As the crypto market matures, analysts have sifted through thousands of projects looking for the most significant investments and have returned with what they call pick-and-shovel plays. They listed Chainlink (LINK), Binance Coin (BNB), and Collateral Network (COLT) as three projects vital to the ecosystem and, therefore, most likely to yield the best returns.
Chainlink (LINK) Expansion into Liquidity Indicators
Chainlink (LINK) has recently increased its suite of products delving into off-chain liquidity data that helps dApps manage risk. Alongside this, Chainlink (LINK) has announced its spring hackathon, and Bolide, a yield protocol on the Binance Smart Chain, has integrated Chainlink (LINK) price feeds to help secure its yield strategies.
Almost all significant blockchains use Chainlink’s (LINK) services. Chainlink’s (LINK) value proposition, namely that as a decentralized oracle network, it can connect external data feeds to smart contracts, becomes increasingly valuable as TradFi and DeFi start to comingle.
Chainlink (LINK) provides services that all blockchains can use and, for this reason, falls into analysts’ pick-and-shovel category, with bullish forecasts predicting Chainlink (LINK) will trade between $14.16 and $17.76 in 2024.
Binance Coin (BNB) and Public Opinion on Binance
Binance Coin (BNB) is the native asset of the Binance Smart Chain, a blockchain network that processes millions of transactions daily. Every transaction requires Binance Coin (BNB), and this natural source of buy pressure caused analysts to categorize it as another pick-and-shovel play.
The Binance Smart Chain is integral to the DeFi ecosystem, and therefore by default Binance Coin (BNB) also occupies a position of privilege. The value of Binance Coin (BNB) fluctuates with public opinion on Binance, and the exchanges’ success directly affects Binance Coin’s (BNB) value.
Binance Coin (BNB) is a natural investment for those who believe in the longevity of Binance, the world’s leading exchange ranked by trading volume. Many analysts speculate that Binance Coin (BNB) will shatter its all-time high of $686 in the next six to 12 months, making a clean 2x for investors buying Binance Coin (BNB) at its current price point.
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Collateral Network (COLT) Real-World Asset’s Gateway into DeFi
Analysts’ third and final pick and shovel play is Collateral Network (COLT) which they stated has the most upside potential. Blockchains remained isolated from the broader economy until Collateral Network pioneered a method to unlock the liquidity of real-world assets on-chain.
Collateral Network employs a hybrid infrastructure. It leverages 100% physical-asset-backed NFTs to allow asset owners to collateralize real estate, jewelry, luxury watches, fine art, and more to access on-chain liquidity. The protocol uses artificial intelligence (AI) in its valuation process and allows for transparent borrowing, all recorded on the blockchain.
Once Collateral Network (COLT) has authenticated, valued, and stored the assest in its vault, it mints an NFT backed 1:1 by the physical asset. Then, Collateral Network (COLT) fractionalizes the NFT, enabling multiple lenders to purchase fractions of the NTS to fund the loan instead of a single lender funding a single loan. In return, investors get a fixed interest rate.
Collateral Network bridges the on-chain ecosystem and tangible off-chain assets providing a platform where borrowers can access liquidity in straightforward manner without geographic restrictions, and lenders can earn passive income through providing liquidity.
Collateral Network onboards real-world assets into DeFi, massively broadening the current spectrum of DeFi’s use cases. Analysts expect this platform to grow rapidly, already forecasting a 3500% rally for the COLT token – currently available at $0.014 – before the presale ends in the coming weeks.
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