The crypto market is dropping just like the temperature of a bearish winter, and the NFT space has been no exception. Metaverse tokens like Gala (GALA) and Aave (AAVE) have seen significant losses in their value amid the FTX crash. There’s no question why investors are shifting their focus to a much more powerful, one-of-a-kind NFT use case project, Collateral Network (COLT), especially with a token price of only $0.01.
Gala (GALA) countdown has begun
GALA, the crypto token for the play-to-earn blockchain-based gaming platform Gala (GALA), is down at the time of writing. As well as this, the trading volume of Gala (GALA) is down also.
Currently trading at $0.04675, Gala (GALA) is down from its all-time high of $0.8367, as recorded on November 26, 2021. Gala (GALA), which aims to provide more control over the game and in-game assets to the players, is unable to meet the users’ expectations.
Gala (GALA) is surrounded by the words “rug” and “hack,” which even worsens the situation. The Gala (GALA) team had announced on their Twitter handle to dispel the rumors around their token, GALA, but before that, fear of the hack caused Gala (GALA) to fall by 25.6% in a day, which is yet to recover. Gala (GALA) is showing slight momentum, but investors have to wait a long time if they wish to regain their losses.
The craze for Aave (AAVE) is diminishing
When it comes to the “Lending and Borrowing” space, Aave (AAVE) used to be the king. But, as new projects have entered the market, which simplify the process of getting a loan while providing multiple benefits, the need for old platforms like Aave (AAVE) has decreased.
Aave (AAVE) has witnessed a sharp decline in its value with a slowly decreasing trading volume in the past year. At the time of writing, Aave (AAVE) is trading at $89.34, with a 24-hour trading volume of more than $105 million.
Aave (AAVE) recorded its all-time high of $666.86 on May 18, 2021. The only reason for the sustainability of Aave (AAVE) in the crypto market is its former glory. Some people believe that old is gold and prefer to stick with Aave (AAVE), whereas others prefer to expand with new potential projects such as Collateral Network (COLT).
Collateral Network (COLT) to jump by 35x in 2023
Collateral Network (COLT) is the world’s first blockchain-backed crowdlending platform that enables users to take loans backed by physical assets in the form of NFTs (non-fungible tokens).
With Collateral Network (COLT), a user can take a loan from multiple investors by fractionalizing the NFT, backed 1-to-1 by a real-world physical property, at competitive rates with flexible terms and conditions.
Amazingly, Collateral Network (COLT) investors can get 1 COLT token for only $0.01 in its ongoing presale campaign. Collateral Network (COLT) is forecasted to jump by 35x in the next six months, as predicted by experts.
Collateral Network (COLT) has fully audited smart contracts with locked pool liquidity for 33 years that are meant to be built for long-term victory. Moreover, with Collateral Network (COLT), lenders will receive a fixed weekly income from the platform depending upon the agreed rate of interest while giving the loan.
Find out more about the Collateral Network presale here: