Knowing which crypto to acquire is crucial to optimize income potential as the sector rises. This year, experts are fixated on one project currently running its presale, Collateral Network (COLT), which is set for 3500% gains. We explore this initiative, what it does, and how it ...
Knowing which crypto to acquire is crucial to optimize income potential as the sector rises. This year, experts are fixated on one project currently running its presale, Collateral Network (COLT), which is set for 3500% gains. We explore this initiative, what it does, and how it will compare to Compound (COMP) and Decentraland (MANA) in 2023.
Compound (COMP)
Compound (COMP) recently announced that its Compound III component has grown to $650m in total assets. However, the Compound (COMP) token has not reflected this growth as it now trades at $43.24 with a market cap of $314m, down 1.33% in the last 24 hours (at the time of writing).
On a positive note, the trading volume for Compound (COMP) has increased by 26%, reaching $28,674,106 overnight. A bullish sentiment can be seen for the Compound (COMP) as all of its technical indicators and moving averages show strong buy signals.
Experts have noticed these indicators as they predict Compound (COMP) will reach $50 by the end of 2023. But, the COMP price also shows a downward slope that might bring Compound (COMP) to a new low. Even if Compound (COMP) avoids this slope, investors are sidestepping it in favor of projects such as Collateral Network (COLT).
Decentraland (MANA)
With the most recent Decentraland (MANA) upgrade, finding the ideal plot of LAND to rent or purchase has become much more manageable. To locate your perfect LAND in Decentraland (MANA), you can now filter in map view to quickly look for prospective alternatives.
Nevertheless, the Decentraland (MANA) token has not been performing well in the past day (at the time of writing), currently dropping by 2.60% and standing at $0.5963. The Decentraland (MANA) trading volume now sits at $100,099,554, up by 1% in the last day alone.
The technical analysis for Decentraland (MANA) shows a mixed sentiment, with some of the technical indicators showing green while some are neutral. Decentraland (MANA) pricing has remained in consolidation despite improvements to Decentraland (MANA)’s mainnet due to poor investor interest and a decline in platform users. Because of this, analysts predict Decentraland (MANA) will fall to its support level of $0.5800 if more metaverse adoption does not occur soon.
Collateral Network (COLT)
Collateral Network (COLT) is a unique decentralized peer-to-peer (P2P) lending platform that will allow borrowers in need of short-term loans to use tangible off-chain assets such as gold bars, rare whiskey or wine bottles, luxurious watches, and more as collateral.
Collateral Network (COLT) allows you to unlock liquidity from one such item by sending it to Collateral Network (COLT), which will mint a non-fungible token (NFT) representing the actual physical version of the asset itself (100% asset-backed) and store it on-chain. After fractionalization, lenders on the Collateral Network (COLT) community can become a mini bank as they fund the loan (by purchasing the token partially) and obtain a predetermined interest rate in return.
With fractional lending, Collateral Network (COLT) borrowers can see a fast turnaround on their assets as they obtain funds within 24 hours, all while eliminating any trace of it on their credit file. Meanwhile, investors will receive passive income paid out weekly.
The Collateral Network (COLT) ecosystem is powered by its native token, COLT, which brings various perks to its holders, such as staking rewards, voting on future listings, and trading/borrowing fee price cuts. With a current presale cost of just $0.014, it has great growth potential, with many experts predicting a 35x rise to $0.35 by the time it concludes.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk