Stellar (XLM), Polkadot (DOT) Plunge As Bulls Make Millions With Collateral Network (COLT)
Since most investors have moved to Collateral Network (COLT) in quest of getting the maximum return on their investment, projects like Stellar (XLM) and Polkadot (DOT) have been finding it difficult to survive in the market.
Analysts have forecasted that the value of Collateral Network (COLT) will rise by 35x in the next two quarters as bulls are favoring the project overwhelmingly.
No More Demand For Stellar (XLM)
The prevailing bearish market has pulled Stellar (XLM) down to a level where investors have become worried about the project’s future. Besides, the FTX disaster and ongoing SEC-Ripple lawsuit have also made a significant impact on Stellar (XLM). The value of Stellar (XLM) has declined by 19% in the last 30 days. Currently, Stellar (XLM) is being traded at $0.0719, which is 92% below its all-time high of $0.94.
Therefore, Stellar (XLM) has been supporting innovative projects on its network. Notably, Stellar (XLM) recently invested about $1 million in several nascent projects to expand its use cases. Stellar (XLM) is a blockchain network with the primary goal of facilitating transactions in different currencies. Stellar (XLM) has inked deals with many financial institutions, such as Deloitte, IBM, and Stripe.
Polkadot (DOT) Struggle With Bears Continues
Although Polkadot (DOT) recently deployed the v0.9.33 upgrade, it has not brought any good news for the platform. The price of Polkadot (DOT) has declined by 18% in the last 30 days. This steep decline has brought the current trading price of Polkadot (DOT) to $4.31.
Polkadot (DOT) is an open-source protocol that aims to secure and connect different blockchain networks. The primary aim of Polkadot (DOT) is to smoothen the cross-chain transfer of assets and data between various blockchains. Polkadot (DOT) aims to facilitate interoperability between different blockchain networks. Polkadot (DOT) allows developers to launch and describe various layer-1 protocols.
Collateral Network (COLT) Acquires More Ground In the Market
Collateral Network (COLT) is the first-of-its-kind blockchain-powered platform for lending and borrowing cryptocurrencies. Collateral Network (COLT) users can unlock cash from their real-world assets using blockchain technology. Collateral Network (COLT) enables users to take loans against their physical assets without selling them.
Collateral Network (COLT) mints fractional NFTs against real-world physical assets of borrowers, which investors can purchase to fund the loans. Furthermore, the process of borrowing on Collateral Network (COLT) does not take much time, as users can encash their physical assets within 24 hours. Another advantage for Collateral Network (COLT) users is they can borrow on the blockchain platform without leaving any footprint on their credit history.
As for lenders on Collateral Network (COLT), people can lend by investing in these fractional NFTs. Since these NFTs are backed by real-world assets, they are immune to market speculations and hype, which keeps their prices stable. The platform enables lenders to provide fractional loans to borrowers at a pre-agreed fixed rate of interest. Additionally, lenders will receive a fixed income weekly on Collateral Network (COLT).
COLT is the native token of the ecosystem of Collateral Network (COLT), which comprises Marketplace, Auctions, and Crowdlending. The trading price of COLT tokens during the presale will start at $0.01. According to the promoters of Collateral Network (COLT), the platform will supply a maximum of 1,400,000,000 COLT tokens, and 50% of them will be available during the presale round.
Holders of COLT tokens will get several benefits, such as access to the VIP members club, voting rights, and discounts on borrowing and trading fees.
Find out more about the Collateral Network presale here: