Place/Date: - May 28th, 2023 at 9:00 am UTC · 4 min read
Source: Collateral Network
Bears have once again taken over Polkadot (DOT) as its price continues to decline. The same negative price action has also been observed in the price of Avalanche (AVAX), which has suffered a massive drop in the last few days. Meanwhile, all expert analysts are pointing at Collateral Network as the most promising option following the new token’s 40% gains, with predicted 3500% gains during the presale.
So, what’s driving attention from Polkadot and Avalanche to Collateral Network?
An analysis of the price of Polkadot in the last week shows that DOT is currently making losses again. Polkadot, however, made an attempt to go bullish in the last few days, but the bears took over again and caused its price to go down to $5.69. The bearish pressure on Polkadot (DOT) continues to persist up to the moment.
At the time of writing, Polkadot (DOT) has reported a loss of $0.7 in the last 24 hours. The DOT trading volume has gone up by 11.54%.
The increased selling activity has made the price of Polkadot (DOT) sink further despite the buyers’ attempt to revive it again. It is also worth noting that the current bearish trend is also being experienced by other coins as well.
Judging by the current trend, the price of Polkadot may continue to drop further in May. It is likely that DOT will go below $5.2 and probably find support at $4.2 this month, which is why many of its investors have started eyeing other promising ventures, such as Collateral Network.
Avalanche is still struggling to go green again, even after their recent Cortina Mainnet Rollout. A closer look at Avalanche shows that it is currently undergoing a volatile downtrend. AVAX’s price has so far dropped to $17.01 at the time of writing.
For the last week, Avalanche has been trading at the $17 level with no signs of recovery. This comes after AVAX had a sudden reversal last month after hitting $21 and then dropping to find support at the $16 level. Despite the opportunity to buy Avalanche at a lower price, the bulls have not yet made a serious comeback.
Investors are optimistic about Avalanche making massive gains again in the near future, but the buying volume is still quite low at the moment. Avalanche could also be building up for an upward breakout and make a significant recovery in the next few weeks, but it is still bearish-neutral.
Following the current dismal performance of both Polkadot (DOT) and Avalanche (AVAX), investors are now switching to more promising projects such as Collateral Network.
Built on the Ethereum blockchain, Collateral Network is a decentralized peer-to-peer platform that aims to democratize the traditional lending industry and overcome the sector’s numerous limitations and entry barriers.
Collateral Network makes it possible for users to unlock liquidity using their physical assets, such as real estate, cars, fine art, and luxury watches, as collateral. To do that, borrowers need to send the physical asset to the platform, which authenticates the asset. Once the item is authenticated, the platform mints an NFT that represent the value of the asset. Each NFT is further fractionalized into smaller pieces, allowing multiple people to lend money for a single loan. The fractionalized NFT approach makes the borrowing and lending process faster and simpler than in banks and other traditional lenders.
Lenders on the platform benefit from a weekly passive income derived from the loan´s interest. This way, they become their own mini banks and add a new investment asset that is further diversified, as lenders can lend money to a variety of loans.
The COLT token, which is in the first stage of its presale, has numerous benefits for its holders. COLT holders will benefit from governance rights in the platform, discounts on trading/borrowing fees, and access to auctions of distressed items. So, the best moment to acquire COLT tokens is now. They are currently available at $0.014, already 40% up from their original price, and with a limited 40% deposit bonus offer.
COLT has great growth potential, given that the asset-lending sector will be worth $1,721.38 billion by the year 2031. The COLT token is predicted to grow by 3500% before being listed in major exchanges and by 100x further once it hits the main crypto trading platforms.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
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