As Bitcoin (BTC) trades at over $30k for the first time since June 2022, what does this mean for the altcoin price of Cardano (ADA), Ripple (XRP) and Collateral Network (COLT)? The last one, Collateral Network (COLT), is a new entrant to the Web3 space, currently available to buy...
As Bitcoin (BTC) trades at over $30k for the first time since June 2022, what does this mean for the altcoin price of Cardano (ADA), Ripple (XRP) and Collateral Network (COLT)? The last one, Collateral Network (COLT), is a new entrant to the Web3 space, currently available to buy for only $0.014.
Let’s see what has got analysts so excited.
Collateral Network (COLT), a game changer for borrowing
Are you fed up with banks giving low rates of interest for your savings? Billions of others are, and that’s one of the ways that Collateral Network (COLT) plans to disrupt the lending industry.
Collateral Network (COLT) enables users to use their physical assets as collateral to obtain loans. Borrowers can use real-world assets such as diamonds, watches and fine art. Collateral Network (COLT) stores the assets in its vault for the duration of the loan.
Then, it mints an NFT that represents the asset, backed 1:1 by the asset, and fractionalizes it, so multiple lenders can lend small amounts of money to fund the borrower’s loan. In return, lenders receive a fixed interest rate, enabling them to invest in an array of loans and build a diversified portfolio.
The Collateral Network (COLT) team tokens are locked for 2 years and the liquidity pool for 33 years, showing the fully doxxed and KYC’d team’s commitment to the project. Collateral Network (COLT) brings privacy for borrowers as transactions do not affect borrowers’ credit checks.
Due to the groundbreaking business model and tokenomics, the token of Collateral Network (COLT) is forecasted to grow by an astounding 3500% to $0.35 whilst still in presale, and then predicted to grow as much as another 100x when Collateral Network (COLT) lists, meaning that early holders could be well on their way to the moon.
Cardano (ADA) makes a crucial move with Charli3
Following the Bitcoin (BTC) trend, the Cardano (ADA) TVL is the highest it’s been since June 2022 at $151m, according to DefiLlama. On-chain data shows that whales continue to accumulate massive amounts of Cardano (ADA), with over $218 million worth purchased in the last two weeks, according to analyst and trader Ali Martinez.
In other news, Cardano (ADA) recently integrated Charli3, an oracle solution comparable to Chainlink, albeit much smaller. As DeFi participants will know, accurate price oracles are needed for the safety of DeFi protocols and their users, so this is a big step for Cardano (ADA).
Cardano (ADA) recently implemented a new cross-chain network integration, meaning that people can now play games on Cardano (ADA) using ADA coins, and Cardano (ADA) games can be played on other networks.
If Cardano (ADA) can keep up the pace of development that we have seen, then ADA tokens could be a great addition to a portfolio.
Yet more ‘proof’ that Ripple (XRP) isn’t a security
As the SEC vs Ripple (XRP) case continues to drag on, the positive news surrounding it continues. Recently, U.S. attorney Jeremy Hogan stated that he believes that Ripple (XRP) is not a security and that the SEC has failed to establish a solid argument in the SEC vs Ripple (XRP) case. Hogan argues that XRP does not fit into the category of an ‘investment contract,’ which is the only definition of security that he thinks should apply.
He added that the SEC’s argument that the purchase agreement made XRP an investment contract is flawed, as Ripple (XRP) separates the investment transaction from the purchase contract and makes it a simple purchase transaction. Hogan further argues that there was no explicit or implied contract between Ripple Labs and XRP investors during the sale, negating the SEC’s claims. This comes right after news from the Ripple (XRP) case’s lawyers, who noted that the SEC’s recent line of attack that links the performance of Ripple (XRP) to Bitcoin invalidates the argument that Ripple (XRP) is a security.
Given the bullish sentiment about the case and the need for the Ripple (XRP) product within the banking industry, XRP could be a good coin to hold now. However, be aware that the latest from the court case suggests that it may be another two years before the SEC vs Ripple (XRP) case is concluded.
Read more about the COLT presale here:
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