It has been another momentous week in the world of cryptocurrencies. Bitcoin (BTC) broke through the psychological $30,000 barrier, 20 million discounted COLT tokens were sold in the Collateral Network (COLT) presale as it is now in its second stage, and Cardano (ADA) was at the receiving end of a major boost to its ecosystem.
Collateral Network (COLT)
Collateral Network (COLT) is a Web3 lending platform that allows anyone to obtain loans by using their valuable assets as collateral. Real estate, precious metals and fine wine are a few examples of usable assets. By eliminating the need for middlemen, Collateral Network (COLT) creates direct connections between lenders and borrowers, resulting in a smooth peer-to-peer experience.
To streamline the process, Collateral Network (COLT) transforms assets into minted fractionalized NFTs, which are used in order to fund the loans. This distinctive aspect of Collateral Network (COLT) permits loans to be split into smaller shares, enabling multiple lenders to contribute to a loan and increasing liquidity.
Consequently, nearly anyone can participate as a lender within Collateral Network (COLT) and earn a weekly interest rate income as a result of lending just small amounts of money towards the fractions of the NFTs. Collateral Network (COLT) uses sophisticated smart contracts to facilitate immediate loan transactions in a secure, transparent and cost-efficient manner.
The native COLT token serves as the driving force behind Collateral Network (COLT), promoting user engagement and offering access to exclusive benefits, such as lower interest rates, staking incentives, governance rights and more.
The ongoing Collateral Network (COLT) presale offers COLT tokens at an enticing price of $0.014 until the limited supply is exhausted in stage 2. As Collateral Network (COLT) continues to revolutionize the lending industry, now could be an opportune moment to invest in this transformative platform.
Cardano (ADA)
The Cardano (ADA) ecosystem got another boost this week as another Cardano (ADA) wallet was introduced to the market. The Lace Wallet allows Cardano (ADA) users to stake their ADA tokens directly within the wallet interface.
But that’s not all — Cardano (ADA) Lace users can access and interact with decentralized applications (dApps), send multiple assets to different addresses in a single transaction, store NFTs and more.
The launch of Cardano (ADA) Lace is a major milestone for the Cardano (ADA) ecosystem, as it provides an additional layer of convenience and accessibility for users, and further strengthens the Cardano (ADA) position as one of the leading smart contract platforms.
At the time of writing, Cardano (ADA) is trading at $0.4191, which is a significant 86.4% drop from its all-time high of $3.09 achieved in 2021. The $0.42 price point is serving as a robust resistance for Cardano (ADA). If this barrier is broken, it could set the stage for Cardano (ADA) to potentially reach the $1.00 level within a matter of weeks.
Bitcoin (BTC)
The flagship cryptocurrency, Bitcoin (BTC), continued its bullish streak this week and broke through the $30K barrier for the first time in ten months. This milestone was a long time coming and is indicative of the Bitcoin (BTC) impressive performance since the start of 2023.
But why has Bitcoin (BTC) suddenly decided to take off? The reasons for the Bitcoin (BTC) newfound strength are numerous. The influx of institutional money, growing public awareness, and the ongoing economic uncertainty caused by rising inflation have all contributed to Bitcoin (BTC) rising by nearly 100% in the last three months.
The Bitcoin (BTC) price, at the time of writing, sits at $29,306.26, with a 24-hour trading volume of over $24 billion. Analysts foresee Bitcoin (BTC) moving sideways between $30,000 and $31,000 for a few more weeks until it can break the $31,000 resistance level. When it does, we can expect Bitcoin (BTC) to reach the $40,000 level soon after.
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
