Throughout the Web3 space, investors and traders are greeted with over 23,000 projects to pick from. As such, staying in the loop and knowing what to look for is essential to building a broad, varied and profitable cryptocurrency portfolio.
There are three cryptocurrencies that we are going to look at today, and those include Cronos (CRO), Hedera (HBAR) and Collateral Network (COLT). Collateral Network (COLT) has been specifically eyed by investors as a project primed to reach 35x in value, and we will compare it to the other two cryptocurrencies to see how it stacks up.
Cronos (CRO) Labs hosted a panel at Game Developers Conference (GDC), noting how the gap between Web3 and Web3 gaming could be bridged together. At the panel, they noted how more studios than ever before recognize the blockchain market as a standalone market.
Despite the optimistic outlook, the value of Cronos (CRO) has been decreasing. As of March 28th 2023, Cronos (CRO) was trading at $0.066701. Its all-time high was on November 24th 2021, when it reached $0.965407. Here we can see that Cronos (CRO) is now trading at 93.09%, under its all-time high. In the previous seven days, Cronos (CRO) also decreased by 7%, and in the last 30 days, this decrease was at 16%.
If Cronos (CRO) does not correct its momentum and carries on with this downward trend, Cronos (CRO) can decrease to $0.05. Investors and traders who are pessimistic about its future are diversifying with other altcoins.
Throughout the official Twitter page, Hedera (HBAR) announced that the mainnet reached a record 6,000,000,000 (6 billion) transactions. The Hedera (HBAR) team praised the ever-growing community that is showcasing the true potential of Web3 and its utility.
Despite the huge milestone, the value of the Hedera (HBAR) cryptocurrency has been in decline as well. As of March 28th 2023, Hedera (HBAR) was trading at $0.059107. Its all-time high was on September 15th 2021, at $0.569229. In the last seven days, Hedera (HBAR) decreased by 4.7%, and in the last 30 days, this decrease was at 21.2%.
With this in mind, Hedera (HBAR) is headed towards a value of under $0.05 if Hedera (HBAR) does not correct its momentum, and it is no wonder why investors might be inclined to look elsewhere for high-growth alternatives.
Collateral Network (COLT)
The Collateral Network (COLT) project aims to establish the first Peer-to-Peer (P2P) lending platform that can enable anyone the ability to use valuable, physical assets that they have and turn them into non-fungible tokens (NFTs), through which they can then get loans on top of the platform.
The goal of Collateral Network (COLT) is to disrupt the lending industry by bringing it into the digital era, and this is achieved by making real-world assets available on top of a blockchain network. In regards to the underlying technology, Collateral Network (COLT) is built on top of Ethereum (ETH) and utilizes NFTs and fractionalization to achieve its goal.
Borrowers on top of Collateral Network (COLT) will be able to borrow against their physical assets digitally. So if a person has a valuable asset, they can send it to Collateral Network (COLT), after which the team will authenticate and accurately value the asset in question. The asset then gets stored in a vault, and an NFT is minted that represents the asset in question.
Then, this NFT would get fractionalized, which means that it would get split into smaller pieces, where anyone would gain the ability to assist in funding the loan and lend smaller amounts of money for an agreed-upon, fixed rate of interest throughout a specific time frame. The borrower can repay the loan and the accumulated interest, and afterward, the NFT would get burned, and the asset would get redeemed from the vault. There are also auctions, where COLT holders can purchase assets at a discount if the loan is not repaid back to the lenders and defaults.
As for the Collateral Network (COLT) native cryptocurrency, COLT, is used for staking and governance and allows holders access to reduced borrowing costs and price cuts on specific trading fees.
During its first presale stage, COLT is available at a price of only $0.01. Analysts believe the token can climb to $0.35 in the upcoming months, indicating that it is one of the best cryptocurrencies to add to an investment portfolio in 2023.
In addition, the token’s smart contract has been fully audited, and the team tokens will be locked for 2 years, while the liquidity pool will be locked for 33 years.
Find out more about the Collateral Network presale here:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.