As most veteran traders know, infusing in innovative projects with excellent long-term upside potential and real-world use cases during their beginning stages is a surefire hit down the road.
For this reason, Collateral Network (COLT), currently in its presale stage, has recently made headlines in the crypto world. With some experts predicting it could surge by 3500% soon, let’s see how this hidden gem stacks up against prominent cryptos such as Enjin Coin (ENJ) and Gala (GALA)!
Enjin Coin (ENJ)
After Bitcoin (BTC) passed the $30,000 mark earlier last week, many cryptos, including Enjin Coin (ENJ), saw a jump in their value. At the moment, Enjin Coin (ENJ) is trading hands at $0.4255 with a market cap of $425M, an increase of 3% in the past 24 hours.
Santiment statistics show that long-term Enjin Coin (ENJ) holders are under increasing pressure to sell. This pressure could cause a further Enjin Coin (ENJ) price decline in the upcoming weeks. The technical analysis for Enjin Coin (ENJ) shows a neutral sentiment, with its moving averages showing buy signals but its technical indicators in the red.
If Enjin Coin (ENJ) surpasses its resistance level of $0.45 soon, experts predict it could jump to $0.60 by the end of 2023. However, if a sell-off occurs, Enjin Coin (ENJ) may fall to its support level of $0.33.
Gala (GALA) and Huobi recently partnered strategically to add new projects to the Gala (GALA) ecosystem. Not only that, this Gala (GALA) and Huobi partnership will also bring $50M to victims of the pGala scheme.
This news, combined with the general bullish outlook after Bitcoin (BTC) passed $30,000, has increased the Gala (GALA) value to $0.04296, jumping by 6.84% overnight. The trading volume for Gala (GALA) has also soared by 110%, now at $226,037,958.
We can also notice a neutral sentiment for the Gala (GALA) by looking at its technical analysis, which shows a mixture of technical indicators showing buy and sell signals. But, even if Gala (GALA) manages to see further price growth, analysts predict it will not be significant as they see it rising to its resistance level of $0.06 by December 2023.
Collateral Network (COLT)
By creating the first Ethereum-based peer-to-peer lending platform, Collateral Network (COLT) aims to overhaul the lending industry and bring blockchain technology benefits to borrowers and lenders!
On this one-of-a-kind platform, those needing short-term loans can now use alternative assets such as cars, diamonds, and fine wine as collateral. Anyone may send the asset to Collateral Network (COLT), which will then mint a 100% asset-backed NFT and store it on-chain. Afterwards, this NFT will be fractionalized, and the Collateral Network (COLT) community can buy a portion.
With this process called fractional lending, lenders will essentially become mini banks as they fund the loan requested by the borrower for a predetermined interest rate paid out every week.
Blockchain technology will also allow for all the contractual information to be stored in the metadata of the NFT, which cannot be changed or removed – ensuring a transparent and trustworthy environment for all parties involved!
With all these features, it is no wonder that its native token, COLT, has already surged to $0.014 from its initial presale price of $0.01. For this price, holders will obtain governance voting rights, passive income through staking, and access to auctions for distressed items. Also, experts predict COLT could reach $0.35 in the next few months.
With these excellent fundamentals and long-term growth potential, tokens are selling out rapidly as buyers rush to obtain a 40% deposit bonus ahead of major exchange listings for the token.
Find out more about the Collateral Network presale here:
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.