If you are looking for a booming crypto project, you should invest in Collateral Network (COLT) without any delay, as its presale is selling out fast. Collateral Network is expected to explode by 100x in 2023, surpassing the market biggies like Ethereum (ETH) and Ripple (XRP). Read on to know more.
Ethereum’s (ETH) Gas Fees Spiked
The Ethereum network recently hit the headlines after its transaction count and gas fees spiked significantly. Etherscan’s data shows that the average transaction cost on the Ethereum network surged to a high of 155.8 gwei on May 5 from a low of 9.07 gwei in October, where 100 gwei cost around $3.74.
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Increased transactions on the Ethereum network have also made validators earn more. According to market analysts, the key reason behind Ethereum’s soaring gas fees is the rising hype around meme coins like Sponge (SPONGE) and Pepe (PEPE).
However, experts are concerned that the rising gas fees of the Ethereum network can prompt many developers to switch to other scalable networks like Cardano. The price of Ethereum (ETH) has plunged by 5% in the last month. Currently, Ethereum (ETH) is available to trade at $1829.83.
Ripple (XRP) To Open A New Office in Dubai
Ripple CEO, Brad Garlinghouse, revealed that the company plans to increase its footprint in Dubai. His comments have come amid the ongoing tussle between the US regulators and Ripple.
Under its expansion plan for the Middle East region, Ripple will open a new office in DIFC (Dubai International Financial Centre) and will host its 7th annual customer conference in the capital of UAE. Garlinghouse stated that the friendly crypto regulatory environment in the Middle East is a primary reason behind Ripple’s foray into Dubai.
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However, Ripple’s (XRP) price has failed to respond positively to the news and has taken a dip of 8% in the past week. As a result, Ripple (XRP) is currently changing hands at $0.43. On the sidelines, the Ripple boss revealed that the blockchain company will have spent around $200 million in the SEC-XRP lawsuit by the time it gets over.
Collateral Network (COLT) Impresses Bulls With Its Presale Growth Projections
Collateral Network is a blockchain-powered crowdlending platform set to disrupt the lending industry with its innovative approach to borrowing and lending. The platform allows SMEs and individuals to unlock liquidity against their physical assets, which are used as collateral, without selling them. Therefore, using their value to unlock liquidity.
On Collateral Network, a range of non-traditional tangible assets can be used as collateral, like fine art, vintage cars, gold, luxury watches, and more. Borrowers can unlock liquidity within 24 hours without undergoing complex documentation procedures or sharing their credit history.
Borrowers are allowed to send their assets to Collateral Network from across the globe. The company runs a valuation check on assets and accurately values them by utilizing an artificial intelligence-based mechanism. Thereafter, the platform stores collateralized assets in its vaults, mints fractionalized non-fungible tokens (NFTs) against them and sells the NFTs fractions to investors in a decentralized marketplace.
While purchasing NFTs to unlock liquidity, lenders are entitled to receive a weekly passive income generated by the loan’s interest. The smart contract of COLT, the native token of Collateral Network, is fully audited, and the COLT team is fully doxxed. COLT holders will receive a number of benefits, like discounts on borrowing and trading fees, staking rewards, voting rights, and access to private auctions.
Stage one of the Collateral Network presale is live, and its COLT tokens are currently available at $0.014. However, the price of the token is predicted to rise by 3500% before the presale ends and by a further 100x once it is listed in major exchanges. Therefore, It would be best if you lock your COLT tokens now before their value surges in the next few months.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
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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.
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