More projects than ever before are getting into the Web3 space, aiming to disrupt a specific industry or provide a lot of value to traders as well as investors.
One of these projects is Collateral Network (COLT), which is a project aimed at unlocking liquidity for real-world assets.
To see why the project stands out from thousands of others, we will be going over its features and will compare it to Enjin Coin (ENJ) and Quant (QNT) to see why analysts predict it can increase in value by 3500%. Let’s dive in.
Collateral Network (COLT)
Collateral Network (COLT) is a Web3 platform that operates Peer-to-Peer (P2P) and has the primary objective of transforming the traditional lending industry by implementing blockchain technology.
Suppose an individual owns a physical asset of value, which can be in the form of a luxury watch, a vintage car, gold bars, or other assets of value, such as collectibles. They can use these as collateral on the network and then borrow against them.
In the case of a watch, the individual would send it to Collateral Network (COLT), where its value and authenticity will get checked, and a non-fungible token (NFT) will get minted that is 100% backed by the asset.
This NFT can then get fractionalized into smaller pieces, and anyone will be able to access it globally, and as such, lending can occur for smaller amounts of funds.
This is dubbed fractional lending by the team behind Collateral Network (COLT).
If a borrower defaults on a loan, their assets will be distressed and, as such, will be auctioned off. Auctions will enable investors and buyers the opportunity to get the assets at a discounted price.
The native cryptocurrency is known as COLT. This COLT token enables users to get numerous benefits from the platform, such as reduced borrowing costs or price cuts on trading fees. The Collateral Network (COLT) token can also be used for staking and for governance.
At the presale stage, COLT is offered at $0.01. Analysts predict that the value behind Collateral Network (COLT) can increase by 3500% and reach $0.35 throughout the upcoming months. The smart contract has been audited, and the liquidity will be locked for 33 years, with the team tokens being locked for two years. Only 38% of the total supply will be available throughout the presale stage.
Enjin Coin (ENJ)
Enjin Coin (ENJ) made an announcement on April 4 surrounding the new updates coming to the Enjin Platform. Users can easily manage and create collections, tokens, and means, and developers can approve, freeze, mutate, or destroy assets from the UI platform.
When we go over the value behind Enjin Coin (ENJ), on April 6, 2023, it was trading at $0.416668.
Its all-time high was on November 25, 2021, at $4.82. In the last seven days, Enjin Coin (ENJ) grew in value, while in the last 30 days, it’s still down by 2.3%.
The trading volume behind Enjin Coin (ENJ) increased by 25.28%, indicating a bit of movement for the token. The future for ENJ looks volatile, and it is clear why investors are diversifying.
Quant (QNT)
Quant (QNT) also announced on April 3 how they were a flagship at the CityAM Digital asset event. The Chief Product Officer (CPO) behind Quant (QNT), Martin Hargreaves, participated in a panel discussion examining the prospects of the Digital Pound.
Regarding the overall value behind Quant (QNT), on April 6, 2023, it was trading at $120.55. Its all-time high was on September 11, 2021, at $427.74. In the last 24 hours, the token dipped by 2%, and in the last 30 days, it dipped by 4.2%. The trading volume behind Quant (QNT) also increased by 19.89%. Worried investors are diversifying with newer high-growth altcoins as a result.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Themarketperiodical.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.