The general crypto market is on a bearish trend, and while coins like Eos (EOS) are falling short, Chainlink (LINK) is expected to rise by 10% based on its largest-ever hackathon. Meanwhile, investors are moving to Collateral Network (COLT), a new decentralized crowdlending platform for 35x gains.
Is Chainlink a good investment?
Chainlink is a blockchain oracle network that provides on-chain smart contracts with off-chain data. Chainlink provides safe access to external APIs and off-chain calculations for a wide range of applications.
Recently, Chainlink announced its largest-ever hackathon – Hackathon Spring 2023 for Web3 developers, with a prize pool of $450,000+. Participants will create unique dApps, showing their potential by utilizing Chainlink technology.
Experts expect this event to raise the price of Chainlink (LINK) by 10%. Already, the price of Chainlink (LINK) spiked by 0.92% in 24 hours following the announcement. As of press time, Chainlink (LINK) is priced at $6.95, rising by 0.3% in the past hour.
What is Eos crypto?
Eos is an open-source blockchain platform for launching smart contracts. Last month, Eos launched its Ethereum Virtual Machine (EVM) mainnet. This is to enhance interoperability between the Eos network and the Ethereum Blockchain.
Also, the Eos Network Foundation announced a strategic partnership with market maker and investment firm, DWF Labs, through an investment deal of $60 million to further the platform’s growth and development. Despite these updates, Eos (EOS) has been on a downward trend, falling by 4% in the past seven days. And in the last month, Eos (EOS) has dropped by 15%. Eos (EOS) is currently trading at $1.01.
Collateral Network (COLT) the challenger lender
Collateral Network is a crowdlending platform set to revolutionize the lending industry. The platform allows people to use their valuable physical assets as collateral to unlock liquidity. Some of the physical assets that Collateral Network will accept as collateral include real estate, jewelry, watches, vintage cars, and fine wines.
To unlock liquidity, a borrower must first send the physical asset to Collateral Network, whose team will authenticate, value, and store the asset for the loan duration. Then, the platform mints an NFT that represents the physical asset and its value. These NFTs are, therefore, backed by the physical asset. The NFTs are fractionalized, enabling multiple people to become lenders by providing liquidity. In return, lenders receive a weekly fixed passive income.
This innovative approach is a game-changer for the crypto world as it bridges the gap between digital and real-world assets. Collateral Network is setting new standards in the industry by providing a highly efficient way to unlock cash from real-world assets on-chain. Experts in the field have taken notice of the potential of this platform to transform the credit markets.
According to forecasts, Collateral Network (COLT) could see a surge of up to 3500% before the presale ends. Currently trading at $0.014, the COLT token is expected to rise to $0.35. Now it is a golden opportunity to join the presale and reap massive rewards when this project becomes a major player in the crypto community.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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