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Analysts have revised price predictions for Solana (SOL) after the launch of Saga, the Solana (SOL) mobile.Meanwhile, XRP (XRP) remains flat, its price not helped by a recent Forbes article, and a new lending protocol Collateral Network (COLT) expects an imminent 3500% price explosion.
Solana (SOL) Price Prediction
Solana (SOL) has undoubtedly undergone a turbulent six months, and public sentiment has varied drastically on the project’s future. The low in sentiment and price coincided following huge sell-offs driven by the FTX fallout and Alameda insolvency- both prominent early backers of Solana (SOL).
However, analysts have steadily regained a bullish attitude predicting that Solana (SOL) will trade between $45.29 and $52.06 by the end of 2024. This marks more than a 2X gain from Solana’s (SOL) current price point.
Solana’s (SOL) development team has not stopped working and deploying despite all of the FUD. Solana (SOL) recently held the launch event for Saga, its new Web3 phone, and Solana (SOL) has been the first major layer one chain to produce a physical product. Will it cause Solana (SOL) to rally? Not likely, but it displays the team’s attitude to constantly innovate and push boundaries, which will likely cause Solana (SOL) to resume an uptrend.
XRP (XRP) Struggles to Gain Momentum
XRP (XRP) has been struggling, and after making a strong rally in March driven by rumors that XRP (XRP) could potentially win its case against the SEC, XRP (XRP) retraced and has stayed flat.
Forbes recently published an article criticizing XRP (XRP), citing data from XRP’s (XRP) partner Tranglo suggesting customer adoption is lagging. This is bad news for XRP (XRP); to some extent, XRP (XRP) has been a victim of the changing crypto landscape.
When XRP (XRP) first launched in 2012, its solution to cross-border payments was innovative and significantly improved the current SWIFT model. Transactions were faster and cheaper, but with the advent of stablecoins, XRP’s (XRP) services have lost their appeal.
When remittances or international transfers can be made with stablecoin, holding XRP (XRP) adds an unnecessary step into the process. Price predictions remain muted, with a meager high of $0.76 expected this year.
Collateral Network (COLT) Eyes Huge Move to the Upside
Collateral Network (COLT) is a new DeFi lending protocol specializing in unlocking liquidity for real-world assets. Collateral Network (COLT) is expected to rally 3,500% in the coming weeks before the project’s presale closes: why?
Collateral Network (COLT) introduces a new way of lending, via tangible off-chain assets, broadening the scope of its user base. Additionally, the protocol challenges the DeFi asset-backed lending industry, which is notoriously bureaucratic and often limited in terms of location.
Collateral Network (COLT) leverages 100% asset-backed, fractionalised NFTs to onboard real estate, vintage cars, jewelry, gold, and more into DeFi. The owner of the NFT can then access institutional-level liquidity on the platform, and on the other side, lenders have a platform where they can earn a steady yield.
COLT is the native token and will allow holders to access private auctions where distressed assets will be sold and entitle holders to discounts on the platform, along with staking. Currently priced at just $0.014, COLT has already risen by 40% and is set to explode by up to 3500% in the coming weeks.
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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