2023-04-28
This week, Collateral Network (COLT) continued to show strong growth during the presale with a price of $0.014 for tokens, a 40% surge so far, Ethereum (ETH) managed to maintain a stable price above the $2,000 mark and Ripple (XRP) collaborated with Montenegro on a Central Bank Digital Currency (CBDC) project. Let’s take a closer look at each of these events.
Collateral Network (COLT)
Collateral Network (COLT) is a decentralized lending protocol that streamlines the borrowing process by allowing individuals to use their physical assets as collateral.
The real USP of Collateral Network (COLT) is the tokenization of collateral into divisible NFTs, which makes it possible to split loans into multiple, smaller amounts. Collateral Network (COLT) paves the way for multiple lenders to contribute to a single loan, which in turn increases liquidity and empowers anyone to become a lender who can earn an income paid out weekly at a fixed interest term.
Collateral Network (COLT) uses smart contracts to process payments automatically and ensure that all parties in a loan agreement are following the rules. By doing this, Collateral Network (COLT) eliminates the need for middlemen and drastically reduces costs for all parties.
The COLT token lies at the core of the Collateral Network (COLT) ecosystem, incentivizing user engagement and providing access to exclusive benefits, such as lower interest rates, staking rewards, governance rights and more as Collateral Network (COLT) grows further.
Phase 2 of the Collateral Network (COLT) presale has just kicked off, giving early adopters the opportunity to purchase discounted COLT tokens at $0.014. With the price gradually increasing as more tokens are purchased, now is the perfect time to get in on the action.
Ethereum (ETH)
This week, Ethereum (ETH) experienced an impressive rally, soaring from $1,861 to $2,100 in seven days. The bullish move was caused by the Ethereum (ETH) Shapella update, which enabled network validators to access their staked Ethereum (ETH) tokens.
Ethereum (ETH) saw a 9% increase within a day of the update, crossing the $2,000 milestone for the first time in nearly a year. This surge in the Ethereum (ETH) price defies the typical sell-off trend that follows token-unlock announcements.
The $2,000 level is a significant psychological support zone for Ethereum (ETH), so to be able to maintain this level is a great sign for the asset. Some Ethereum (ETH) analysts are predicting Ethereum (ETH) to continue this bullish momentum in the coming weeks and test the $2,500 level.
Ripple (XRP)
Ripple (XRP) announced that it will collaborate with Montenegro’s Central Bank on a project to create and test a Central Bank Digital Currency (CBDC). Ripple (XRP) is expected to help develop tools to facilitate cross-border payments that leverage the CBDC.
This collaboration shows the commitment Ripple (XRP) has to driving innovation in the payments space and is a major step towards leveraging digital assets for payments. It could also open up additional possibilities for Ripple (XRP) adoption as more central banks adopt CBDCs.
This is welcome news to Ripple (XRP) holders who have been experiencing a never-ending barrage of negative news in recent months. The price of Ripple (XRP) has reacted positively to this news, increasing by over 48% in the past month.
But with the SEC case still ongoing, Ripple (XRP) investors should remain cautious and watch the developments in this case closely. Ripple (XRP) will only make a new all-time high when the dust from this case settles.