While ApeCoin (APE) fails to stabilize its price despite its staking feature success and Cardano (ADA) founder and token both seem to be in trouble, Collateral Network (COLT) has risen as an innovative solution in the crypto arena. Collateral Network (COLT) has demonstrated a positive future full of growth with a token price of just $0.01, making it an ideal investment for 2023.
ApeCoin (APE) staking feature gains approval of users
ApeCoin (APE) is a governance and utility token in the APE ecosystem, which enables and rewards a decentralized community forming at the vanguard of Web3. Recently, ApeCoin (APE) introduced the much-awaited staking feature for its users where they can stake their tokens or BAYC/MAYC NFTs on the website.
ApeCoin (APE) also set aside 175 million coins to give as staking rewards to users over a period of the next three years. On the day of this staking feature launch, ApeCoin (APE) garnered a massive number of tokens worth around $32 Million. This launch also led to a 6% increase in the price of ApeCoin (APE) at that time. However, this rally didn’t last long as ApeCoin (APE) is now down with a price of $5.60. The 2023 predictions for ApeCoin (APE) suggest that the token would range between $5.2 to $7.8, which is not a satisfactory growth rate for investors.
Cardano (ADA) founder gets on bad side of NFT community
Cardano (ADA) founder, Charles Hoskinson, has recently found himself in controversy and has ended up on the bad side of the NFT community. Cardano (ADA) founder changed his Facebook and Twitter display picture to an NFT but didn’t actually buy the NFT. This didn’t go down well with many in the NFT space and they took to Twitter to condemn him, and the Cardano (ADA) project, and told him to set an example by buying NFTs.
The Cardano (ADA) project, in return, justified his actions by saying that the owner of the NFT didn’t mind him using the picture and it also increased the value of the owner’s work. This has led to further condemnation of the Cardano (ADA) founder as right-clicking and saving NFTs has already been a sensitive issue for the NFT community.
It can’t be said whether this incident directly affected the token, but Cardano (ADA) has been down for some time now. Cardano (ADA) is currently trading at $0.4097, which is down from a day earlier.
Collateral Network (COLT) has immense potential
Collateral Network (COLT), which is based on the Ethereum (ETH) blockchain, makes it simple for borrowers to sell their physical assets. Collateral Network (COLT) is the only project to issue NFTs secured by tangible assets, fractionalize those assets and then allow the community to finance loans.
Anonymity is protected by Collateral Network (COLT), which allows users to borrow secretly against their valuables without putting a dent in their credit history. As all contractual information is retained in the NFT metadata and is kept on the public blockchain, which cannot be erased or changed, Collateral Network (COLT) is also transparent.
Users can stake their tokens on Collateral Network (COLT) and earn a passive income. These functionalities are being implemented through the use of smart contracts, which have undergone successful auditing.
Collateral Network (COLT) is now offering its first presale with tokens worth only $0.01, which is an incredible opportunity for investors. Within the following six months, it is expected that the price of Collateral Network (COLT) would increase 35 times.
Only those who bought Collateral Network (COLT) presale shares are eligible for the VIP club membership, which gives you access to private auctions for distressed assets.
Find out more about the Collateral Network presale here: