A couple of new players, including Pepe (PEPE) and Collateral Network (COLT), emerged quietly in the market amid the sudden decline in the prices of both Polygon (MATIC) and other cryptocurrencies. In Stage 1 of its public presale, the newcomer Collateral Network is recognized as the world’s first web3 challenger lender, expected to deliver a whopping 3,500% return for its investors during presale!
Polygon (MATIC) Struggles with Value Retention
Despite being hailed as a promising layer 2 scaling solution for Ethereum, Polygon struggles to maintain its value and attract investors. Over the last month, the price of Polygon has seen significant fluctuations.
The Polygon price dropped from $1.10 to $0.87 during the last 30 days, marking a 20.91% decrease. At the same time, its market cap dropped from $10.17B to $8.11B or 20.27% decline.
The current price of Polygon (MATIC) is 70.96% lower than its all-time high of $2.92. Moreover, the CFGI indicator of Polygon shows 38, indicating fear among investors and further confirming the bearish sentiment around Polygon.
The decline in the value of Polygon prompted investors to explore alternative investment opportunities, such as Pepe and Collateral Network.
If bulls remain stagnant, investors might pursue more dumps of the Polygon holdings.
Pepe (PEPE) Cryptocurrency Plummets Over 55% After Listing on Binance
The meme coin, which jumped to the 45th largest cryptocurrency by market capitalization within three weeks after its launch, began a downward spiral on Friday, the 5th of May, after it was listed for trading on Binance, the world’s largest crypto exchange.
Pepe reached its all-time high of $0.000004354 on the 5th of May, right upon the news. However, its fame was short-lived. Just a few days later, Pepe suffered a nearly 55% decline in value. Currently, Pepe trades at $0.000002.
The Pepe market cap was also impacted by the drop in its price, which went from under a million dollars during its launch in mid-April to over $1.49B on Friday, the 5th of May. However, the Pepe market cap currently stands at just over $754 million, indicating that the token has lost almost half its market capitalization in a week.
This significant price drop is a cause of concern for investors who were betting on Pepe to increase their wealth.
Collateral Network (COLT) – The Future of Peer-to-Peer Lending on Web3
Collateral Network is a groundbreaking Web 3 peer-to-peer lending platform that accepts off-chain assets as loan collateral. Collateral Network’s innovative approach eliminates the need for extensive credit checks, making it easier for borrowers to obtain loans.
One of the unique features of the Collateral Network is the creation of NFTs for valuable assets such as classic cars, real estate, and precious metals. Collateral Network fractionalizes these NFTs, allowing investors worldwide to lend smaller amounts of funds at an agreed interest rate, known as fractional lending.
For instance, if you own a classic car worth $50,000, you can use it as collateral and borrow against it. Collateral Network will mint a 100% asset-backed NFT of the car and fractionalize it to enable multiple investors to participate with smaller amounts. Once you pay off the principal amount and interest, COLT will redeem your classic car from its vault and burn the NFT.
Collateral Network is a win-win for everyone. Borrowers benefit from crowd-sourced liquidity pools, while lenders earn passive income. Experts predict that Collateral Network (COLT) will surge by 3,500% during its presale, with the token already seeing a rise from $0.01 to $0.014.
For more information on Collateral Network visit the website, join the presale or join the community for regular updates.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk