During his oversight hearing, crypto investors watched Gary Gensler stumble and struggle to answer whether Ethereum (ETH) is a security or a commodity. Gensler and the SEC being reined in by Congress bodes well for crypto markets with fewer worries of regulatory attack.
Chainlink’s (LINK) ecosystem continues to grow, Polygon (MATIC) maintains its strong performance, and a new challenger lender, Collateral Network (COLT), has surged over 40% and witnessed unprecedented presale demand.
Collateral Network (COLT) Sees Massive Demand Throughout Presale
Collateral Network (COLT) has entered the second stage of its presale. This disruptive new physical-asset-backed lender has already sold over 100 million tokens in its presale, showing investors’ roaring appetite for participating in this challenger lender.
Collateral Network (COLT) unlocks the liquidity of real-world assets and is the first decentralized lending protocol for off-chain assets. Integrating real-world assets will push DeFi into another expansionary phase by disrupting an untapped market on the blockchain.
By leveraging a hybrid infrastructure model, Collateral Network brings tangible assets on-chain, first using a valuation process aided by artificial intelligence (AI) and then minting a unique NFT 100% backed by the asset. Asset owners can now collateralize real estate, vintage cars, fine art, rare whisky, and more. The NFT is then fractionalized, meaning multiple individuals are able to fund the loan.
Borrowers now have access to institutional-level liquidity in a discreet and permissionless manner. The asset-backed lending industry is valued at close to $5 trillion annually. Collateral Network is aiming to disrupt this industry, integrating blockchain technology to eradicate bureaucracy and geographical limitations of the traditional industry, pushing it into a new age.
Holding COLT tokens remains the best way to gain exposure to this challenger lender’s upside potential. Judging by on-chain analysis, many investors have already decided to participate in this exciting presale. With price predictions from analysts forecasting 3500% growth for Collateral Network in the coming weeks, now is the perfect time to join this exciting movement.
Chainlink (LINK) Ecosystem Develops
Chainlink (LINK) is a blockchain-agnostic service, and this decentralized oracle network connects smart contracts with external data feeds, bridging the gap between on-chain and off-chain. Chainlink price has rallied more than 10% this week, and the announcement of Chainlink’s spring hackathon taking place in late April powered this optimism.
LINK has introduced a special category for its hackathon, Artificial Intelligence (AI), and traders obviously like the idea of Chainlink’s integrating AI services. Chainlink has also been conducting research into liquidity indicators and continues broadening its services to DeFi.
Analysts remain bullish on Chainlink (LINK), forecasting it will trade between $15.27 and $18.26 in 2024, citing the aggressive expansion of Chainlink’s services.
Polygon (MATIC) Continues to Strong Rally
Polygon (MATIC) remains above the critical $1 range, and as a result, more and more MATIC bulls are stepping in, seeing that the bears do not have the strength to break the support. Polygon’s (MATIC) zk-EVM continues to increase its user base, and Polygon recently released usage statistics.
Polygon reported a 93% increase in total wallet addresses, a 62% increase in bridged ETH, and a nearly 19% increase in deployed contracts. All of these metrics show increased adoption of the mainnet beta and point to a favorable couple of weeks ahead for Polygon (MATIC).
Analysts maintain their bullish stance on Polygon and expect the native asset of the Polygon network (MATIC) will trade between $2.22 and $2.67 in 2024.
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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