Collateral Network lures sharks with 40% gains, overshadowing Zcash and Tezos
The cryptocurrency market has seen a surge of interest in recent years, with many investors on the hunt for the next big thing. One cryptocurrency that has caught the attention of investors is Collateral Network (COLT), which has just pumped 40% in the presale phase. This comes at a time when established cryptocurrencies, such as Zcash (ZEC) and Tezos (XTZ), could not draw significant investor attraction.
Collateral Network (COLT)
Collateral Network is an innovative peer-to-peer lending system that allows users to leverage tangible items—such as timepieces, artwork, real estate, watches, jewelry, or precious stones—as loan collateral. What sets Collateral Network (COLT) apart is its unique approach to unlocking liquidity from these assets by transforming them into NFTs.
A borrower sends the physical asset to Collateral Network, whose team authenticates, values, and stores the asset in its vault for the duration of the loan. Then, the platform mints an NFT that is 100% backed by the physical asset and with the same monetary value. By tokenizing collateral, Collateral Network (COLT) enables the division of the NFT/asset into several smaller portions, allowing multiple lenders to contribute to a single loan. As such, Collateral Network lowers the entry barrier for lenders and enhances loan liquidity for borrowers.
Collateral Network’s native currency, COLT, facilitates the flow of funds within the ecosystem. Loyal COLT token holders are rewarded with reduced fees, priority access to NFT auctions, staking incentives, and more.
Collateral Network’s revolutionary approach to the $4.9 trillion asset-backed lending market has attracted significant investor interest and caused the value of COLT to surge by 40% since February. Investors are increasingly drawn to Collateral Network’s offering, with the price scheduled to rise further after the presale closes.
Zcash (ZEC)
Zcash is a privacy-focused cryptocurrency that uses zero-knowledge cryptography to shield transactions from outside inspection. Zcash (ZEC) allows users to transact freely without worrying about third-party interference, helping them maintain financial autonomy.
While Zcash’s privacy features have earned it the admiration of many investors, its market performance has been lackluster in recent years. In fact, Zcash (ZEC) is more than 99% down from its all-time high of $5,941.80 in January 2016.
Zcash has become a forgotten asset in the cryptocurrency market, with traders increasingly drawn to newer projects. The likes of Collateral Network are set to transform trillion-dollar industries, while Zcash is competing in a smaller market with more competition.
The short-term price action is no better, with Zcash one of the only cryptocurrencies not to have gained in value since January 2023. Zcash analysts foresee the price of Zcash (ZEC) hovering near the current levels of $25 to $50 for the foreseeable future.
Tezos (XTZ)
Tezos is a decentralized blockchain platform designed for smart contract execution and dApps development. Tezos (XTZ) distinguishing features include its on-chain governance model, formal verification technology, and self-amending protocol.
Tezos got off to a flying start after its 2018 ICO — raising over $200 million and reaching a market cap of $7.2 billion in January 2021. However, XTZ price has since plummeted over 88% to a current price of $1.013.
Much of Tezos (XTZ) price fall can be attributed to the bearish cryptocurrency market, which has caused even the strongest projects to take a hit. But Tezos is not without its own issues; the project lacks an active development community and has been unable to attract new users or developers.
Analysts still foresee Tezos moving higher in a crypto-wide bull run, but it is unlikely that the asset will reach its all-time high of $9.17 shortly. The $0.95 to $1.50 range is the most likely price action for Tezos in the coming months.
Find out more about the Collateral Network (COLT) presale here:-
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
