Even as the cryptocurrency market was flooded with several controversies in 2022, new projects like Collateral Network (COLT) have piqued investors' interest by offering an opportunity to bridge the gap between traditional and crypto finance.
As investors are increasingly making their investment decisions based on the underlying value of a token, cryptocurrencies like Tron (TRX) and The Protocol (THE) are struggling to rise.
Compared to Tron (TRX) and The Protocol (THE), Collateral Network (COLT) looks in a better position to rise quickly in 2023. This article looks at what makes Collateral Network (COLT) special and how Tron (TRX) and The Protocol (THE) are performing.
The Protocol (THE) falls 92% from ATH
In October this year, Ethereum Founder, Vitalik Buterin, jokingly suggested that someone should create a meme coin called “THE Protocol.” As “the protocol” is one of the most frequently written or spoken words in the crypto world, Vitalik joked it would give the founders a chance to claim their coin is being spoken about everytime someone uses the words “the protocol.” Interestingly, some crypto enthusiasts took Vitalik’s joke seriously and launched The Protocol (THE). However, there is no underlying value of The Protocol (THE).
The Protocol (THE) has witnessed a quick rise and fall within a few weeks of launch. As per CoinMarketCap data at the time of writing, The Protocol (THE) token was trading near $0.0029, down over 92% from the all-time high (ATH) of $0.039 on October 20, 2022. In the last two weeks of December, The Protocol (THE) price jumped over 24.7%. However, analysts are skeptical about the future of this memecoin.
Tron (TRX) witnesses prolonged fall
Unlike The Protocol (THE), TRX is a serious cryptocurrency of Tron, a decentralized blockchain-based operating system developed by the Tron Foundation. As per CoinMarketCap data at the time of writing, Tron (TRX) was trading near $0.054, down 76% from the ATH of $0.23 on January 5, 2018. If the current market trend continues, Tron (TRX) is unlikely to recover soon.
Tron (TRX) enables an environment where content creators can directly connect with their audiences. Despite the use case, Tron (TRX) coin has had a dismal performance in 2022. It is ranked 12th on CoinMarketCap with its current price lower than Dogecoin, a memecoin that is currently ranked 8th.
Tron (TRX) has also witnessed a prolonged fall and some controversies. Recently, a report claimed that Tron founder, Justin Sun, had more than $580 million of Bitcoin (BTC) stashed with Valkyrie Investments, a crypto asset manager, in August.
Collateral Network (COLT) expected to jump 35x
Collateral Network (COLT) is special in many ways. For users interested in crypto backed by real-world assets, Collateral Network (COLT) provides a rare opportunity to grow their wealth by investing in fractional non-fungible tokens (NFTs) of physical assets like property and art pieces.
Collateral Network (COLT) marketplace provides a platform for borrowers to directly connect with lenders. Using this platform, users can offer the fractional NFTs of their physical assets to prospective lenders. As the price of the NFTs are low, it becomes easy for anyone to lend. In the process, Collateral Network (COLT) enables users to become their own banks where they can safely lend and borrow real money.
The transactions on the Collateral Network platform are enabled by COLT tokens, which are currently priced at $0.01. Notably, COLT tokens provide benefits like staking, governance rights and more. Analysts are expecting that the Collateral Network (COLT) price would jump 35x within six months.
Find out more about the Collateral Network presale here:
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