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Many cryptocurrencies have started to decline after an explosive start to the new year. The upward momentum shows signs of waning, fueling concerns that last year’s bear run is far from over. Nevertheless, EOS, Litecoin (LTC) and Collateral Network (COLT) are some coins set for a price increase in 2023.
Collateral Network – Expected Gains
While the Collateral network is still in presale, analysts are already projecting gains of up to 35x, owing to the strong interest the project continues to elicit. As the world’s first non-fungible token (NFT) based crowdlending platform, it is on the cusp of revolutionising borrowing and lending. By doing away with intermediaries, Collateral Network makes it easier for borrowers to access loans easily through a Web3 peer-to-peer lending platform.
Collateral Network has already established a decentralized platform where people with assets can mint non-fungible tokens. The NFT tokens are to be fractionalized and backed by the physical assets on a 1 to 1 ratio. The value of the assets used in the minting of the NFTs is to be determined using artificial intelligence technology.
Lenders looking to offer fractionalized loans to earn interest on the loan will only have to purchase the fractionalized NFTs. They will earn a fixed weekly income depending on the agreed interest rate on the fractionalized loans.
The decentralized web3 peer-to-peer lending platform will be transparent, with all contractual information stored in an immutable blockchain, where it cannot be altered or deleted. In addition, the DeFi platform makes it easy for investors to target lenders in multiple blockchains. Additionally, borrowers will have their identity and personal information securely stored without leaving any footprint.
COLT is the utility token poised for significant price gain as people resort to the decentralized platform for crowdlending. In addition, the token offers a string of perks, including discounts on borrowing fees and competitive interest rates for borrowers. Lenders also stand to enjoy low trading fees on the network.
The collateral network has enabled staking too, allowing COLT token holders to earn some passive income by staking their tokens. In addition, token holders will be able to access private auctions of distressed assets, which they can purchase at below market value.
Litecoin – Enhancing Crypto Transactions
Litecoin emerged in 2013 as a faster, cheaper, and more scalable alternative to Bitcoin. After an impressive rally to record highs of $416 a coin in 2017, its native token LTC has come under pressure in recent years. In 2022 it imploded by 53%. However, it has started recouping the losses and is up by 20% for the year.
The token’s primary goal is to enable low-cost and super-fast transactions on the blockchain. As a result, it boasts of one of the highest and healthy adoption rates in the mainstream sector, processing more than $1 trillion in transactions on its blockchain.
Amid increased cryptocurrency transactions, Litecoin is well-positioned to be one of the biggest beneficiaries. In addition, the LTC coin is poised to receive a significant boost sometime in August when Litecoin undergoes halving.
The halving event is expected to result in the halving of the reward miners receive from mining a block. The halving is expected to make the LTC coin scarce, thus, less inflationary over time. Theoretically, this is expected to boost LTC price.
EOS for dApps and Smart Contracts
EOS is another crypto destined for significant price gain in 2023. The crypto is already up by more than 50% for the year as coins continue to bounce back from last year’s bear market. The coins stellar performance has to do with EOS rivalling Ethereum in developing decentralized applications dApps.
In addition, the project’s EOSIO smart contract functionality is poised to make it easier for developers to create and launch decentralized applications, strengthening the project’s competitive edge.
The EOSIO blockchain offers feeless transactions, causing EOS developers to prefer this blockchain to other blockchains with high trading fees and congestion issues. The EOS blockchain can handle up to 4,000 transactions per second, making it a perfect fit for decentralized finance.
Bottom Line
It’s becoming increasingly clear that the bear run that began last year is far from over. Amid the recent pullback, Collateral Network is one project destined for a significant price increase due its ambition to revolutionize crowdlending. Furthermore, Litecoin’s bid to enhance peer-to-peer transactions and EOS’s drive to enhance dApps creations affirm their long-term prospects.
Find out more about the Collateral Network presale here:
Website:https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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