Standard Chartered Eyes 100k Bitcoin (BTC), Near Protocol (NEAR) and Collateral Network (COLT) Prices Pump Higher
The crypto market is heating up this week! Standard Chartered, a global financial services company, believes that Bitcoin (BTC) could hit $100k due to the ‘crypto winter’ being over. The crypto market has responded positively, with the price of Collateral Network (COLT) and Near Protocol (NEAR) both increasing in value. But it is Collateral Network (COLT) that has seen the most dramatic price surge, with a 40% gain during the ongoing presale phase.
Collateral Network (COLT)
Collateral Network (COLT) introduces a novel asset-based peer-to-peer lending platform aiming to disrupt a $5 trillion dollar industry through the clever application of blockchain and NFTs technology.
The process is straightforward: borrowers that want to unlock liquidity from their assets offer their valuable tangible asset as collateral (such as a vehicle, jewelry, or artwork). Collateral Network creates an NFT that represents the asset on a 1:1 basis on the blockchain, and fractionalizes it meaning multiple individuals on the platform can contribute to the loan and still earn interest.
This approach facilitates smaller investments, fosters a more liquid market, and provides access to more competitive rates compared to traditional lending institutions — benefiting both borrowers and lenders on the platform.
Smart contracts are utilized to manage transactions without intermediaries, which helps decrease fees and expedite transactions. Moreover, the NFT metadata maintains a transparent record of loan conditions providing peace of mind to both parties.
The platform’s native currency grants privileges to it’s holders such as reduced fees for borrowing and using the marketplace, and staking rewards for contributing liquidity. However the main perk is the exclusive access to the auctions for distressed assets that only token holders can attend. Imagine being able to purchase Rolexes and Ferraris which command premium prices on the gray market for below market value.
This innovative platform aims to revolutionize the $4.9 trillion lending market and is spearheading the shift in the market.
COLT tokens are available to purchase at only $0.014 per token, purchasers could potentially witness 100X returns in the coming years by participating in the presale today.
Bitcoin (BTC)
Standard Chartered has released a report suggesting that Bitcoin (BTC) could reach the $100,000 mark by the end of 2024, as they believe the so-called “crypto winter” is over. Despite Bitcoin (BTC)’s decline after reaching $31,000 a few weeks ago, Bitcoin (BTC) has seen a 76% increase since the beginning of 2023 and is currently trading at around $29,200.
The potential climb to $100,000 per Bitcoin (BTC) could be driven by a number of factors. Most notably, the recent banking turmoil has highlighted the advantages of Bitcoin (BTC) as a decentralized, trustless, and scarce digital asset, according to analyst Geoff Kendrick.
This positive outlook on Bitcoin (BTC)’s price from such a prominent financial institution could further drive the demand for the world’s largest cryptocurrency. In addition, the next Bitcoin (BTC) halving is expected in May 2024, which typically triggers the start of a new Bitcoin (BTC) bull run.
Near Protocol (NEAR)
Near Protocol (NEAR) is a decentralized blockchain platform focused on scalability, speed, and usability. The Near Protocol (NEAR) platform is powered by its native cryptocurrency, NEAR tokens, which pay for gas fees on Near Protocol (NEAR), as well as to secure the network.
Near Protocol (NEAR) has seen a remarkable price increase over the last few months, with its native token now trading at $1.93 — up from $1.25 in early January 2023. This Near Protocol (NEAR) price rise is due to the market realizing that Near Protocol (NEAR)’s use of sharding technology could be the silver bullet that makes scalability a reality.
This technology could also give Near Protocol (NEAR) an edge over its competitors, as it allows for more transactions to be processed at one time. Analysts foresee the price of Near Protocol (NEAR) continuing to range between $1.75 and $2.70 for the next few months, with a break out leading to $6.00.
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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