Shiba Inu (SHIB) still shows strong bullish momentum, but how does it measure against Filecoin (FIL)? According to analysts, Shiba Inu is a good option to consider, given that Filecoin has stagnated in the past few weeks.
Another notable cryptocurrency worth investing in is Collateral Network (COLT). Currently in the first stage of the presale, it has surged by 40% and is expected to give massive 35x returns in the next few months.
What is Driving the Growing Demand for Shiba Inu (SHIB) Tokens?
If you’ve been following crypto trends lately, you may have noticed that Shiba Inu is currently on strong bullish momentum. Recent reports even suggest that in terms of market capitalization, Shiba Inu has already overtaken Binance USD (BUSD) and could even surpass Litecoin (LTC) in the near future.
One of the reasons for the current Shiba Inu surge is its burn rate which has risen by 2000%, ensuring scarcity and increased demand for the SHIB token.
Another reason is the fact that Shiba Inu is currently working on building a customized SHIB wallet. The SHIB wallet will come with better security features and user experience.
The current Shiba Inu surge can also be attributed to the highly anticipated release of ShibaSwap 2.0, which is a decentralized exchange that will enable users to trade different cryptocurrencies, including SHIB tokens. The new Shiba Inu will also bring more features and improvements to the platform. The new developments are likely to bring in more investors to the hugely popular Shiba Inu ecosystem.
Filecoin (FIL) Still Stagnant Despite the Launch of FWS
Filecoin has launched its own version of cloud services similar to Azure and Amazon Web Services (AWS). The new service, which goes by the name of Filecoin Web Services (FWS), offers one of the largest decentralized storage systems in the world.
Filecoin FWS offers storage and computing services to users and dApp developers. However, despite the recent launch of FWS, the price of Filecoin has not yet made any significant moves in the market.
The launch of FWS is a major milestone for the Filecoin project, but it has not translated into significant gains for investors. At present, Filecoin (FIL) is still trading at $5.22, with a trading volume of $103,591,755 at the time of writing.
The lack of interest in the new Filecoin FWS can be attributed to competition from other more established decentralized storage solutions like Siacoin and StorJ.
Why Analysts Are Recommending Collateral Network (COLT)
Despite being a new project in the presale stage, Collateral Network has managed to garner much attention from analysts and investors in the cryptocurrency world. The presale, which was launched at the end of March, has already benefited early investors with 40% gains.
However, it is not the profits that are attracting investors. Collateral Network is an innovative project: the world’s first blockchain platform that allows people to unlock liquidity from physical assets used as collateral, such as properties, vintage cards, watches, fine wines, jewelry, and more.
Collateral Network makes borrowing and lending simpler and faster compared to traditional lending institutions.
As a borrower, you only need to send your physical asset to Collateral Network to authenticate the asset and establish the best lending rate using artificial intelligence algorithmic methods. Collateral Network then mints NFTs against the value of your asset. The NFTs are fractionalized into smaller bits. This means that multiple people lend money for a single loan, reducing the risk for them and increasing the liquidity available for the loan. In return, lenders receive a weekly passive income, becoming mini-banks in the process.
COLT tokens have their utilities, including discounts on trading/borrowing fees, access to auctions of distressed items, and staking rewards. Collateral Network is currently in its presale stage, with tokens currently available at $0.014 after an increase that has given investors 40% returns.
As an innovative solution in the global asset-backed lending industry, which is expected to be worth $1,721.38 billion by 2031, COLT is expected to grow by 3500% in presale and reward investors with 100x returns after getting listed on public exchanges.
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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