When looking at the crypto market, we can see that many coins are slowly losing the gains they achieved at the start of 2023. Enjin Coin (ENJ) and Huobi Token (HT) are currently on a downward trajectory.
However, as they fall, the world’s first web3 challenger lender, Collateral Network (COLT), in Stage 1 of its public presale has been forecasted to achieve 3500% gains for its holders.
Let’s find out how this newcomer will stack up against these other coins!
Collateral Network (COLT)
Collateral Network (COLT) will become the first Web3 peer-to-peer lending platform and is set to transform the lending industry!
Imagine you are the owner of a budding company, and you require some capital. If you own a watch worth $30,000 you can use it as collateral on Collateral Network (COLT) and borrow against this asset.
You send the watch to Collateral Network (COLT), where they will mint an NFT of the watch representing the physical version (100% asset backed NFT). This is then fractionalized into smaller pieces meaning anybody across the globe will be able to lend smaller amounts of funds for an agreed rate of interest. This has been dubbed fractional lending by the Collateral Network Team.
Auctions will also be another exciting aspect of the Collateral Network (COLT) ecosystem. Collateral Network (COLT) will have exclusive online auctions for distressed assets, which will provide investors the chance to buy assets below market value when a borrower defaults on a loan.
COLT is the native token of the platform and holders of the token receive a number of benefits including exclusive access to these auctions, reduced borrowing costs for borrowers and price cuts on trading fees as a crowd lender. Furthermore, governance and staking rewards will also be offered to COLT token holders.
The COLT token is currently trading at $0.01! Experts believe COLT has the growth potential to reach $0.35 (3500% rise) over the coming months.
Collateral Networks unique proposition and real-world utility makes them a top contender for any crypto portfolio in 2023.
Enjin Coin (ENJ)
Recently, Binance added Enjin Coin (ENJ) to its proof of reserves. However, this news did not help the Enjin Coin (ENJ) value as it currently trades for $0.408, which is a decrease of 6.93% in the past 24 hours.
On a positive note, the Enjin Coin (ENJ) trading volume has picked up steam in that same period as it gained 40% and sat at $44M. The Enjin Coin (ENJ) technical analysis shows bears are still in control of the Enjin Coin (ENJ) with all technical indicators and moving averages showing red.
Experts believe that if Enjin Coin (ENJ) continues this bearish trend, it may reach a low of $0.391. For this reason, Enjin Coin (ENJ) holders are looking elsewhere for long-term profitability.
Huobi Token (HT)
In recent news, Huobi Token (HT) announced that it would join the L2 blockchain ecosystem of BitTorrent. Nonetheless, the Huobi Token (HT) value has struggled in the last week as it dropped by 6.8%.
Huobi Token (HT) is currently worth $4.86, down 0.95% overnight. This is a far cry from the Huobi Token (HT) all-time high of $39.66. Not only that, the Huobi Token (HT) trading volume has also dropped by 24% in that same time. Technical indicators for Huobi Token (HT) are showing red at the moment, with some analysts predicting a fall to $3 as bulls struggle to regain control.
In this condition, Huobi Token (HT) is a high-risk asset, and many investors are sidestepping it in favor of projects with more utility.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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