This week, the Shiba Inu (SHIB) project announced when the Metaverse would launch, Collateral Network (COLT) moved closer to launch, and Cardano (ADA) released a new wallet. Of these stories, Collateral Network (COLT) is attracting the most attention during the presale as it is being tipped for 35x returns. Let’s take a closer look at each of these news items.
Collateral Network (COLT): a new era of peer-to-peer lending
Collateral Network (COLT) is ushering in a new era of lending and borrowing, providing a more efficient, secure, and versatile alternative to conventional asset-backed lending procedures.
With Collateral Network, borrowers can swiftly and effortlessly obtain the capital they require, while lenders can experience heightened efficiency and security in their lending activities. This is all done on-chain and is currently the only lending protocol of its kind in crypto.
Collateral Network enables borrowers to pledge their assets as collateral, which are then transformed into NFTs that are then fractionalized. This tokenization process allows multiple lenders to each contribute fractions of a loan.
The platform uses sophisticated smart contracts to eliminate the need for intermediaries and other centralized entities, facilitating faster and more secure transactions. Furthermore, the NFTs’ metadata contains loan information, ensuring the loan terms are transparently agreed upon and enforced.
Powering all transactions on the platform are the COLT utility tokens. During its presale phase, COLT is available for purchase at only $0.014, allowing users to grab COLT at rock-bottom prices before it launches on top exchanges. Analysts are predicting that the COLT price could be 100x by the time the tokens list.
Shiba Inu (SHIB)’s developers have announced that the highly-anticipated Shiba Inu (SHIB) Metaverse project will open to users by the end of 2023. This ambitious project aims to create a virtual world where users can interact, trade, and create value within the Shiba Inu (SHIB) ecosystem.
Shiba Inu (SHIB)’s entry into this domain signals the popular meme-based cryptocurrency’s intent to capitalize on this growing trend and expand its user base. The Shiba Inu (SHIB) team doesn’t seem to stop, as they also announced that the Shiba Inu (SHIB) Shibarium — a layer-2 protocol for the Shiba Inu (SHIB) blockchain — is also set to launch in 2023.
Shiba Inu (SHIB) has experienced a significant surge in value since the beginning of 2023, with its price increasing by over 35%. Currently trading at $0.000011, the token boasts a market capitalization of more than $6.5 billion, making it one of the most prominent meme-based cryptocurrencies in the market.
Cardano Lace Wallet
IOG (Input Output Global), the development company behind Cardano (ADA), has released the Lace Wallet, a new addition to the Cardano (ADA) ecosystem. The Lace Wallet is a user-friendly, secure wallet designed to provide an intuitive experience for Cardano (ADA) users to manage their ADA tokens.
One of the standout features of the Lace Wallet is the ability for Cardano (ADA) users to stake their ADA tokens directly from the wallet. By staking ADA, users can contribute to the security and decentralization of the Cardano (ADA) network while receiving rewards for their participation.
Cardano (ADA) is trading at $0.41 — almost 86% lower than its all-time high of $3.09 reached in 2021. The $0.42 level is strong resistance for Cardano (ADA). A breach would pave the way for Cardano (ADA) to test the $1.00 level within weeks.
Read more about the COLT presale here:
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