Over the past week Shiba Inu’s (SHIB) market capitalization increased above Tron (TRX) for the first time. Currently ranked the 14th largest cryptocurrency in the world, Shiba Inu has a market cap of $6.4 billion, compared to Tron’s (TRX) $5.8 billion. While the two compete, Collateral Network (COLT) is making waves in the presale market, having already increased in value by 40% since beginning its presale.
Shiba Inu (SHIB) Shoots For The Moon With Shibarium
Shiba Inu (SHIB) is looking to diversify its use case. Formerly known as a popular memecoin, Shiba Inu (SHIB) looks to introduce a layer two scalability project to improve its utility. Known as Shibarium, this innovative new project could take the value of Shiba Inu (SHIB) to new highs.
While the announcement of Shibarium has Shiba Inu (SHIB) token holders excited, SHIB tokens are being burnt at record rates to reduce the number of tokens in circulation. On March 28th alone, 814 million Shiba Inu (SHIB) tokens were burned. In total, the number of SHIB tokens burned has increased by over 10,000% in April, attracting new investors and crypto whales.
However, with Shibarium getting off to a rocky start following several delays, not all investors are confident that Shiba Inu (SHIB) will be able to live up to the hype.
TRON (TRX) Declines After Justin Sun Controversy
While the cryptocurrency market has bounced back, Tron (TRX) has decreased in price. In the past month, Tron (TRX) decreased in price by 2.7%, and the reputation of TRX has been damaged following an investigation by the US Securities and Exchange Commission (SEC).
The SEC is pursuing the Tron (TRX) founder Justin Sun over alleged securities fraud, causing Tron’s (TRX) trading volume to decline throughout April. With the investigation ongoing and the value of Tron (TRX) decreasing, investors are now looking at alternative opportunities with new projects like Collateral Network (COLT).
Collateral Network (COLT) On Track To Surge In April
Collateral Network (COLT) uses NFTs to allow borrowers to unlock capital from real-world assets. Assets such as fine art, vehicles and diamonds traditionally require a lengthy and complex liquidation process. Using Collateral Network (COLT), borrowers can mint NFTs backed by their physical assets and borrow from lenders without jumping through unnecessary hoops.
Every NFT is backed 1 to 1 by the asset, and fractionalized to get involved instead of lending the entire loan. To incentivize investors, lenders will generate a passive income via the fixed interest rate and will have the option to provide loans across multiple blockchains for ease of use.
Collateral Network (COLT) transactions are made on-chain to guarantee outstanding security, and confidentiality with transactions never impacting a borrower’s credit rating. Transactions made on Collateral Network (COLT) are also fast, with borrowers receiving money in just 24 hours.
Collateral Network (COLT) uses COLT as its native token. COLT recently increased from $0.01 to $0.014 during its presale, with market analysts predicting Collateral Network (COLT) to hit $0.35 before its presale ends. Investors who buy tokens during the Collateral Network (COLT) presale will have access to private actions where they can buy distressed assets, enjoy governance rights, and more.
With potential price increases of 3500%, investors are buying Collateral Network (COLT) over traditional investments to boost their portfolios and capitalize on a project that could revolutionize the crowdlending market.
Find out more about the Collateral Network presale here:
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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.