Chainlink price predictions are turning positive as the project quickly recovers from a steep price collapse. This market-wide collapse was caused by the SEC’s decision to add 55 new cryptocurrencies to its list of securities, including Solana.
However, Chainlink and Collateral Network have remained outside of this classification, which has caused both to rise in popularity.
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Chainlink Chases $6 As Its Value Begins To Increase
Although it wasn’t categorized as a security, Chainlink still suffered a price decline from $6.39 to $4.96 in just five days. The project is now recovering fast and has increased in value by 11.76% in the past week.
At the time of writing, Chainlink was trading at $5.85 and had a daily trading volume of $200 million. Price analysts predict that Chainlink will increase to $6 by the end of June, with some suggesting it could surge to $7 by the end of July.
Chainlink’s recovery has been supported by its community, who traded a total of 3.9 million Chainlink tokens (LINK) just days after its crash. This mass support suggests that investors are extremely bullish on Chainlink, which is a good sign that its value could surge during the next bull market.
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Could Solana’s Growth Slow Down As A Security?
Since it first made headlines in 2021, Solana has been praised as one of the fastest-growing DeFi ecosystems. However, many experts believe that Solana’s growth could now slow since being categorized as a security by the SEC. In less than a week after its new categorization, Solana decreased almost $10 from $22.23 to $13.99, one of the biggest drops in the market.
Over the past week, Solana has started to bounce back and is now trading at $16.28. However, not all investors are convinced that Solana will be able to live up to expectations. As a security, Solana will now be heavily regulated, which could slow down its ability to adapt to market changes. Therefore some investors are now choosing Chainlink and Collateral Network over Solana.
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Collateral Network Could Offer Higher Returns Than Solana
The future of Solana remains extremely uncertain. As a result, new projects like Collateral Network are predicted to overtake it in the second half of 2023. Collateral Network is a decentralized, borderless solution designed for the peer-to-peer lending market.
The global peer-to-peer lending market size was valued at $83.79 billion in 2021 and is expected to hit over $705.81 billion by 2030. However, many of its systems are outdated. Collateral Network overhauls these systems using NFTs and smart contracts, which are utilized to let borrowers take out DeFi loans against real-world assets.
All borrowing will be conducted anonymously at fair market rates, ensuring both the borrower and lender profit from each deal. Lenders will have the opportunity to fund a wide array of loans, allowing them to develop several passive income streams.
With DeFi technology, borrowers will be able to unlock liquidity from their assets in around 24 hours, and they will never impact their credit score. The potential to disrupt one of the world’s fastest-growing markets has allowed Collateral Network to increase in price three times in June alone, with COLT tokens now trading at $0.277 (up a huge 177%).
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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