The crypto market is in turmoil, with the likes of Dogecoin (DOGE) and Aptos (APT) losing significant value over the past few months. This comes as Collateral Network (COLT), a blockchain-based crowdfunding platform, recently announced its presale and analysts forecasted a 35x price surge for the COLT token in this time. Let’s dive into why Dogecoin (DOGE) and Aptos (APT) holders are so disappointed.
Dogecoin (DOGE) is a cryptocurrency based on the famous “Doge” internet meme and was created in 2013 by software engineers Billy Markus and Jackson Palmer. Dogecoin (DOGE) has quickly built a loyal fanbase who like to say “one DOGE is worth one DOGE”, which means that the Dogecoin (DOGE) currency shouldn’t be compared to other coins.
While created as a joke, Dogecoin (DOGE) is actually faster than most other digital currencies. Dogecoin (DOGE) also has much lower transaction fees and can be used for a variety of services, including tipping content creators on platforms, such as Twitter or Reddit.
However, this type of cryptocurrency thrives on the hype generated during bull runs, and the bear market has caused Dogecoin (DOGE) to drop 90% since hitting an all-time high in May 2021.
Aptos (APT) is a new layer-1 blockchain that claims to be faster, more secure and more energy efficient than the likes of Ethereum (ETH), Solana (SOL) and Cardano (ADA). In fact, the team claims that 150,000 transactions per second can be achieved on Aptos (APT).
The Aptos (APT) team met while building decentralized solutions for Meta, which was abandoned in early 2021. The team pooled resources and then went on to launch the Aptos (APT) mainnet early this year. Big investment firms were impressed with this technology, with the likes of Andreessen Horowitz and Coinbase Ventures backing the project.
However, the Aptos (APT) project’s recent listing on exchanges has seen the price of Aptos (APT) drop 64% in just two months. Are the early buyers now dumping on the market? It’s not clear, but Aptos (APT) needs to build investor confidence and start seeing more usage if it wants to recover.
Collateral Network (COLT)
Collateral Network (COLT) is flipping the crowdlending industry on its head by introducing blockchain technology to the traditional lending system. The new system allows people to borrow money against their assets, with those assets represented by NFTs.
Thanks to Collateral Network (COLT), people can get the money they need without having to go through the traditional banking system. Finally, no more credit checks, long wait times and high-interest rates — borrowers receive cash within 24 hours.
For aspiring lenders, Collateral Network (COLT) offers a more secure and profitable investment opportunity. Plus, as all collateral is fractionalized, the loan can be broken down into smaller pieces, allowing lenders to diversify their investments and reduce their risk.
Middlemen have no place in the Collateral Network (COLT) system, as everything is done automatically by smart contracts. Plus, all transactions are stored on a distributed ledger, meaning that the data is immutable and secure.
The final part of the Collateral Network (COLT) system is its native token — the COLT token. Holding these tokens comes with a number of benefits, including reduced fees, rewards for staking and governance rights.
COLT isn’t on the exchanges yet, but Collateral Network (COLT) just entered its presale phase with tokens costing just $0.01 and people are already buying up tokens. As more people become aware of the project and its benefits, the demand for Collateral Network (COLT) tokens is likely to increase — which means higher token prices, with COLT set for a colossal 3500% price rise according to market experts.
Find out more about the Collateral Network presale here: