OKB, the token of the exchange OKex, has been on a tear and is up 165% over the last year. Ethereum is bruised but holding steady after the bad news surrounding crypto focused bank Silvergate hit the market. Meanwhile a new project called Collateral Network (COLT) aims to bring lending and borrowing against real world assets through the use of asset backed NFTs to the blockchain, potentially revolutionizing lending space forever.
Collateral Network (COLT) just launched the first stage of the presale with tokens available for purchase at only $0.01. Already market experts are bullish on this project with many indicating they expect the price of the token to increase by 35x.
OKB – the 7th biggest crypto? Or the 24th?
OKB can best be thought of as a utility token of an exchange, similar to Binance’s BNB coin. Holders can use OKB for trading discounts, and OKex uses buybacks and burns to keep the price high. Similarly to BNB coin, which went up dramatically in the months and years after it was released, OKB is one of crypto’s top gainers, defying the wider crypto winter. Unlike BNB though, OKB is not used as the gas token of OKchain, due to structural differences.
What may give pause for thought is that on Coingecko, OKB is the 7th biggest crypto, something which is surprising for an exchange that doesn’t have the public image of Binance. On Coinmarketcap however, OKX is listed as the 24th biggest currency, a big difference!
The answer seems to lie around questions of circulating supply and how that is counted. One issue is that a large amount of OKB’s supply never goes anywhere, and sits in a large amount of cold wallets, and this is addressed by OKX themselves on their blog.
Critics worry that this could allow secret selling off of funds or other foul play. Whilst the scope of the argument is beyond this blog post, it’s worth bearing in mind that not all is what it seems with OKB. Will that affect prices negatively? Only time will tell, but for now it’s on the rise.
Forgot your unique keys? Ethereum’s (ETH) latest update might save your cash
Most on-chain crypto holders will have had that moment or thought of fear in which they lose their private keys and access to their Ethereum (ETH) or other crypto. You can’t write your private keys down on one of your electronic devices for safety, but paper is fragile and vulnerable to accidents, getting lost and even being found by a potential thief. What to do? One solution is to get a fireproof locked box and bury your Ethereum wallet address somewhere. But most of us aren’t going to do that.
So, lucky for us, Ethereum (ETH) have recently deployed an account abstraction feature that makes it possible for users to recover crypto if they lose private keys. Full details will be revealed at EthDenver, bringing a more peaceful night’s sleep to many! The Ethereum (ETH) price has remained steady after dropping 5% with the news of Silvergate bank’s problems.
Recently Bitcoin has been on a tear and whilst Ethereum has gone up as well, it’s by a lesser percentage, as ETH has not been this low in comparison to BTC for 6 months. Technical analysis suggests that Ethereum is in the oversold region. When we compare Ethereum to what it was doing v BTC last year we can see that there is a good chance that ETH could rebound by over 15%. However if we start to make lower highs and lower lows this will be invalidated.
Brand new Collateral Network presale begins with COLT
Every now and then you see a project which seems to do something truly new with blockchain technology, and Collateral Network is doing just this, using asset backed NFTs. You’re probably already aware that you can collateralise your Doodles or Bored Ape Yacht Club NFT, but did you know that you can mint an NFT against any real world asset and get a crypto loan by using the asset as collateral? Or that you can become a crowdlender and get interest from loaning money, whilst owning a piece of a Cartier watch or an actual yacht? This is what Collateral Network is looking to achieve.
Comparing Collateral Network (COLT) to similar companies in the market most seem to revolve around buying timeshares or properties directly using NFTs. Collateral Network’s intriguing idea is currently in development and the token has just been released.
COLT is the native token of the platform. Token holders receive a number of benefits within the platform. Borrowers can use the tokens to get discounts on borrowing fees and the interest they pay on loans. Lenders can use the tokens to get discounts on trading fees in the marketplace.
Experts predict a 3500% return for those who get in now.
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
Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s9
