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It has been an interesting week for the cryptocurrency market, as investors have flocked to buy Dogecoin (DOGE) on Etoro, Apecoin (APE) has fallen behind, and Collateral Network (COLT) has surged during its presale event. Let’s take a closer look at each of these events.Collateral Network disrupts the lending industry
Collateral Network is a Web3 lending platform where individuals can get loans by using their valuable possessions as collateral. The truly transformative feature of Collateral Network is how it turns collateral into NFTs that can be used as collateral on the platform.
By turning physical assets into NFTs, Collateral Network allows collateral to be split into many pieces and sold to multiple lenders, which adds huge amounts of liquidity to the market. Not only that, but Collateral Network opens the lending industry to anyone, regardless of how much money they have or how creditworthy they are.
The Collateral Network platform uses its own currency, known as COLT tokens. These tokens are well worth holding onto, as they come with staking rewards, first access to NFT auctions, the best borrowing terms, and a range of other benefits.
Since the start of its presale, the value of COLT has increased significantly (141%) and it’s currently priced at $0.0241. As the presale continues and we move closer to public launch, it’s anticipated that the value of COLT will increase by a further 3500% as the industry wakes up to its potential.Dogecoin price analysis
Dogecoin, originally created as a meme cryptocurrency featuring the Shiba Inu dog from the “Doge” meme, has evolved into a significant contender within the cryptocurrency arena. The Dogecoin community is robust and engaged, lending a unique strength to this initially tongue-in-cheek project.
Dogecoin is known for its high volatility, which can be a double-edged sword. On the one hand, this volatility makes Dogecoin an attractive prospect for traders seeking quick profits. On the other hand, the same volatility usually results in heightened risk.
Lately, Dogecoin has been making headlines as buyers flock to buy Dogecoin on Etoro. In fact, Dogecoin has added more than 340,000 new holders in the last few months.
This influx of new buyers propelled the price of Dogecoin (DOGE) from $0.062 to $0.10 in a matter of days, but the price of Dogecoin has since cooled off and returned to $0.066. Analysts and investors now await the next surge.Apecoin price analysis
ApeCoin is like the fuel that powers a virtual engine known as the ApeCoin DAO. This decentralized community is made up of individuals who come together to shape the growth and future of ApeCoin and other products by the Yuga Labs team.
ApeCoin is also a utility token, meaning you can use it as a form of payment for goods and services offered by the Yuga Labs team. This utility caused the crypto community to flood into ApeCoin (APE) and send the price to a peak of $34 in 2023.
However, ApeCoin has since fallen 92% to a current price of just $2.81, with a 24-hour loss of over 15%. Analysts are suggesting that the crypto community is moving onto projects with adoption in the real world, and this could be one of the reasons why ApeCoin has suffered such a dramatic decline in recent months.Find out more about the Collateral Network presale here:
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