MultiversX (EGLD) And Solana (SOL) Lose Pace As Collateral Network (COLT) Thrives

Wild fluctuations in volatility are ongoing in the crypto market. While tokens like MultiversX (EGLD) And Solana (SOL) appear to be the latest victims of crypto volatility, Collateral Network (COLT) continues to thrive according to expectations of a 35x price increase.

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Collateral Network (COLT) Thrives Against Expectations

Although Collateral Network (COLT) is a relatively recent entrant into the crypto industry, it has garnered enormous interest, particularly given how it consistently gains popularity in the chaotic market above and beyond many expectations. 

As a decentralized crowdlending platform, Collateral Network (COLT) provides a haven for borrowers in need of capital who have been stifled with high interest rates, lengthy  credit checks and the endless hassle of paperwork that comes with borrowing by traditional means. Borrowers can now use the platform to unlock capital from their physical assets, like luxury sportscars, watches, real estate and much more. 

This is made possible by the use of fractionalized NFTs, which are minted and backed 1:1 by the borrower's physical asset. Lenders can then collectively fund the loan via these NFTs, earning fixed interest rates for their capital.

COLT enables holders to enjoy benefits like governance rights, discounts on the platform and even staking rewards. 

The COLT token was only recently made available to the general public via the presale, but it has already performed impressively. Although the presale starting price is initially $0.01, the token's value has been predicted to surge by 35x, highlighting the impressive reputation the coin is building.

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MultiversX (EGLD) Lose Pace

The MultiversX (EGLD) initiative uses blockchain technology to offer quick and safe transactions. Because of its ground-breaking technologies and strong relationships, the MultiversX (EGLD) project has become well known. The initiative, though, could have done better lately.

In contrast to a great number of crypto tokens which have been trading in the green over the past few weeks, MultiversX has done the reverse, losing pace in the process. MultiversX (EGLD) has plummeted after experiencing growth in the early weeks of 2023. 

The value of MultiversX (EGLD) has been on a steady decline recently, while the project is yet to garner substantial traction. MultiversX (EGLD) had a price action of $41.25 at the time of this report, down 3.12%. MultiversX (EGLD)'s market cap of 1,039,085,559 has decreased by 2.92% as well.

Solana's (SOL) Price Movement Completely Derailed

The enormous wave of bearish trends that seems to be affecting tokens recently appears to have claimed Solana (SOL) as yet another casualty. Price movement for Solana (SOL) has now completely gone berserk. 

Due to the downturn, Solana (SOL)'s market capitalization and 24-hour transaction volume have plummeted by 2.85% and 3.38%, respectively, to $7,763,829,826 and $256,686,391. Moreover, the token is currently worth $20.22. This dip can be linked to Solana (SOL) investors' propensity to liquidate their holdings during an exchange downturn in anticipation of more market falls.

Solana (SOL), hailed as one of the most flexible Layer 1 protocols, seeks to unseat Ethereum (ETH) as the leading hub for smart contracts. Solana (SOL) was developed to function similarly to Ethereum and to be its upgrade. 

By combining a unique form of proof of history with the delegated proof of stake, Solana (SOL) offers much faster transaction speeds than its primary contemporaries, Ethereum and Cardano, at a lower cost.

Find out more about the Collateral Network presale here:

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

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

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk