Coinbase has threatened to sue the SEC, which could become a landmark case for digital assets in the United States if it goes to trial. The industry remains tentatively hopeful. However, this news has not saved NEAR Protocol (NEAR) which continues to plummet, and ApeCoin (APE) stays flat. On the other hand, Collateral Network (COLT), a new challenger lender, has blasted past both looking to secure gains of 3,500% in the coming weeks.
Collateral Network (COLT) Continues Steep Upwards Trajectory
Collateral Network (COLT) has beat expectations and continues to soar, forcing analysts to revise their price targets and forecast 3,500% gains for this nascent lending protocol. Collateral Network (COLT) has benefitted from the real-world narrative. Investors have realized that this protocol could attract millions, if not billions, in TVL (Total Value Locked), given its ability to unlock liquidity for tangible off-chain assets.
Collateral Network (COLT) is the first decentralized protocol for real-world assets, and this first mover’s advantage will become increasingly advantageous with time. The protocol uses artificial intelligence (AI) during its valuation process and then mints an NFT 100% backed by the asset in question. Collateral Network (COLT) supports real estate, fine art, cars, luxury watches, and more. The owner can then use this NFT to access institutional-level liquidity on the platform.
Lenders can earn passive income by supplying stable assets and can choose which items they lend their assets to, allowing anybody in the world to make customized loan portfolios. The protocol has a doxxed team, is KYC audited, and has a detailed roadmap announcing plans to launch the native token $COLT on centralized exchanges in the coming months. With this increased market exposure, analysts privately forecast $COLT could see price gains up to 100X.
NEAR Protocol (NEAR) Struggles with Emissions
NEAR Protocol (NEAR) has fallen more than 5% in the last seven days, and analysts’ outlooks for the NEAR token look bleak. Their price prediction put NEAR Protocol trading between $2.36 and $3.37 in 2024.
NEAR has involved itself with digital identity and even recently formally responded to the UK Crypto Asset Consultation request outlining why favorable regulations for digital assets would benefit the United Kingdom’s economy.
However, NEAR Protocol (NEAR) cannot escape its high emission schedule. Throughout the bear market, its supply expanded as the price crashed further, decreasing the token’s value and essentially killing the NEAR Protocol’s (NEAR) ecosystem. NEAR Protocol’s (NEAR) high emissions have inflated away the token’s worth, and it will take something astounding to change this layer one’s fate.
ApeCoin (APE) Bulls and Bears Remain Indecisive
ApeCoin (APE) has traded flat this week, which is a surprise given the rapid decline in the floor price of the Bored Ape Yacht Club (BAYC) NFTs. Trading volume was also minimal for ApeCoin (APE), suggesting that traders wait to see what happens with the BAYC floor price before committing to action.
Analysts stated their surprise, with a falling floor price for BAYC, bears should have taken control of ApeCoin’s (APE) price. However, it appears that the ApeCoin (APE) DAO’s recent proposal AIP-239 has galvanized the community. AIP-239 introduces working groups to the ApeCoin (APE) DAO meaning that any person holding ApeCoin (APE) can become more meaningfully involved with the DAO’s operations.
Analysts’ ApeCoin (APE) price predictions show a range between $5.05 and $5.49 in 2024, meaning investors would be much better off holding Collateral Network (COLT).
Find out more about the Collateral Network presale here:
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