The year 2022 has ended, and if you plan to enter the crypto world in 2023, fret not. This will help you make an informed decision while investing in cryptocurrencies.
Investors want to look into why established projects like MultiversX (EGLD) and Enjin Coin (ENJ) are facing losses while Collateral Network (COLT) is ruling the market.
Bridging the gap between the digital world and the physical world, Collateral Network (COLT) is streamlining the process of borrowing and lending on the blockchain, with the COLT token forecasted for 3500% returns as analysts throng the project.
MultiversX (EGLD) Lags In Updating Features
MultiversX (EGLD) is one of the leading smart contract networks for dApps developers. MultiversX (EGLD), formerly known as Elrond, was built to compete with the Ethereum (ETH) blockchain. MultiversX (EGLD) is also a layer-one blockchain network.
MultiversX (EGLD) utilizes the proof-of-stake (PoS) consensus mechanism. Currently, MultiversX (EGLD) is further developing Web3 technology and focusing on products that are aimed at the metaverse market.
MultiversX (EGLD) has witnessed a severe fall of 134.79% in its value in the last 3 months. As a result, the trading price of MultiversX (EGLD) has come down to $45.24, which is 9.22% below its all-time high of $490.91.
Enjin Coin (ENJ) Fails To Stay Afloat
Investors are worried about the dull response that the recently-launched metaverse of Enjin Coin (ENJ) has received from users. This fall has made investors question the future prospects of Enjin Coin (ENJ). Enjin Coin (ENJ) is a blockchain platform related to the gaming industry.
On Enjin Coin (ENJ), users can develop and manage virtual items that are represented by NFTs. Developers are also enabled to create tokens, supported by Enjin Coin (ENJ), to facilitate engagement and integration within the gaming industry.
At present, Enjin Coin (ENJ) is being traded at $0.4787, which is around 12.42% below its all-time high of $3.8553.
Collateral Network (COLT) Becomes Favorite Of Whales
Collateral Network (COLT) is the world’s only blockchain-powered platform that is exclusively dedicated to lending and borrowing cryptocurrencies. With Collateral Network (COLT), borrowers across the globe can easily unlock cash from their physical assets by harnessing the benefits of blockchain technology.
Through Collateral Network (COLT), people can borrow cryptocurrencies or money against their physical assets without selling them. Thus, Collateral Network (COLT) mints fractional NFTs against physical assets owned by borrowers. These NFTs can then be purchased by investors to fund the loans for borrowers.
Moreover, the process of borrowing on Collateral Network (COLT) is time-efficient, as borrowers can encash their assets within 24 hours. Additionally, users can borrow on Collateral Network (COLT) against their physical assets without affecting their credit score.
Collateral Network (COLT) has many benefits for lenders as well. First, they can lend funds by purchasing these fractional NFTs, which are backed by real-world physical assets. The backing from real-world assets implies that the value of Collateral Network (COLT) will be less susceptible to drastic market fluctuations and crashes. Second, the platform allows users to become their own banks and provide fractional loans to borrowers at an agreed fixed rate of interest. Thus, lenders receive a fixed income every week.
Collateral Network (COLT) will be powered by COLT, the native crypto of the platform. The starting price of COLT tokens during the presale is $0.01. However, market experts have predicted the price of Collateral Network (COLT) to soar by 35x in the next six months.
Presale COLT buyers will get several benefits, such as access to the VIP members club, voting rights, discounts on borrowing and trading fees, and staking. The platform will supply a total of 1.4 billion COLT tokens, of which only 50% will be available to purchase during the presale.
If you are new to crypto and are looking for a project that can provide the same, if not better, returns than Enjin Coin (ENJ) and MultiversX (EGLD), Collateral Network (COLT) could be a great option.
Find out more about the Collateral Network presale