Recently, the BTC price has been on the rise, drawing attention around the globe. What makes this even more interesting is that some analysts point to two specific projects, NEAR Protocol (NEAR) and Collateral Network (COLT), as particularly promising.
Bitcoin (BTC)
U.S. security regulators focused on the cryptocurrency sector in 2023 following a scandal-filled 2022. The spectacular collapse of Sam Bankman-Fried’s market made this situation worse. A two-year low for BTC was reached on November 22, 2022, when the value of a Bitcoin fell to $15,480 throughout the business day.
The yearly rise of Bitcoin reached over 40% by the end of February. In contrast to the miserable year 2022, when Bitcoin plunged by almost 64% amid the legendary “crypto winter,” that year saw a dramatic improvement.
As always, some context is required when examining any period of market turbulence in greater detail. Jordan Taylor, a certified financial planner with Core Planning, claims that from January 1, 2023, and February 28, Bitcoin rose by 41%. Bitcoin fell 46% from February 28, 2022, to February 28, 2023.
Bitcoin has struggled to grow after hitting $25,000 in February, and higher benchmark levels will be required in the future to encourage development. The first notable development occurred in the middle of March when prices surpassed $26,000. According to this report, as of April 9th, 2023, Bitcoin’s (BTC) price was 28,392.53 USD.
NEAR Protocol (NEAR)
Our NEAR Protocol pricing forecast for 2023 projects minimum and maximum prices of approximately $2.35 and $5.75, correspondingly. During the same period, the average price of NEAR Protocol might be $4.05.
The NEAR Protocol (NEAR) price has been on an uptrend since the beginning of 2023, raising hopes that it would increase sharply for the rest of the year.
The NEAR Protocol price in 2023 might still be highly overvalued, but a drastic change may only happen once the bear market’s bottom has been reached.
NEAR Protocol currently has a supply of 1,000,000,000 with 884,029,720 in circulation. At the time of writing, NEAR Protocol is priced at $2.18233004 and is up 9.97 over the last 24 hours.
Strong buying interest in cryptocurrency has offset the low volume. The year’s second half may have seen a massive increase in the NEAR Protocol value, potentially renewing a solid bullish trend. The NEAR price may attempt to cross $5 by the end of the third quarter of 2023, and by the end of this year’s trading, it may range between $7 and $8 without exceeding a double-digit number.
Collateral Network (COLT)
Collateral Network (COLT) is a blockchain-based network allowing borrowers to use their physical assets, like cars, real estate, fine wines, etc., as collateral for loans.
The COLT platform allows people and businesses to obtain funds without conventional banking intermediaries by using non-fungible tokens (NFTs) to represent physical assets as collateral. The platform is the first to mint NFTs against physical assets and fractionalizes them, allowing the community to fund loans.
Every physical object borrowers use as collateral is issued a special NFT by Collateral Network (COLT). These NFTs are then fractionalized, allowing them to be funded by multiple lenders. The borrower, the physical object, and the contact are all fully disclosed in these NFTs. To guarantee complete transparency, the data is all contained in the NFT’s metadata on a public blockchain.
In contrast to traditional banking systems, COLT offers a faster, more secure, and more flexible alternative to conventional loan processes. With Collateral Network (COLT), borrowers can access the funds they need quickly and easily, while lenders can enjoy a new level of efficiency and security in their lending practices.
The NFTs are tangible and secure because they are supported 1:1 by real-world physical assets. The Collateral Network’s primary token is the COLT token. (COLT). Holders of this utility token have access to rewards on the network. The coin is currently only worth $0.014, but that price is expected to increase to $0.35.
Team coins have a three-year lockup period to safeguard the network and guarantee its growth. Additionally, the cash in the liquidity pool has a 33-year lockup period.
Notably, a smart contract audit for Collateral Network (COLT) was successful, giving peace of mind. One of the most intriguing initiatives in 2023 is Collateral Network (COLT). Therefore, Collateral Network (COLT) is worthwhile because it has a practical use case, strong tokenomics, and a committed team.
Read more about the COLT presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.
