Neo (NEO) and Ripple (XRP) holders are in a state of worry as their currencies’ values continue to decline. Meanwhile, a new player in the cryptocurrency market, Collateral Network (COLT), is gaining momentum during phase 1 of the public presale ahead of forecasted 3500% gains according to market analysts. Let’s inspect what these coins are offering.
Neo (NEO)
Neo (NEO) is a decentralized open-source blockchain platform founded in 2014. Neo (NEO) aims to create a “Smart Economy” by utilizing digital assets, smart contracts and digital identities. Neo (NEO) also has its own native tokens called GAS and NEO which can be used to pay for transaction fees on the Neo (NEO) network.
Neo (NEO) got off to a great start, but the hype has been slowly fading away due to the platform’s slow development. The lack of real-world applications and use cases has resulted in a decline in the Neo (NEO) value, making many NEO holders worried about their investments.
NEO is down 4.74% since hitting an all-time high of $196.85 back in 2018. This means that some people who bought Neo (NEO) five years ago are still sitting on large losses. Holders may be hoping for a rebound, but many analysts fear that Neo (NEO) is beyond recovery.
Ripple (XRP)
Ripple (XRP) is a blockchain-based platform designed to facilitate fast, secure and low-cost money transfers. In fact, Ripple (XRP) can process transactions up to 1,500 times faster than Bitcoin (BTC).
Ripple (XRP) has been on a roller coaster ride since its launch in 2012. The Ripple (XRP) coin hit an all-time high of $3.84 in 2018 and then plummeted to as low as $0.15 in 2020. Ripple (XRP) started a resurgence during the 2021 bull run but has been held back by the SEC lawsuit.
XRP holders have been worried about the future of the coin and its value. With the ongoing legal battles, it’s hard to predict when or if Ripple (XRP) will ever go back to its former glory days. Many analysts believe that until the lawsuit is resolved, Ripple (XRP) will remain in a state of uncertainty.
Collateral Network (COLT)
Collateral Network (COLT) is a blockchain-based lending platform that allows anyone to borrow money using their assets as collateral. The real USP lies in the NFTs that represent assets of real-world value, such as watches, rare wine and artwork.
These special NFTs make the borrowing process more efficient and secure compared to traditional methods. Unlike traditional lending, Collateral Network (COLT) eliminates the need for an intermediary by connecting borrowers and lenders directly on the blockchain.
This new system is great for lenders too, as the assets can be fractionalized into small parts, meaning more than one lender can provide loans for the same asset. This means that less wealthy individuals can also participate in the lending process and earn rewards through Collateral Network (COLT).
Alongside the chance to profit from weekly interest payments, anyone on the Collateral Network (COLT) platform can benefit from holding the Collateral Network (COLT) token. The COLT token is designed to be used as a medium of exchange but also provides staking rewards, discounts on marketplace trading, governance voting and more.
As the lending platform continues to gain traction, Collateral Network (COLT) will likely become the go-to destination for those looking to lend or borrow comfortably and securely. The first phase of the Collateral Network (COLT) presale is now live, with only a limited amount of COLT available before it hits the major exchanges at a higher price point.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
