Across the blockchain space, there are over 23,000 cryptocurrencies. This can initially make it a bit intimidating for them to get well acquainted with the Web3 space and the sheer variety of projects available, but this does not always have to be the case.
Some projects have historically stood out, such as Enjin Coin (ENJ) and Flow (FLOW). But a newcomer cryptocurrency aims to disrupt the traditional lending space. Today, we will review Collateral Network (COLT) to see how it compares to the aforementioned projects and why analysts believe it can spike by 35x in value after its presale. Let’s dive in.
Enjin Coin (ENJ)
Enjin Coin (ENJ) announced on April 4 that they give cryptocurrency enthusiasts a sneak peek into the new Enjin Platform and how all of it looks. The Enjin Coin team claims that it will be more accessible than ever before to manage non-fungible tokens (NFTs).
As of April 8, 2023, the Enjin Coin (ENJ) cryptocurrency traded at $0.457104. Its all-time high was on November 25, 2021, at $4.82. When we go over Enjin Coin (ENJ)’s historical performance, in the last 24 hours, it decreased in value by 7%. Its trading volume also dipped by 44.34% at the time of writing.
However, Enjin Coin (ENJ) is still up 16.5% in the last 30 days. The Enjin Coin (ENJ) cryptocurrency needs to break past $0.5 to reach new heights; otherwise, it risks running to a bearish future. Due to Enjin Coin (ENJ)’s performance, investors are looking elsewhere for alternatives.
Flow (FLOW) announced on April 6, 2023, that they officially passed 20 million accounts on top of the network.
As of April 8, 2023, Flow (FLOW) traded at $0.998059. The all-time high for the cryptocurrency occurred on April 5, 2021, at $42.40. The cryptocurrency increased in value in the last 24 hours by 1.1%.
In the last 30 days, its overall value has been up by 5.1%. While this growth is not as significant as some competing projects, it does show that Flow (FLOW) is headed in a green direction, and this confidence in the Web3 space has inspired many to look at other altcoins as well.
Collateral Network (COLT)
Collateral Network (COLT) is a revolutionary new platform that could cause a lot of disruption in the lending industry by utilising blockchain technology to facilitate crowdlending.
It is a peer-to-peer crowdlending platform that allows anyone to borrow capital against physical assets they own in the real world. The assets utilized across Collateral Network (COLT) include real estate, fine art, vintage cars, gold, fine wines, watches, diamonds, and more.
So if an individual, or a company, requires capital but has a watch worth $50,000, for example, they can use it as collateral and borrow against it. They would send the watch to Collateral Network (COLT), where it would get valued and authenticated.
Then, a non-fungible token (NFT) would be minted to represent the asset, making it backed 1-1. The NFT is then fractionalized into smaller pieces that anyone on a global scale can access. This enables lenders globally to fund the borrower’s loan and earn a fixed interest rate.
COLT is the native token used within the platform. Each token holder can access numerous benefits, including auctions, reduced borrowing costs, and cuts on trading fees, and it can even be used for governance and staking rewards.
COLT has already seen a price surge from $0.01 to $0.014. Experts predict its value can increase by 3500%, reaching $0.35 within the following months.
Find out more about the Collateral Network presale here:
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