The bear market rolls on, with the top two crypto-assets, Bitcoin (BTC) and Ethereum (ETH), continuing to drift sideways. However, this has not discouraged investors from flocking to Collateral Network (COLT) during phase 1 of the presale and the token price of $0.01 is attracting investors galore. Let’s learn more about this shift.
Bitcoin (BTC)
Bitcoin (BTC) is the first and largest cryptocurrency in the world. Bitcoin (BTC) is used as both a store of value and a medium of exchange. It is decentralized, meaning no single entity controls Bitcoin (BTC) or its use.
Bitcoin (BTC) has been subjected to its share of highs and lows over the years, yet this most recent downward spiral in the value of Bitcoin (BTC) is turning out to be one of the toughest tests it has ever faced. But why is this happening to Bitcoin (BTC)?
Bitcoin (BTC) holders perceive the economic recession, stringent regulation from China, and other cryptocurrencies stealing market share are accountable for the recent plight of Bitcoin (BTC).
Bitcoin (BTC) was created as a hedge against inflation, which makes it all the more confusing as to why Bitcoin (BTC) has been moving sideways under the previous all-time high set during the 2018 bull run.
Ethereum (ETH)
Ethereum (ETH), founded by Vitalik Buterin, is the second most valuable cryptocurrency based on its market capitalization. Ethereum (ETH) is thought of as the king of smart contract platforms, with many projects being built on the Ethereum (ETH) network.
This adoption is likely to continue increasing as more companies shift towards Ethereum (ETH) as a platform of choice, especially with Ethereum (ETH) shifting to a PoS consensus algorithm and improving scalability.
However, Ethereum (ETH) is down from its all-time highs and is currently trading at around $1640.83. Holders of Ethereum (ETH) are likely to be waiting on the sidelines until the next market cycle begins and Ethereum (ETH) has the potential to show major gains.
Collateral Network (COLT)
Collateral Network (COLT) is turning the crowdlending industry upside down. No longer do borrowers have to contend with low liquidity, high-interest rates and cumbersome paperwork.
Instead, Collateral Network (COLT) provides an innovative and efficient way to borrow funds by leveraging physical assets as collateral. Collateral Network (COLT) takes this idea one step further by minting fractionalized NFTs against these physical assets — this allows multiple lenders to participate in a single loan and dramatically increases liquidity.
Smart contracts on Collateral Network (COLT) automate the entire process on Collateral Network (COLT) and remove the need for intermediaries. As a result, the cost of borrowing funds is significantly reduced and borrowers can receive their loans in minutes as opposed to weeks or months.
The COLT token powers Collateral Network (COLT) and allows users to access the levy of features by Collateral Network (COLT). COLT token holders will also have access to exclusive discounts, priority in loan processing and access to the network’s staking rewards program.
The good news is that you can now get the COLT token for just $0.01 during the Collateral Network (COLT) presale. With analysts predicting a 35x within 6 months from here, the time to act is now.
Find out more about the Collateral Network presale here:
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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