As Collateral Network (COLT) steams ahead in its presale phase, showing potential for a staggering 100x growth, the question arises: can other projects such as Fantom (FTM) and ImmutableX (IMX) keep pace? This article explores what the future might hold for these digital assets in the fast-evolving crypto landscape.
Collateral Network redefines traditional lending
Imagine a marketplace where you can lend and borrow money without having to go through traditional financial institutions. That’s the concept behind Collateral Network, a groundbreaking project that could redefine the global lending landscape and disrupt the massive $4.9 trillion asset-backed lending market.
If you have valuable assets and need a loan, instead of selling your assets or going to a bank, you can use your assets as collateral on the Collateral Network platform. Collateral Network transforms your assets into non-fungible tokens, which are unique digital representations of your assets that can be divided into smaller portions and offered to multiple lenders.
This means that instead of one lender having to provide a large sum of money, multiple lenders can contribute smaller amounts, making lending more accessible for people with less capital. Additionally, if lenders ever need to cash out, they can quickly sell their parts of the NFTs in the open market, offering a level of liquidity rarely seen in traditional lending.
Since its presale started in February, the COLT token has already seen a 40% increase, and it’s expected to rise even more people become aware of the project. This could mean 100x gains for early adopters who manage to buy COLT during the presale phase.
Fantom price looks bearish
Fantom is a next-generation blockchain platform designed for high-speed, flexible transactions. The interesting thing about Fantom is its use of DAG technology, which is like a super-efficient highway system that lets transactions move simultaneously, rather than one by one.
This unique feature has made Fantom quite popular within the crypto world. In fact, the value of Fantom grew to over $1 billion within the first year of its launch. The crypto community even thought that Fantom could one-day rival Ethereum in terms of usage.
However, like a star that burned too bright too soon, Fantom (FTM)’s price has seen a significant downturn from its peak of $3.48 to a modest $0.36 today — under the $0.40 resistance/support level. Momentum appears to be waning for Fantom (FTM), and analysts don’t believe that it can keep up with the predicted 100x growth of Collateral Network.
ImmutableX price analysis
Layer 2 blockchains are all the rage these days, and ImmutableX is one of the few that have managed to stay ahead of the curve. ImmutableX has been steadily climbing in price since 2023, and it appears to be on the right trajectory for long-term success.
However, ImmutableX has to battle with the never-ending competition from other layer-2 solutions, such as Optimism (OP) and Arbitrum (ARB). This means that adoption is spread thin and ImmutableX must continually improve its network in order to stay competitive.
Pricewise, ImmutableX is 92% down from its all-time high of $9.49. While ImmutableX has climbed from $0.38 to $1.59 over the course of Q1 2023, the price has now fallen to a current price of $0.75. This volatility has resulted in a volatile market, with prices always subject to change.
Find out more about the Collateral Network presale here: