It has been another wild week in the world of cryptocurrency. Asia continues to open up to Bitcoin (BTC), Ethereum (ETH) upgrade unlocks $30 billion Ether, and Collateral Network (COLT) sells 20 million tokens during the presale. Of these events, Collateral Network (COLT) is attracting the most attention due to the vast discounts on offer as well as witnessing a 40% surge in price so far to $0.014 in its second stage. Let's take a look at what this all means.
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Picture a future where you can effortlessly convert your tangible assets into instant cash without selling them. Collateral Network (COLT) brings this vision to life by allowing anyone to tokenize their assets as collateral through unique, asset-backed NFTs with a 1:1 ratio.
Take, for example, a scenario where Tom needs $40,000 to construct a workshop. He chooses to use his $40,000 wine collection as collateral via Collateral Network (COLT). The platform then mints an NFT representing his collection and fractionalizes it into smaller portions.
The Collateral Network (COLT) groundbreaking approach transforms lending by allowing multiple lenders to fund a single loan request. Consequently, borrowers on Collateral Network (COLT) enjoy easy access to financing, while lenders can enter the market without traditional obstacles. Lenders also receive a weekly fixed interest rate during the loan’s duration.
Collateral Network (COLT) also features a lucrative staking program for investors seeking to maximize their gains. By staking COLT tokens within the Collateral Network (COLT) wallet, users can generate passive income through COLT rewards, benefit from lower fees, and participate in decision-making regarding the platform's future development.
The enthusiasm surrounding the Collateral Network (COLT) public presale is mounting, with tokens available at only $0.014 each. Considering market experts anticipate a staggering 3500% price increase, making this is an incredible opportunity.
The Bitcoin (BTC) frenzy continues to grip the world, with the Asian markets finally embracing the world's largest cryptocurrency asset. Hong Kong is leading the way, with the government set to make Bitcoin (BTC) trading legal in June 2023. In fact, Hong Kong aims to become a global crypto hub for Bitcoin (BTC) and other crypto assets.
Chinese investors will be able to buy Bitcoin (BTC) by channeling funds through Hong Kong's exchanges, with the Chinese government soon issuing new regulations for digital asset trading. With China's population of 1.4 billion and the world's second-biggest economy, this could be a massive boost for Bitcoin (BTC).
Bitcoin (BTC) is already responding to this news, with the asset reaching $31,000 for the first time in 10 months. The Bitcoin (BTC) bull market is showing no signs of slowing down, with many analysts predicting Bitcoin (BTC) to reach $100,000 by 2024.
The Ethereum (ETH) network is undergoing the Shapella upgrade, which is the next stage of the full transition for Ethereum (ETH) into a PoS blockchain. On April 12th, Ethereum (ETH) validators were finally rewarded with their first rewards, unlocking a total of $30bn worth of Ether.
The Shapella upgrade is considered one of the most significant Ethereum (ETH) upgrades yet, as it solidifies Ethereum (ETH) as the leader in PoS technology. The upgrade is also a big step towards Ethereum (ETH), making DeFi more accessible and secure for users, with the network expected to experience exponential growth due to these improvements.
Price-wise, Ethereum (ETH) is currently trading at $1,983.80 — a seven-day gain of over 12% as it continues its steady climb from its January 1st price of $1,196. Analysts anticipate that Ethereum (ETH) should rise to at least $2,400 during this bull run, possibly even higher.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk