Place/Date: - May 8th, 2023 at 12:51 pm UTC · 3 min read
Source: Collateral Network
First Republic Bank is the latest bank to require a bailout after several collapses in the last month. While these banking failures are bad for fiat currency, they have resulted in an influx of investors to the crypto market. Projects like Solana (SOL), Baby Doge Coin (Baby Doge) and Collateral Network (COLT) are now capitalizing on this influx, attracting thousands of investors and offering great returns in the process.
Collateral Network (COLT) has been praised for its great utility by early investors. The project looks to influence the multi-trillion-dollar crowdlending market with DeFi technology.
The current market is extremely outdated making it time consuming, resource intensive and inconvenient from start to finish. Using Collateral Network on the other hand, borrowers can unlock cash from their assets in just 24 hours without needing a credit check or endless paperwork.
To get started, Collateral Networt values an asset using AI then mints the asset as a NFT that is then fractionalized. Lenders on the platform can then buy NFT fractions to fund the borrower’s loan. Lenders will be rewarded with a fixed passive income, allowing them to operate like their own bank.
COLT tokens, which currently stand at $0.014, are predicted to rise to $0.35 during the Collateral Network presale, with a further 100x price rise once COLT tokens hit mainstream exchanges. This exceptional return, alongside a plethora of holder benefits has made Collateral Network a highly sought after project that’s expected to remain unimpacted by banking turbulence.
Baby Doge Coin (BabyDoge) has built a huge following of 1.9 million followers on Twitter, and looks to become more than just another memecoin. The project has great utility and has donated over $100,000 to charity while creating awareness around animal adoption.
At the same time, Baby Doge Coin is diversifying its use cases with the development of a BabyDoge swap and now a BabyDoge virtual card, which can be used to make digital payments.
In the last 24 hours, Baby Doge Coin (BabyDoge) trading volume has exploded, increasing by 112.05% to $16,457,193 at the time of writing. This rise has been triggered by the release of the BabyDoge virtual card as well as general memecoin hype created by the recent Pepe rise.
If Baby Doge Coin (BabyDoge) is able to successfully continue this momentum, its value is predicted to rise exponentially according to market experts. That being said, BabyDoge is still riskier than alternative investments such as Solana (SOL) and Collateral Network (COLT), which are more likely to offer more stable returns throughout the current banking downturn.
Solana (SOL) is experiencing an upwards trend as its value increased by 2.38% in the last 24 hours. One Solana (SOL) is currently worth $22.38 and daily trading volume has averaged over $300 million.
Doubling down on its recent NFT upgrades, Solana (SOL) announced it will launch a new NFT competition called the NFT Showdown. This competition will provide Solana NFT artists with the opportunity to build sustainable business plans, with projects designed to influence fashion, entertainment, gaming and Solana being prioritized.
This could have a huge impact on the wider NFT space while taking Solana’s influence on the market to new highs. As a result, Solana (SOL) is unlikely to be affected by the current banking crisis.
Find out more about the Collateral Network here: Website, Presale, Telegram, Twitter.
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.