According to leading crypto analysts, three tokens that are worth keeping an eye on in 2023 are Collateral Network (COLT), VeChain (VET), and Fantom (FTM). Presently, Collateral Network is in its presale phase, offering early investors the unparalleled chance to grab COLT tokens at a steep discount.
Collateral Network (COLT)
Collateral Network is a new platform for accessing and providing loans. It uses blockchain tech to allow borrowers to use their own assets as collateral to secure a loan quickly. Thus, Collateral Network enables borrowers to access low-cost loans faster without worrying about complex credit evaluations and sky-high interest rates.
The real USP of Collateral Network is the minting of NFTs to represent the assets used as collateral. As these NFTs are fractionalized, multiple lenders can join in to provide the needed loan amount. Collateral Network opens up the peer-to-peer lending industry to a new class of lenders and borrowers, who have traditionally been locked out due to the rigid nature of traditional finance.
Collateral Network’s smart contracts automate the entire lending process, and its native token (COLT) is used to provide liquidity to lenders and borrowers on Collateral Network. Holders of COLT tokens also receive favorable borrowing rates, reduced fees, and staking rewards.
The Collateral Network presale is underway, offering an opportunity for investors to buy COLT tokens at a discount before they are listed on exchanges. With so much early demand for Collateral Network (COLT), crypto analysts expect the price of COLT tokens to skyrocket 3,500% in the following months.
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VeChain (VET) is an innovative public blockchain project specifically designed for enterprise and industrial applications, providing a comprehensive Blockchain as a Service (BaaS) platform. Since launching its mainnet in 2018, VeChain (VET) has emerged as an essential tool for businesses worldwide seeking more secure digital solutions.
VeChain (VET) employs a proof-of-authority (PoA) consensus mechanism to process transactions more efficiently, while not compromising on decentralization. This allows businesses to use the VeChain (VET) blockchain for a wide range of applications, including supply chain management, product traceability, cross-border payments, and digital asset storage.
A distinguishing characteristic of VeChain (VET) is its dual-token system, which comprises VET as the primary network token and VTHO as the secondary token utilized for covering on-chain fees. This dual-token approach promotes stability, scalability, and liquidity within the VeChain (VET) network.
Regarding its value, VeChain (VET) is presently hovering around the $0.023 support level. If the cryptocurrency market maintains its bullish momentum, VeChain (VET) could potentially rise to the $1 level in the long term.
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Fantom (FTM) is an advanced blockchain platform that employs Directed Acyclic Graph (DAG) technology to deliver rapid, scalable, and secure smart contract solutions. Fantom (FTM)’s DAG is a unique distributed data structure that enables parallel processing and quicker confirmation times compared to conventional blockchain architectures.
For organizations evaluating various blockchain options, Fantom (FTM) stands out as a strong contender due to its exceptional speed and scalability. This is demonstrated by the adoption of Fantom (FTM) by governments worldwide for their IT infrastructure needs.
The FTM token serves as a medium of exchange within the Fantom (FTM) network. As more innovators adopt Fantom (FTM) for their initiatives, the demand for this promising asset is expected to grow.
In terms of value, Fantom (FTM) has risen from $0.2 to its current price of $0.41, reflecting a gain of 105%. This surge indicates that a growing number of investors recognize Fantom (FTM)’s potential as a rival to Ethereum (ETH).
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