Cronos, 1inch, and Collateral Network are showing bullish momentum
Since new crypto projects are entering the market daily, finding one that could generate a significant return on investment (ROI) can be difficult. But no worries, our analysts have discovered one that could see a 3500% surge soon – Collateral Network (COLT), a project currently in Phase 2 of its public presale that has advanced at lightning speed. Today, we will compare this presale star to established coins such as Cronos (CRO) and 1inch (1INCH) and see which one may bring you the most ROI in 2023!
Collateral Network (COLT)
Collateral Network will link borrowers and lenders in a cost-effective, decentralized way by developing the world’s first Ethereum-based peer-to-peer crowdlending platform, allowing borrowers to unlock the total liquidity from their physical assets without selling them.
Borrowers may use jewelry, elegant wines, and even vintage cars as collateral on this platform by sending the item to Collateral Network. Upon receiving the item, an NFT that represents the physical version of the item itself (100% asset-backed) will be minted and stored on-chain. This NFT will then be fractionalized, and the COLT community can contribute to individual fractions of the loan – receiving a predetermined interest rate paid out weekly in return!
As a safety precaution, if a borrower defaults on a loan, the asset will be placed on the Collateral Network auctions site. These auctions will occur physically and digitally in the metaverse, allowing investors to buy items for less than their market worth. After an auction, the funds will be used to refund each fractional lender.
Holders can access these auctions by holding the platform’s native token, COLT, currently available for only $0.014! COLT also gives its holders voting rights on future listings, staking bonuses, and borrowing/trading fee discounts. For investors who wish to purchase COLT, now is a perfect time, as supply is limited, and demand is high! Experts remain bullish for COLT as they see it rising to $0.35 soon as COLT becomes a market leader in 2023.
With all this utility, it is no wonder that investors are flocking to this one-of-a-kind presale that will also bring a 40% deposit bonus with a single COLT purchase.
ThirdFi announced that it has become available on the Cronos blockchain. This development means ThirdFi developers may now create dApps for Cronos using the ThirdFi API!
However, this news has not impacted the CRO token as it now trades at $0.06767, which is a fall of 2% overnight. The technical analysis for Cronos also raises some concerns, as all its moving averages are in red.
Another factor contributing to a bearish sentiment is the CRO trading volume, which has decreased by 0.37% in the last day alone and now sits at $14,088,024. Experts predict a downward trend for CRO as all technical indicators point in that direction, with a price of $0.040 by December 2023 for CRO.
In recent news, 1inch stated it would participate in the DeFi track of the Zero2Hero Hackathon. With this move, 1INCH shows its dedication to igniting the participants’ drive to develop new solutions and foster DeFi innovation.
But the 1inch token value has not been affected as, at the time of writing, it has a value of $0.5267, down 3.40% in the past 24 hours. When looking at the 1inch token, we can also notice that all of its technical indicators and moving averages show strong sell signals.
This 1inch analysis paints a bearish outlook as analysts believe a downtrend that could push the 1INCH value down to its support level of $0.35. Because of this, 1inch holders are looking elsewhere for long-term profitability.
Find out more about the Collateral Network presale here: