OKB (OKB) looks good for 2023 but only within the OKX ecosystem. Investing in a new coin with a real world use case like Collateral Network (COLT) could yield higher returns.
OKB (OKB) is the utility token of the OKX ecosystem. OKB (OKB) is an ERC-20 token issued by the OK Blockchain Foundation. OKB (OKB) plays a significant role in coordinating all the products and services available for users. Also, OKB (OKB) maintains a buy-back and burn mechanism, which makes the coin deflationary.
Even as a CEX coin, OKB (OKB) is very profitable to holders. They save up to 40% on trading fees, earn passively when they save OKB (OKB), receive tokens of newly listed projects, participate in governance, etc. Additionally, OKB (OKB) is used for DeFi activities and as a payment method for some OKX partners.
Since its launch in March 2018 (at $1 per token), OKB (OKB) has recorded an all time high (ATH) of $44.17 and an all time low (ATL) of $0.58. The use cases mentioned earlier must have propelled OKB (OKB) to the $44.17 peak. However, it didn’t maintain that price for long. OKB (OKB) has seen a downtrend since then.
It is currently down 45% from that point, selling at $23.91 per unit. Another time that OKB scaled up was when it announced plans to list the BNB token. Again, it returned to a downward slope slightly after.
Moreover, the event of FTX’s collapse is not forgotten and as such, investors are still skeptical about putting money in CEX coins. But as OKB tries to expand its uses beyond the OKX ecosystem, the coin may see new highs in 2023.
Collateral Network (COLT)
Collateral Network (COLT) is a new crypto lending platform that utilizes NFTs for loan transactions. Collateral Network (COLT) is hosted on the Ethereum blockchain and it helps users convert their physical assets into cash.
Collateral Network (COLT) creates NFTs to represent the physical assets of users. Then it fractionalizes these NFTs into small parts to enable users to quickly lend them and make extra income; or, use them as collateral to borrow cash.
People who need instant cash can use Collateral Network (COLT) to convert their physical assets to small NFTs, lend them at convenient interest rates, and earn a weekly income. Additionally, people trying to acquire cash loans can use fractionalized NFTs (representing parts of their physical assets) as collateral to receive the money they need.
It then means that all the NFTs on Collateral Network (COLT) are backed by real world assets. Similarly, all transactions performed on the network are recorded on the blockchain for everyone to see. Plus, the smart contract of the network has been audited, so investors are assured of secure activities on Collateral Network (COLT).
Most interestingly, COLT token holders will enjoy discounts on transaction fees and interest rates, staking rewards, voting rights, and more. Also, analysts predict that Collateral Network (COLT) will surge in price by 35x in the next 6 months.
Find out more about the Collateral Network presale here: