Could Solana (SOL) Price Drop 8% Despite Grayscale Solana Trust?
Solana (SOL) has been on a downward spiral with a 10.61% decrease in the last week, despite the recent announcement of the Grayscale® Solana Trust (the ‘Trust’) beginning to trade on OTC Markets. While some investors are selling Solana (SOL), others are buying Collateral Network (COLT) tokens following a 40% price jump during its presale.
Solana (SOL) Is Hit Hard By Market Downturn
Solana (SOL) has been one of the most popular crypto investments worldwide since its rise to fame in 2021. Currently ranked the 10th largest cryptocurrency, Solana (SOL) has a market cap of $8.7 billion, with daily trading volume often passing one billion. However, both the Solana (SOL) price and trading volume have dipped at the time of writing.
Compared to top competitors in the market, Solana (SOL) has been one of the worst hit by recent trends. While Solana (SOL) has dropped over 10% in the last week, BNB has dropped just 0.90%, and Tron has dropped 1.55%. Experts believe that Solana (SOL) could drop another 8% as trading volume begins to dip.
Collateral Network (COLT) Defies Market Trends
Collateral Network (COLT) is thriving while much of the mainstream crypto market begins to decline. Since its presale started, Collateral Network (COLT) has increased in value by 40%, with an additional price increase expected once the next phase of its presale sells out.
Collateral Network (COLT) aims to revolutionize the pawnbroking industry by utilizing DeFi technology. Using Collateral Network (COLT), individuals can take a loan against their physical assets without ever impacting their credit. Borrowers can use real-world assets, including cards, jewelry, real estate, and fine whiskeys, as collateral to obtain a loan.
To do this, Collateral Network (COLT) mints an NFT representing the borrower’s physical asset and fractionalizes it in pieces. Lenders buy these fractions as a way to lend small amounts of money to fund a single loan. In return, investors receive a fixed interest rate until the borrower pays their loan.
Market analysts believe that Collateral Network (COLT) could hit $0.35 during its presale, providing investors with an early return of 3500%. You can buy tokens through the presale portal with several cryptocurrencies, including BTC, ETH, and BNB.
Conclusion
With Solana (SOL) decreasing in value, many investors are now looking towards other projects to boost their portfolios. As a result, demand for Collateral Network (COLT) is likely to gain traction, making it a great time to buy before $COLT tokens surge.
To find out more about the Collateral Network presale, visit their website, presale portal, or social media accounts:
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