The U.S. dollar experienced extreme turbulence in April following the collapse of several high-profile banks. This fluctuation has caused price surges and crashes for Ripple (XRP), one of the most traded cryptocurrencies in the market. Collateral Network (COLT), however, has defied recent market trends, rising in value by 40% during its presale.
Ripple (XRP) Drops Over 6% In A Week
Ripple (XRP) became one of the most highly traded cryptocurrencies in April following a series of price increases. Ripple’s (XRP) daily trading volume has consistently passed $1 billion, reaching over $4 billion at the end of March. Despite this rise, the value of Ripple (XRP) has steadily dropped over the past two weeks.
The 24-hour price chart for XRP (DOGE). Source: CoinMarketCap
From the 13th to the 27th of April, Ripple (XRP) decreased in price from $0.51 to $0.4581, with a price crash of 6.90% in the last week alone. This decrease is in line with other cryptocurrencies, such as Solana (SOL) and Ethereum (ETH), which have dropped by 5.19% and 4.30%.
Though it decreased in value, investors remain bullish about Ripple (XRP), with a daily trading volume of $1.55 billion on the 27th of April, suggesting that investors expect Ripple (XRP) to bounce back in May.
Collateral Network (COLT) Continues To Rise Despite Market Downturn
With the future of Ripple (XRP) looking uncertain, Collateral Network (COLT) is quickly becoming a favorite amongst investors looking to diversify. Just a few phases into its presale, Collateral Network (COLT) has jumped in price by 40%, with another 68% price increase this week.
Collateral Network (COLT) is the first project to apply DeFi technology to the traditional lending industry by providing a solution where owners of real-world physical assets can bring these on-chain and obtain crypto loans by using them as collateral.
Assets users can borrow against include real estate, fine art, super cars, gold and luxury timepieces.
Collateral is addressing the many issues associated with the sector. Obtaining loans from large institutions is notoriously difficult as they do not lend against alternative assets such as watches and super cars. In many instances owners are forced to sell their items if they want to unlock liquidity.
If not restricted by geographical issues, pawnbrokers offer an option, however the industry is archaic with unfavorable lending rates and loan to values.
Collateral Network (COLT) is designed to provide a comprehensive solution to meet all borrowers’ and lender’s needs. The platform is permissionless and borderless. Red tape is kept to a minimum with no credit checks. The whole lending and borrowing process is performed on the blockchain enabling a discreet but transparent transaction for both parties.
Having already been successfully audited by solid proof and InterFi network, and passed KYC checks, industry experts have high hopes for Collateral Network, predicting that its COLT token could hit a price of $0.35 before its presale ends.
To capitalize on this increase, investors are buying COLT tokens at record rates for only $0.014 per token.
As the dollar crisis continues, the future of Ripple (XRP) remains unpredictable, and thus investors remain on edge, hoping for positive returns. Meanwhile, Collateral Network (COLT) investors expect several price increases throughout May as the project continues to build momentum at record pace.
Find out more about the Collateral Network presale here: