The crypto market is seeing a lot of buzz around Collateral Network (COLT). This blockchain-based lending platform allows users to leverage their physical assets as collateral for loans.
COLT has just started its presale with forecasted 35x gains, and investors are already rushing to buy the native token, with Dogecoin (DOGE) and Ethereum (ETH) holders leading the way.
The original meme coin, Dogecoin, is far from the highs of previous years. Still, the token has recently seen some positive action.
Started as a joke, Dogecoin poked fun at low-effort crypto tokens. It has since gathered a cult following, including celebrity entrepreneurs like Elon Musk and Mark Cuban. Musk, in particular, wanted to see Dogecoin go “to the moon,” and promoted it relentlessly. Despite his best efforts, he could only do so far. Dogecoin is far from its all-time high price of $0.6.
Recently, Dogecoin came into the spotlight again after Elon Musk bought Twitter. Many investors believed that Musk would integrate Dogecoin into the platform in some way. So far, this has not happened.
While some investors remain hopeful, others are cashing out, souring to Dogecoin’s negative price action. Many are choosing Collateral Network, due to its potential to provide stable passive income to holders.
Collateral Network (COLT)
Collateral Network (COLT) is an innovative platform that allows borrowers to unlock liquidity against physical assets by minting NFTs, fractionalizing them, and allowing the community to fund their loans. Borrowers can obtain crypto loans against their tangible assets, such as fine art, real estate, vintage cars, and more, without selling their property.
Through the use of these NFTs, borrowers gain access to faster loans that leave no footprint on their credit score, while the fact that they are fractionalized enables lenders to collectively fund the loans and earn interest on their capital.
This functionality works through the use of smart contracts which dictate the terms of the loan, automatically ensure that all payments are on time, and removes any middlemen from the lending process.
The project’s native COLT token is currently offered for $0.01 during its presale, and experts predict it could reach $0.35 once the presale concludes. The token provides holders with benefits such as staking bonuses, governance rights, and transaction fee discounts. With its innovative features, Collateral Network is positioning itself as a serious player in the crypto lending space.
Ethereum (ETH) is the second-largest cryptocurrency by market capitalization and the biggest blockchain that enables developers to build smart contracts and decentralized applications (dApps). Ethereum (ETH) has attracted a strong development community and a large number of investors.
Ethereum holders are also showing interest in Collateral Network. Collateral Network’s focus on decentralized finance (DeFi) has caught the attention of many investors. Ethereum’s investors also appreciate Collateral Network’s emphasis on decentralization and self-custody.
Moreover, Ethereum (ETH)’s hybrid infrastructure model, which combines both on-chain and off-chain assets, provides greater flexibility and security compared to other DeFi platforms.
As a blockchain project with real-life utility, Collateral Network could become one of the biggest projects on the Ethereum network. This makes Ethereum investors especially bullish for the project.
Find out more about the Collateral Network presale here:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.