Bitcoin (BTC) has unexpectedly ripped and gained 4% in twenty-four hours, but even this impressive move has been overshadowed by a new player in the space -a frontrunner in the real-world asset narrative, Collateral Network (COLT). This article investigates why Bitcoin (BTC) rallied and explores this new DeFi entrant.Â
Bitcoin (BTC) Has Pumped
Bitcoin (BTC) is the original cryptocurrency and the first public blockchain allowing peer-to-peer transactions. Developed by anonymous developer Satoshi Nakamoto, Bitcoin has transformed the world and created the entire cryptocurrency movement, eventually leading to DeFi – a decentralized alternative to the centralized modern financial system.
The collapse of First Republic Bank, combined with the most recent FOMC meeting where Jerome Powell noticeably excluded language indicating further rate hikes, caused Bitcoin (BTC) to rally by 4%. The continuing bank crisis has undermined faith in the traditional financial system which, as more investors are realizing, is a confidence ponzi. It has ignited interest in alternative currencies with no third-party risk, and the bearer nature of cryptos perfectly fulfills this role.Â
The Markets Followed
When Bitcoin moves, the markets follow, and altcoins begin making decent gains on the back of Bitcoin’s move. However, analysts highlighted Collateral Network (COLT) that surged by 40%. As increased interest rates make credit harder to access, this new physical-asset-backed lending protocol provides a liquidity solution for asset owners worldwide, explaining its incredible 40% leap.Â
Collateral Network (COLT) Surprise Gainer Surging 40%
Collateral Network is a true pioneer and the first decentralized protocol integrating tangible off-chain assets as collateral, moving away from the crypto-centric nature of DeFi lending protocols.
The protocol leverages a hybrid infrastructure model, 100% physical-asset-backed NFTs, and fractionalization to unlock a new paradigm for peer-to-peer and asset-backed lending.Â
Collateral Network allows people to use their physical assets, such as fine wines, vintage cars, properties, and watches, as collateral to unlock liquidity, Collateral Network mints fractionalized NFTs representing those physical assets, and lenders in the platform can provide funds by buying those fractions. In return, they receive the interest of the loan as passive income every week.
Its first-mover advantage has already led analysts to predict a further 3500% surge before its presale closes. Investors currently have the opportunity to become early backers in this challenger lender -as a bonus and for a limited time, presale investors have a 40% deposit bonus if they buy COLT tokens now. Once it is listed in major exchanges, experts predict a further 100x surge in the price. COLT tokens are currently available to buy at $0.014, with a predicted increase to $0.35 before the presale ends.
The tightening of credit availability provides a massive tailwind for Collateral Network, and this multi-sided platform enables asset owners to borrow discretely and, most importantly, provides the blueprint and architecture for trillions of dollars of real-world assets to be onboarded into DeFi.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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