SPONSORED POST*
With news of Binance listing $PEPE retail money comes surging back into crypto markets, but analysts have warned new investors away from memecoins. Memecoins have no utility and therefore have a low potential for long-term growth. Analysts listed Algorand (ALGO), Solana (SOL), and Collateral Network (COLT) as the three best beginner cryptos to build a solid and robust portfolio to deliver long-term gains.
Summary
Collateral Network (COLT) Redefining Lending
Beginner crypto investors might not be aware, but one of the most powerful narratives currently dominating crypto is the real-world asset narrative- the idea of bringing tangible assets on-chain. Analysts believe this will power DeFi’s next expansionary phase.
Collateral Network (COLT) rests at the frontier of this narrative and is the first decentralized lending protocol assimilating real-world assets into DeFi. This gives it a first-mover advantage and brings blockchain technology to the asset-backed lending industry, valued at trillions of dollars annually.
Collateral Network (COLT) is a challenger lender, and thanks to its use of 100% asset-backed NFTs, asset owners can unlock on-chain liquidity while retaining ownership.
After collateralizing the asset, owners of minted NFTs can instantly access Collateral Network’s (COLT) institutional-level liquidity. The protocol opens up fresh capital options for asset owners and new passive income opportunities for lenders who can supply stable assets to the protocol.
With a doxxed team, locked liquidity, and a roadmap, including the launch of $COLT on several major centralized exchanges, participating in this presale provides one of the greatest upside potentials in the market currently. On the strength of the protocol’s fundamentals, analysts predicted a 3,500% surge in the coming weeks before the presale closes.Â
Algorand (ALGO) Institutional Adoption
Algorand (ALGO) is a layer one blockchain that went live in 2019. Silvio Macali, a professor at MIT who is one of the world’s leading minds in blockchain technology, founded Algorand (ALGO). Algorand (ALGO) employs a novel Pure Proof of Stake (PPoS) consensus mechanism capable of powering up to one million transactions per second at its peak, and Algorand (ALGO) claims to be the first layer one blockchain to solve the blockchain trilemma successfully.
Algorand (ALGO) released what it titled the AlgoKit, a software development kit to onboard more developers, and it has proven a great success. The number of developers essentially defines the rate of ecosystem growth.
An uptick in developers means faster expansion and this motivated analysts give Algorand (ALGO) a bullish price prediction for 2024 of $0.54, nearly 3X from its current price point. Algorand (ALGO) has also been working on its layer one primitives, such as atomic transactions, further fuelling analysts’ bullish predictions.Â
Solana (SOL) Scalability-Maxi
Solana (SOL) prioritizes speed above everything else, and this vision makes Solana (SOL) an attractive long-term hold because investors know that the Solana (SOL) developers will be working around the clock to achieve this goal.
The Solana (SOL) Foundation announced it would hold an NFT brand pitch competition, allowing creators to connect with people in the ecosystem and develop solid business outlines for their NFTs collection ideas. Driving grass-roots adoption of the Solana (SOL) network will be critical to the project’s long-term success, and the Solana (SOL) Foundation focuses on precisely that.
Solana (SOL) held the launch party for Saga, its new mobile phone, in Berlin at the start of May. Given all the work going into driving activity on Solana (SOL), analysts forecast it to reach a high of $48.52 later this year.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/registerÂ
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
*This article was paid for Cryptonomist did not write the article or test the platform.
