Presale Run of Collateral Network (COLT) Price Surges as Tezos (XTZ) and Dogecoin (DOGE) Rally Stalls
Collateral Network (COLT), a hybrid crowdlending platform that utilizes blockchain technology and physical assets to facilitate lending, has raised approximately $250k in the first few weeks of its presale by allowing borrowers to obtain loans against their tangible assets. The network accepts and authenticates the physical assets of borrowers like fine art, rare whisky, supercars, etc., mints NFTs that represent the assets, and enables lenders to lend funds by purchasing these digitized NFT fractions of the real-world items with small sums of money. The network eliminates middlemen, bringing transaction fees down and mitigating fraud. Collateral Network (COLT) is powered by COLT tokens, and COLT holders will receive a range of benefits, including voting rights, discounts, and staking rewards. Currently, the market value of COLT tokens for the ongoing first presale phase is $0.01, and it is expected to see a surge of 35x by the end of the presale. Investors have shown more interest in tangible utility projects, and Collateral Network (COLT) offers a unique use case that differentiates it from Tezos (XTZ) and Dogecoin (DOGE), which have not performed as well recently despite introducing new developments and upgrades.
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