Bitcoin to break $28K Collateral Network Sells 160 Million Tokens, and Pepe (PEPE) Loses $1B Market Cap

In today's crypto update, we discuss Collateral Network's (COLT) successful sale of 160 million tokens during its presale phase, highlighting strong demand for this innovative DeFi project. Meanwhile, Bitcoin (BTC) breaks $28k after CPI news, and Pepe (PEPE) loses a staggering $1B market cap as prices continue to decline.

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Collateral Network set to revolutionize the lending market

Collateral Network represents a groundbreaking approach to lending, leveraging blockchain technology to create an entirely new experience for borrowers and lenders alike. The Collateral Network platform empowers people to secure loans using a diverse array of valuable items, such as jewelry, fine art, or luxury watches, as collateral.

In the Collateral Network system, these tangible assets are converted into digital NFTs and then subdivided into smaller ownership stakes. Collateral Network's creative method enables numerous investors to pool their resources and fund a single loan, creating more opportunities for all parties involved.

Collateral Network also streamlines the whole loan process with smart contracts, which automatically manage payments and fees. InterFi and SolidProof are used to audit the smart contract code to ensure accuracy and security. Plus, COLT token holders will experience preferential loan conditions, interest-free lending options, and attractive staking rewards.

COLT tokens are available for purchase at just $0.014 each in this time-limited first phase of the presale. As the value is anticipated to climb to $0.051 by the tenth stage, early investors have a unique opportunity to capitalize on gains before Collateral Network launches and disrupts the $4.9 trillion global lending industry.

Bitcoin price analysis

Bitcoin and other cryptocurrencies have shown a strong reaction to the release of Consumer Price Index (CPI) data, which came in just below estimates. As of now, the Bitcoin (BTC) price is regaining momentum and moving closer to the $30,000 mark.

The CPI, a key measure of inflation, was reported at 4.9% year-on-year, slightly below the anticipated 5.0%. This indicates a continuing trend of decreasing inflation in the U.S., in line with both Federal Reserve and external predictions.

The Bitcoin market already anticipates a pause in interest rate hikes next month. A pause in rate hikes is generally favorable for risk assets, including Bitcoin, as easing financial conditions tends to increase investor appetite for risk.

It remains to be seen if Bitcoin can sustain its rally or if this pump is short-lived. The $27,000 level is a key support level, and a breach below this could lead to a big downward move toward $24,000. 

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Pepe displays major price decrease

The unpredictable and volatile nature of the crypto market has once again been demonstrated by Pepe, a new meme coin that has seen a significant decline in its market cap. Over the last five days, Pepe has lost 56% of its value, which equates to a billion-dollar reduction in Pepe's total market capitalization.

From May 6 to May 10, Pepe saw its price tumble from a peak of $0.00000431 to $0.000001611. This precipitous drop led to Pepe's total valuation falling from $1.82 billion at its peak on May 6 to a current value of $631 million.

The development team behind Pepe has been transparent about the token's nature, stating outright that Pepe is "completely useless". Despite this, or perhaps because of it, investors have shown an interest in Pepe. The humor and irony behind a "useless" token achieving such a high market cap may be an appealing aspect for some investors.

For more information on Collateral Network visit the website, join the presale or join the community for regular updates.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/ 

Presale: https://presale.collateralnetwork.io/register

Telegram: https://t.me/collateralnwk 

Twitter: https://twitter.com/Collateralnwk