This month has been crazy for the crypto market. The FTX scandal saw two of the biggest projects in crypto – Binance (BNB) and Solana (SOL) – dump to new lows, but seem to have weathered the storm. Meanwhile, a new project called Collateral Network (COLT) has just announced its presale and is receiving huge support from the community.
Binance (BNB)
Binance (BNB) is a centralized crypto exchange that has become one of the most popular in the world due to its user-friendly interface and wide range of features. Binance (BNB) offers spot trading, derivatives trading, an NFT marketplace, and even the Binance Smart Chain (BSC).
But all of this wasn’t enough to stop the Binance (BNB) price from plummeting in the aftermath of the FTX scandal — Binance (BNB) fell from $396 to $262 in just two days. This was due to people losing faith in centralized exchanges and worrying that Binance (BNB) could be the next FTX.
Binance (BNB) CEO, Changpeng Zhao, took to Twitter to reassure users of the platform’s solvency. He even showed Binance (BNB)’s proof of solvency to the public, which was a smart move on his part.
Fortunately, the fear was short-lived, as Binance (BNB) has since recovered to prices above $320. This shows that even a major scandal like FTX can’t stop the crypto market from bouncing back — a testament to the resilience of Binance (BNB) and its users.
Solana (SOL)
Solana (SOL) is a next-generation smart contract platform that is designed to be fast and secure, with scalability that can handle thousands of transactions per second (TPS). Solana (SOL) achieves this performance by utilizing a unique consensus model called “Proof of History”.
Solana (SOL) is fast becoming the go-to platform for decentralized applications (DApps), with the likes of Google and Asics exploring Solana (SOL) ’s technology. As a result, the price of Solana (SOL) has risen drastically since its launch in 2020.
However, the recent FTX scandal saw the price of Solana (SOL) dip from $38 to $12 in just three days. This was due to FTX having huge connections in the Solana (SOL) ecosystem, with some even believing that Solana (SOL) was propped up by FTX.
The good news is that Solana (SOL) has weathered the storm with a remarkable recovery of more than 100% since the start of 2023. Currently trading at $21, Solana (SOL) needs to pass the $25 level for a larger move upwards.
Collateral Network (COLT)
Collateral Network (COLT) is a revolutionary crowdlending platform that utilizes the power of non-fungible tokens to tokenize real-world assets! With Collateral Network (COLT), borrowers get access to capital by using physical assets — now represented as NFTs — as loan collateral.
The goal of Collateral Network (COLT) is to open up access to capital, while also providing lenders with a new asset class that yields better returns than traditional investments. The fractionalization of collateral allows anyone to become a lender, regardless of how much capital they have.
Smart contracts are used to automate the entire process on Collateral Network (COLT), which makes it easier for borrowers and lenders to interact with each other. Middlemen and greedy bankers are no longer needed!
COLT is a utility token that is needed to access the best features of Collateral Network (COLT), such as staking rewards, reduced interest rates, lower trading fees, governance rights, and more as Collateral Network (COLT) expands.
The presale of Collateral Network (COLT) has just gone live and so far, it’s gaining a lot of attention. With COLT just $0.01 per token, this is a great opportunity to stake your claim in a revolutionary platform.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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