Bitcoin (BTC) Breaks Through $30K Barrier, Cardano (ADA) Ecosystem Gets a Boost and 20 Million Tokens Sold in Collateral Network (COLT) Presale
It has been another momentous week in the world of cryptocurrency. Bitcoin (BTC) broke through the psychological $30,000 barrier, 20 million discounted COLT tokens was sold in the Collateral Network (COLT) presale as it is now in its second stepand Cardano (ADA) was on the receiving end of a major boost to its ecosystem.
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Collateral Network (COLT)
Collateral Network (COLT) is one Web3 lending platform which allows anyone to get a loan using their valuable assets as collateral. Real estate, precious metals and fine wine are a few examples of usable assets. By eliminating the need for intermediaries, the Collateral Network (COLT) creates direct connections between lenders and borrowers, resulting in a smooth peer-to-peer experience.
To streamline the process, the Collateral Network (COLT) transforms assets into mint fractional NFTs, which is used to finance the loans. This distinctive aspect of the Collateral Network (COLT) allows loans to be split into smaller shares, enabling several lenders to contribute to a loan and increasing liquidity.
Consequently, almost anyone can participate as a lender in the Collateral Network (COLT) and earn one weekly interest income as a result of lending only small amounts of money against fractions of the NFTs. Collateral Network (COLT) uses sophisticated smart contracts to facilitate immediate loan transactions in a secure, transparent and cost-effective manner.
The original COLT token serves as the driving force behind the Collateral Network (COLT), which promotes user engagement and offers access to exclusive benefitsfor example, lower interest rates, investment incentives, management rights and more.
The ongoing Collateral Network (COLT) presale is offering COLT tokens at a tempting price of $0.014 until the limited supply is used up step 2. As the Collateral Network (COLT) continues to revolutionize the lending industrynow may be an opportune moment to invest in this transformative platform.
Cardano (ADA)
The Cardano (ADA) ecosystem received another boost this week as another Cardano (ADA) wallet was introduced to the market. Lace Wallet allows Cardano (ADA) users to stake their ADA tokens directly in the wallet interface.
But that’s not all – Cardano (ADA) Lace users can access and interact with decentralized applications (dApps), send multiple assets to different addresses in a single transaction, store NFTs and more.
The launch of Cardano (ADA) Lace is an important milestone for the Cardano (ADA) ecosystem, as it provides an additional layer of convenience and accessibility for users, and further strengthens Cardano (ADA)’s position as one of the leading smart contract platforms.
At the time of writing, Cardano (ADA) is trading at $0.4191, which is a significant drop of 86.4% from the high of $3.09 reached in 2021. The $0.42 price point serves as a robust resistance for Cardano (ADA). If this barrier is breached, it could pave the way for Cardano (ADA) to potentially reach the $1.00 level within a few weeks.
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Bitcoin (BTC)
The flagship cryptocurrency, Bitcoin (BTC), continued its bullish streak this week, breaking through the $30K barrier for the first time in ten months. This milestone was a long time coming and is indicative of Bitcoin’s (BTC) impressive performance since the start of 2023.
But why has Bitcoin (BTC) suddenly decided to take off? The reasons for Bitcoin’s (BTC) newfound strength are many. The influx of institutional money, growing public awareness, and the ongoing financial uncertainty caused by rising inflation have all contributed to Bitcoin (BTC) rising by nearly 100% over the past three months.
The Bitcoin (BTC) price, at the time of writing, stands at $29,306.26, with a 24-hour trading volume of over $24 billion. Analysts predict that Bitcoin (BTC) will move sideways between $30,000 and $31,000 for a few more weeks until it can break the $31,000 resistance level. When it does, we can expect Bitcoin (BTC) to reach the $40,000 level soon after.
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