With thousands of cryptocurrencies to choose from today, it can be difficult to make the right choice. Some people typically choose to go with the more established tokens. However, even the established coins sometimes experience significant declines while newer projects can surge with massive gains.
A good example of an established token lagging behind is Injective (INJ) which is currently on a decline after having started the year on a positive note. Similarly, Conflux (CFX), which has been doing great in the last few weeks, is now stuck in the consolidation phase.
Meanwhile, newcomer Collateral Network (COLT) has surprised investors with an early 40% growth while still in phase 1 of its presale.
Today we’ll go over Injective, Conflux, and Collateral Network to see which of the three stands to give investors the most gains.
Injective (INJ) Leaves Investors Worried with a 14% Decline
Injective seems to have fallen behind after having made several development initiatives in its ecosystem. In a recent announcement, Injective stated that they had partnered with Delphi Labs to host the Delphi Labs Cosmos Hackathon.
However, as much as Injective showed great potential for growth in their April monthly publication, the recent developments have not translated into significant price gains. In fact, the price of Injective has declined by over 14% in the last two weeks.
Injective (INJ) is currently trading at $6.86 which is a significant drop from its price of $7.5 at the beginning of May. Injective has also dropped by almost 10% in the last 7 days.
It’s no wonder why many INJ investors are getting worried a lot and many choosing to look into more promising projects.
Conflux (CFX) Consolidates After Last Month’s Rally
Many investors hoped that Conflux would continue its upward trend after Binance announced its support for CFX. However, this was not the case. Conflux seems to have settled in a consolidation phase leaving many investors wondering how long it will take for Conflux to break out again.
In the last 24 hours, Conflux has dropped by 7% and is now trading at $0.27. Conflux is currently consolidating at its secondary resistance level. To break out of the consolidation phase, Conflux buyers will need to work harder to push the price up.
Many traders are, however, optimistic that Conflux will show an upward rally in the coming weeks given the project’s popularity as a scalability and interoperability blockchain solution.
Collateral Network (COLT) Surprises Investors with a Presale Growth of 40%
As the world’s first blockchain-based peer-to-peer crowdlending platform where users can unlock liquidity from physical assets, Collateral Network has been making waves in the cryptocurrency and financial sectors lately. The popularity of the project has led to a growing demand for COLT tokens.
Collateral Network allows anyone with a valuable physical asset to borrow money from lenders on the platform against the value of his or her assets. You can use items such as jewelry, pieces of art, cars, etc. as collateral for fast loans on the Collateral Network platform.
Borrowers only need to submit their real-world assets to Collateral Network and then have fractionalized NFTs minted against the value of the assets on a ratio of 1:1. The NFTs are fractionalized to allow multiple lenders to finance the required loan in small amounts by purchasing a fraction of the NFT. Lenders on the platform earn passive income from the fixed interest rate charged on the loans they finance.
With the global asset-backed lending industry expected to grow to $1,721.38 billion by 2031, Collateral Network is at the forefront of revolutionizing how the industry works. So far, the price of COLT tokens has gained by 40% from the initial presale price of $0.01. Experts predict the value of COLT to appreciate by 3500% in the next few months.
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
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