Long-standing cryptos like EOS (EOS) and Polkadot (DOT) have suffered losses in recent times, while a new project, Collateral Network (COLT), has traveled to new growth horizons. Collateral Network (COLT) is predicted to give 3500x returns to its investors this year.
In this article, we will analyze how the current market conditions are affecting cryptocurrencies’ growth prospects and market strategies.
EOS (EOS) Launches New Software Upgrade
Amid the ongoing market downfall, EOS has been on the run to launch new upgrades to retain its user base and attract new customers. Recently, EOS launched its Antelope Leap v4.0.0 upgrade, which is open-source software. EOS’ new upgrade will allow anyone to operate a node on the blockchain network.
A feOn FridayS also launched its Ethereum Virtual Machine to enhance interoperability between blockchain networks. Besides, EOS signed a $60-million strategic deal with DWF Labs to increase the adoption of its EVM. The growth trajectory of EOS has not been in an upward direction. The market price of EOS (EOS) has declined by 2% in the past week.
New Parachains Join Polkadot (DOT) Blockchain
According to the recent edition of Parachain Dispatch, the Polkadot ecosystem witnessed a significant expansion in March 2023. The data revealed that more than 20 parachains were added to the Polkadot ecosystem in March, including Astar Network and Ajuna Network.
The Polkadot community believes that the addition of new parachains can increase trade volume on the network, resulting in an increase in the price of DOT. However, the recent price movement of Polkadot has been downward. While the market value of Polkadot (DOT) has plummeted by 2% on the weekly chart, the network has plunged 8% on the monthly graph.
Subsequently, the trading price of Polkadot (DOT) has come down to $5.81. Meanwhile, the Cosmos blockchain has launched a decentralized cross-network bridge between Kusama and Polkadot networks.
Collateral Network (COLT) Makes A Big Impact On Market
Collateral Network (COLT) is a state-of-the-art crowdlending platform set to disrupt the lending industry, estimated to be worth $4.5 trillion. With its innovative approach to lending, it aims to open the industry to more people without the bureaucracy and obstacles of traditional banking and financial services.
The platform is the world´s first decentralized crowdlending platform that uses physical assets as collateral to unlock liquidity. Users can borrow and lend money on Web3 against tangible assets, including gold, diamond, watches, real estate, vintage cars, and more.
If you need a loan of $5,000, and you have a piece of fine art worth $10,000. You can use your fine art as collateral on Collateral Network’s cross-chain platform and borrow money at competitive interest rates. Collateral Network will use an AI-based mechanism to accurately value assets and verify them and generate algorithmic lending rates. After minting a fractional non-fungible token (NFT) against your fine art, Collateral Network will store your asset in its vault.
The NFT fractionalization allows multiple investors to buy as many NFT fractions as they wish, increasing the liquidity capacity for the loan. The platform allows you to get loans against assets within 24 hours without affecting your credit scores. Lenders on Collateral Network will earn a weekly passive interest, becoming their own mini banks.
COLT token holders will receive benefits while borrowing and lending on the platform, including discounts on trading/borrowing fees, access to auctions of distressed items, governance rights, and stacking passive income.
The presale round of Collateral Network is rising quickly during its first stage. The market value of Collateral Network (COLT) has already increased from $0.01 to $0.014 and is moving rapidly toward a 3500% rise in the next few weeks and a further 100x once it is listed in major exchanges. Furthermore, those who decide to buy COLT tokens now will benefit from a 40% bonus deposit. Since presale COLT investors will receive extra benefits, such as access to the VIP members club, its tokens are getting sold out fast.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
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