The blockchain space is filled with thousands of cryptocurrencies for investors and traders. Not all of them have historically performed equally, and while some have increased in value, others have decreased tremendously.
SushiSwap (SUSHI) and Avalanche (AVAX) have showcased worrying performance recently and have entered the red zone regarding their value.
The downward trend of the broader market has prompted investors and traders to look at projects in their presale phase, such as Collateral Network (COLT), which has a high-growth potential and has been forecasted to reach a 3500% increase in value for its investors.
Today, we will explore Collateral Network (COLT) alongside SushiSwap (SUSHI) and Avalanche (AVAX) to see how each cryptocurrency performs.
Collateral Network (COLT)
Collateral Network (COLT) is built on top of the Ethereum blockchain as a Peer-to-Peer (P2P) crowdlending platform that will enable anyone to borrow against physical assets.
The Collateral Network (COLT) project is one of the first in the Web3 space that allows users to create asset-backed non-fungible tokens (NFTs) and then fractionalize them, through which they can fund loans.
The assets that borrowers can use range from supercars, real estate, luxury watches and more.
The NFT will represent the asset, and the asset backs the NFT 1:1. This can then be fractionalized, enabling multiple lenders to fund the loan and earn interest on their capital.
This way, those needing funding can get it while leaving something valuable as collateral.
The native token, COLT, has a high level of utility associated with it. The Collateral Network (COLT) token holders will get access to auctions, reduced borrowing costs, and price cuts on trading fees as a crowd lender. There is also utility in the form of staking and governance.
Throughout the Stage 1 presale, the Collateral Network (COLT) token is offered at $0.01. Analysts predict the cryptocurrency can rise 35x in value and reach $0.35 in the upcoming months.
The Collateral Network (COLT) project allows investors and traders to get into the early stages of a project that can become an industry leader in the Web3 space in 2023 and beyond.
The SushiSwap (SUSHI) team announced that the project would join the DEX aggregator business with a new aggregator route, enabling users to get the best possible prices for their traders without any additional steps.
SushiSwap (SUSHI) would unify liquidity across exchanges on a chain and find the best possible routes for a swap.
Despite this announcement, on March 27, 2023, the SushiSwap (SUSHI) cryptocurrency was trading at $1.05. In the last seven days, SushiSwap (SUSHI) experienced a fall in value by 14.76%.
The all-time high for SushiSwap (SUSHI) was on March 13, 2021, at $23.38, indicating that it’s now 95.56% lower in value. Regarding its 30-day decrease, it saw a decline of 22.9%. With this in mind, SushiSwap (SUSHI) is headed in a bearish direction, and investors are worried.
Avalanche (AVAX) partnered with Shopify and TYB to provide a Web3 Loyalty Platform to Shopify’s millions of merchants.
The announcement did not increase the cryptocurrency’s value. As of March 27, 2023, Avalanche (AVAX) was trading at $16.91. In the last 24 hours, Avalanche (AVAX) dipped by 1.05%, and in the previous seven days, it decreased by 3.62%. As for its 30-day performance, it’s down by 7.9%.
Avalanche’s (AVAX) all-time high was on November 21, 2021, at $144.96, indicating that Avalanche (AVAX) now 88.34% lower in value.
It’s clear that Avalanche (AVAX) is in the red zone, and it could decrease under the $16 price point if it keeps up with its current momentum. This has sparked interest in investors and traders to invest in alternative cryptocurrencies that can provide a lot more value.
Find out more about the Collateral Network presale here: