in value, increasing by over 8000%. However, like many other cryptocurrencies, SOL has experienced significant volatility in recent months.
Solana has been struggling due to several issues throughout the year, among them security lapses and constant outages on their network. Most of these outages have been a result of misconfigured nodes, bugs in Solana’s code, and bot attacks from cybercriminals.
In addition, Solana fell deeper and harder than other cryptos due to its well-known relationship with billionaire Sam Bankman-Fried, the CEO of bankrupt FTX2.
Shiba Inu
After failing to overcome the regional resistance level, Shiba Inu (SHIB) has lately gone through an unexpected downturn. The token’s upward trend was abruptly stopped short by a sharp deviation from the neighborhood’s 200-day moving average, resulting in an 8.8% drop in value in just two days.
Investors may be concerned that this abrupt reversal could indicate that there isn’t enough demand for the commodity to maintain its upward trend. The failure to overcome the nearby resistance and the swift decline that followed might be signs of a short-term bearish trend that could result in further price declines.
Rapid reversals, like the one seen on Shiba Inu’s latest price movement, are usually an indication of a decline in investor trust or market sentiment. The market may have become more bearish in this instance, causing traders to liquidate their positions and take profits. The sudden decrease in the worth of the token may be primarily caused by this selling pressure.
Read more about the COLT presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
