The general crypto market is on a downward trend. Popular coins like Arbitrum (ARB) and Dogecoin (DOGE) have slowed down, dropping by more than 6% in the past seven days. Meanwhile, Collateral Network (COLT), a new lending protocol, has gained unparalleled attention during its presale, with a 3500% growth prediction.
What is Arbitrum?
Arbitrum (ARB) is an Ethereum L2 scaling solution. Arbitrum uses optimistic rollups to improve speed, scalability, and cost-efficiency. Also, Arbitrum users enjoy higher throughput, low fees, and security. The Arbitrum (ARB) token is used for governance.
Interestingly, new dApps have been emerging on Arbitrum to boost its utility. But like most L2 protocols, Arbitrum is relatively new, and so, the price of its token is still seeking stability. Arbitrum (ARB) attained its ATH price of $11.80 last month but has quickly slipped by more than 85% to its current level.
Should you accumulate Dogecoin?
Dogecoin (DOGE) relies on hype from its large community of supporters to witness a change in value. Also, Elon Musk, the chief supporter, influences a rise in the price of Dogecoin whenever he tweets about it.
On April 26, Crypto News Flash reported that the billionaire is establishing a new Artificial intelligence (AI) company known as X.AI Corp that will directly compete with the popular OpenAI. Surprisingly, Dogecoin is yet to feel the impact of this news.
Meanwhile, Billy Markus, the creator of Dogecoin, has shed light on his current views and involvement with the cryptocurrency. As reported by U.Today, Markus stated that he doesn’t represent Dogecoin and has not been professionally involved with the cryptocurrency since its creation 10 years ago.
Also, he explained that he was not jealous of the success of other coins, as some have assumed. Besides, he created Dogecoin to poke fun at the ‘stupid’ cryptocurrency scene, which Markus believes has become even ‘stupider’ today.
Dogecoin (DOGE) is currently trading at $0.079, a 9% decrease in the past seven days. Little wonder, holders are seeking more promising projects like Collateral Network (COLT).
Collateral Network (COLT) is revolutionizing the lending industry
Collateral Network (COLT) is a new lending platform that revolutionises the lending industry and creates new ways to unlock liquidity. The Collateral Network platform allows borrowers to leverage their physical assets as collateral to unlock liquidity. Whether it’s gold, real estate, watches, vintage cars, etc., users can pledge their assets and receive a loan within 24 hours.
When a user pledges their physical assets on Collateral Network, the assets are locked in a secure vault, and NFTs are minted to represent them. Thus, these NFTs are 100% asset-backed, making them an ideal opportunity for lenders. Furthermore, the NFTs are fractionalized, allowing multiple lenders to fund the loan with small amounts of capital.
For example, if George owns a gold watch worth $80k, the team at Collateral Network will value the watch and mint an NFT to represent it. Next, this NFT is divided into smaller fractions, enabling many lenders to fund George’s loan. Once the loan is repaid, the NFTs are burned, and George’s watch is redeemed from the Collateral Network vault.
This innovative solution is both secure and efficient. Plus, experts are predicting that the COLT token will surge by 3500% soon. Interested holders can get in early by purchasing the token from the ongoing presale at $0.014.
For more information on Collateral Network, visit the website, be part of the presale or be part of the group for normal updates.
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