Although the cryptocurrency market was bullish last week, not every coin recorded a significant price increase. Filecoin (FIL) priced up by 9.89% but PancakeSwap (CAKE) dropped by 0.21%.
Interestingly, Collateral Network (COLT), a new player, is taking the market by storm. While it is not certain whether Filecoin (FIL) and PancakeSwap (CAKE) will still go up, Collateral Network (COLT) is set to give investors 35x returns.
Filecoin (FIL) is a peer-to-peer storage network where users pay for data storage and distribution services. Also, it uses a hybrid consensus system comprising proof-of-replication and proof-of-spacetime. All transactions on the network are made in the Filecoin (FIL) token.
According to a report by Investingcube.com, Filecoin (FIL) is one of the best-performing cryptocurrencies of 2023, surging by 215% in the first six weeks of the year. Right now, the price of Filecoin (FIL) is $6.17, but analysts at Bitnation predict that the price of Filecoin (FIL) will drop by $0.166526 over the next seven days to $6 by April 22nd 2023. In other words, Filecoin (FIL) may experience a slight correction in the coming days, even though the current sentiment around the coin is bullish.
PancakeSwap (CAKE) is a decentralised exchange on the Binance Smart Chain (BSC) that rewards users for providing liquidity via farming. Interestingly, PancakeSwap (CAKE) has expanded its services on Ethereum and Aptos blockchains, and DeFi Llama reveals that there is currently $2.36 billion worth of liquidity on the exchange. Additionally, the PancakeSwap (CAKE) token is used for governance.
Recently, PancakeSwap (CAKE) launched its V3 on Ethereum and BSC. PancakeSwap (CAKE) V3 improved capital efficiency and lower fees. However, the price of PancakeSwap (CAKE) has remained sideways even with the upgrade. The coin is currently trading at $3.65.
Collateral Network (COLT)
Collateral Network (COLT) is a next-generation crowdlending platform that allows people from around the world to borrow against real-world assets using blockchain technology. Collateral Network (COLT) mints users’ physical assets as NFTs and fractionalizes them, allowing lenders to purchase them in fractions. This makes money readily available for the borrower. When the borrower pays back the loan, the platform returns the asset and the NFTs are burned.
Let’s say Tony has a watch worth $100k and wants a short-term loan. He can send the watch to Collateral Network (COLT). After valuing the watch, it will be locked in a vault, and an NFT will be minted to represent it. Next, the NFT will be fractionalized into smaller pieces to enable lenders to lend smaller amounts of money for an agreed fixed interest rate over a certain period.
However, if Tony fails to repay the principal loan and interest, the NFTs will remain, and the watch will be sold at public auction, available to COLT token holders to be purchased at a discounted price.
Note that all transactions on the network require the Collateral Network (COLT) token, COLT. Experts predict that Collateral Network (COLT) will surge in price by 35x after the ongoing presale. So interested investors can jump in now and buy the Collateral Network (COLT) token at $0.014.
What sets Collateral Network apart?
- Early presale stage price at $0.014
- First peer 2 peer lending platform on the blockchain
- Doxxed Team with solid experience.
- Already in talks with CEX for Tier 1 CEX Listing
Early investors will benefit from the COLT token’s upward mobility. Presently, its presale price stands at $0.014 but with the demand will not remain at this price for long. Don’t miss out!
Find out more about the Collateral Network presale here:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.