Collateral Network brings crowdlending to the blockchain and has turned into one of the most important token presales of this year. Meanwhile, VeChain (VET) and PancakeSwap (CAKE) struggle to maintain investor interest, making their holders wonder if they will ever regain their all-time highs.
The price of Collateral Network (COLT) is currently $0.01. Analysts predict the value can reach $0.35 by the end of 2023 (a growth of 3500%).
VeChain (VET) to Solve World’s Sustainability Issues
VeChain bears seem to win their fight against bulls, despite the main use cases of this crypto project. Used to solve supply chain and logistics issues for businesses, VeChain’s token VET has been in a downtrend lately.
VeChain announced that it actively works on solutions for luxury brands that often find fake items being sold illegally. One way to do this is VeChain implanting a chip in the luxury brands’ products, allowing the businesses to track their goods and monitor sales in real-time on the blockchain.
VeChain is partnering with other institutions and businesses in an attempt to solve challenges like ethical sourcing and economic empowerment. However, VET is still about 92% below its all-time high of $0.27 and is unlikely to recover all of this lost ground without a major catalyst.
PancakeSwap (CAKE) Rolling Out a New Version
In mid-April, PancakeSwap (CAKE) is set to roll out its latest version, which may revive its price action in the favor of bulls. However, despite the good news regarding the integration with SpaceIDProtocol at the end of March, the CAKE price has yet to benefit.
The project experiences a mix of bullish signs and decreasing faith, but a trend reversal is still possible. However, it seems like the next version’s hype may not be enough for this to happen in the near future.
At the time of writing, the price of PancakeSwap (CAKE) stands at $3.68 and is down over 50% on the yearly chart.
Collateral Network (COLT) Brings Crowdlending to the Blockchain
Using blockchain technology, Collateral Network (COLT) decentralizes the lending industry. This is the first platform of its kind that turns credit options into accessible, flexible, and transparent opportunities that attract both new and veteran investors.
Users of the platform can use illiquid assets, such as luxury watches, fine wine, or artwork as collateral. These physical assets are minted to fractionalized NFTs and are a 1:1 representation of the physical asset on the blockchain. The NFT is then broken down into smaller pieces which means anybody from across the world can become a lender and contribute to the overall loan and still receive the same rate of interest.
The platform comes with real-world utility and benefits to both sides. On the one hand, borrowers get access to cash within 24 hours, and investors now enjoy more opportunities to generate passive income. COLT is the native token of the platform and provides holders with a number of benefits. These benefits include governance rights on future developments of the platform and staking rewards.
Summary
Collateral Network is the perfect way to generate passive income if you have valuable but illiquid assets. Crowdlending is transparent, and cost-efficient, and there is no impact on the credit score of the borrower. Thanks to these many benefits, experts expect the platform’s COLT token to explode, with an estimated price increase of 3,500% during the presale, the price is currently at $0.01 per token.
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