After a month of steady price increases, Solana (SOL) is on a downward spiral, with a 10.61% decrease in the last week, despite the announcement that the Grayscale® Solana Trust (the ‘Trust’) has begun trading on OTC Markets. While some investors are selling Solana (SOL), others are buying Collateral Network (COLT) tokens following a 40% price jump during its presale.
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Solana (SOL) Is Hit Hard By Market Downturn
Since its rise to fame in 2021, Solana (SOL) has remained one of the most popular crypto investments worldwide. Ranked the 10th largest cryptocurrency, Solana (SOL) currently has a market cap of $8.7 billion, with daily trading volume often passing one billion. However, at the time of writing, both the Solana (SOL) price and trading volume have dipped.
The 24-hour price chart for Solana (SOL). Source: CoinMarketCap
Compared to top competitors in the market, Solana (SOL) has been one of the worst hit by recent trends. While Solana (SOL) has dropped over 10% in the last week, BNB has dropped just 0.90%, and Tron has dropped 1.55%.
With signs that crypto growth is slowing down, experts believe that Solana (SOL) could drop another 8% as trading volume begins to dip.
Collateral Network (COLT) Defies Market Trends
As much of the mainstream crypto market begins to decline, Collateral Network (COLT) is thriving. Since its presale started, Collateral Network (COLT) has increased in value by 40%, with an additional price increase expected once the next phase of its presale sells out.
Collateral Network (COLT) looks to solve many of the issues associated with the pawnbroking industry. The current market is not only old fashioned, but in some circumstances also has a bad reputation. Collateral Network (COLT) looks to reinvent pawnbroking with DeFi technology.
Using Collateral Network (COLT), individuals can take a loan against their physical assets discreetly and without ever impacting their credit. Borrowers can use real-world assets, including cards, jewelry, real estate, and fine whiskeys, as collateral to obtain a loan.
To do this, Collateral Network (COLT) mints an NFT representing the borrower’s physical asset and fractionalizes it in pieces. Lenders buy these fractions as a way to lend small amounts of money to fund a single loan. In return, investors receive a fixed interest rate until the borrower pays their loan.
With huge potential to disrupt the pawnbroking market, market analysts believe that Collateral Network (COLT) could hit $0.35 during its presale, providing investors with an early return of 3500%.
To get involved now, you can buy tokens through the presale portal with several cryptocurrencies, including BTC, ETH, and BNB.
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Conclusion
With Solana (SOL) decreasing in value, many investors are now looking toward other projects to boost their portfolios. As a result, demand for Collateral Network (COLT) is extremely likely to gain traction, making it a great time to buy before $COLT tokens surge.
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
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
