When the value of many prominent cryptocurrencies began to fall in 2022, a majority of investors were hit the hardest.
Two such tokens that had significant price declines in the 2022 crypto winter are PancakeSwap (CAKE) and Uniswap (UNI).
While most digital assets have been showing signs of an ailment that is unlikely to be cured anytime soon, a surprising newcomer, Collateral Network (COLT), has climbed swiftly, having seen price predictions that forecast a colossal 3500% price increase.
Since its introduction in September 2020, PancakeSwap (CAKE) has been slowly losing value. PancakeSwap (CAKE) uses the Binance Smart Chain (BSC) as its backend infrastructure rather than Ethereum’s blockchain.
The BNB Chain’s primary decentralized exchange, PancakeSwap (CAKE), saw meteoric growth in 2021. The PancakeSwap (CAKE) token, which powers the PancakeSwap Defi exchange, attained an all-time high price of $43.96 on April 30th 2021.
However, ever since, PancakeSwap (CAKE) has been falling rapidly. In September of last year, the PancakeSwap (CAKE) coin was valued at over $22 according to statistics from CoinMarketCap. However, the current price for the beginning of 2023 for PancakeSwap (CAKE) hovers around $4.26. A significant amount of its value has been wiped away since its all-time high.
Many PancakeSwap (CAKE) holders looking to hedge their losses are now buying Collateral Network (COLT).
As one of the earliest Ethereum (ETH) blockchain-based decentralized exchanges, Uniswap (UNI) went live in November 2018. There have been several enhancements to Uniswap (UNI) since then.
Traders on Uniswap (UNI) can access their ETH and ERC-20 tokens from a broad range of wallets, such as MetaMask, Fortmatic and Coinbase Wallet.
Since the beginning of 2023, the price of Uniswap (UNI) has increased steadily. As a result, many experts see a bright future for UniSwap (UNI).
If the Uniswap (UNI) price drops just under the $5.7 support level, it will stay below that level until it reaches the $4.6 support level, however, currently, its flourishing at $7.20 so this is not a worry for Uniswap (UNI) holders and are remaining enthusiastic that the coin will continue to succeed on the market.
Collateral Network (COLT)
Collateral Network (COLT) has quickly established itself as the leading challenger lender on a global scale, making it possible for borrowers located in any part of the world to access the funds locked up in their physical assets in a streamlined and hassle-free manner.
Users of Collateral Network (COLT) will, in effect, become their own personal banks, in the sense that they will be able to make fractional loans to borrowers at a predetermined interest rate.
Borrowers, on the other hand, will utilize the actual assets that they have stored on the blockchain in order to have access to cash without having to sell their assets or go through the time-consuming screening that is required by conventional lenders.
This is all possible with the use of fractionalized NFTs, which are minted and backed by the borrowers’ asset, and fractionally sold to lenders as a way to crowdfund the loan. This also means that lenders who invest into the NFT will receive weekly interest payments as the borrower pays the interest off.
The NFT metadata and public blockchain record all contractual information pertaining to every transaction that takes place on the blockchain-based platform. Lenders also benefit from receiving regular payments every week.
Collateral Network (COLT) is without a doubt one of the hottest cryptocurrency projects to get into now. Analysts have even predicted that its price could potentially rise 35x in the next 6 months and the first phase of the Collateral Network (COLT) presale has kicked off with tokens priced currently at $0.01, a price that is appealing to investors and crypto market token holders.
Find out more about the Collateral Network presale here:
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