The long-term growth prospect of cryptocurrencies depends on their utility, and investors consider the use cases of cryptos before investing.
Therefore, Collateral Network (COLT), Quant (QNT), and Bitcoin (BTC) have been able to attract investors despite the bears dominating the current market, with Collateral Network in particular forecasted for massive 3500% returns over its presale.
Quant (QNT) altcoin rank drops
Although meager, Quant has witnessed an increase of 0.82% in its market capitalization, currently at $1.3bn. Increased trading activity on the network has been the driving force behind the recent surge in the market capitalization of Quant (QNT).
With an increase in the Quant trade volume, its price has also risen. The market value of Quant (QNT) has jumped by 7% on the monthly chart. Consequently, the current trading price of QNT is $113.68.
Quant has been on investors’ radar since it announced that it was developing international standards for blockchain bridges. However, according to the data from LunarCrush, the outrank of Quant (QNT) has dropped by 47 positions in the last week.
Bitcoin (BTC) crosses the $30,000 mark
Bitcoin has received massive publicity after some social media posts claimed that the founder of the token, Satoshi Nakamoto, was Apple co-founder Steve Jobs. The theory started doing rounds after a Twitter user revealed that every copy of macOS since Mojave in 2018 has the Bitcoin (BTC) whitepaper hidden in it.
Amid these wild theories, Bitcoin was able to cross the price barrier of $30,000 for the first time since June 2022. Besides these theories, Bitcoin (BTC) has also benefited from the growing anticipation that the US Federal Reserve might shed its monetary tightening approach.
Bitcoin has rallied by over 80% since the beginning of 2023. The price of Bitcoin (BTC) has surged by 48% in the past month. Currently, Bitcoin is changing hands at $29,435.34.
Collateral Network (COLT) presale gains big
By enabling users to obtain loans against tangible assets on Web3, Collateral Network has reshaped the credit industry. Collateral Network (COLT) mints non-fungible tokens (NFTs) against tangible assets and fractionalizes them to allow lenders to buy into them in a decentralized marketplace. This way, lenders fund borrowers’ loans for a fixed interest rate.
Collateral Network grants loans without forcing borrowers through frustrating processes like submitting income-related documents and disclosing credit history. On Collateral Network (COLT), borrowers are only required to own tangible assets, like fine art and vintage cars, which they can use as collateral to get loans. After receiving the asset, the platform stores them in its secured vaults until the loan process is complete. The asset is either returned to the borrower if successful or auctioned if the borrower fails to repay the loan to the lenders.
The native COLT token powers the Collateral Network ecosystem, granting holders access to benefits ranging from staking bonuses to governance rights.
The presale round of Collateral Network (COLT) is making a big impact in the crypto world. Currently, COLT tokens are available at $0.014 and provide a 40% deposit bonus on purchases for a limited period. Investors have already locked a large chunk of COLT tokens, as its price is projected to soar to $0.35 before the end of the presale round. Moreover, Collateral Network is expected to surge by 100x after getting listed on major exchanges.
Find out more about the Collateral Network presale here:-