By EWN • 23 March 2023 • 12:00
28th December 2022 saw Solana (SOL) fall below $10 for the first time since February 2021. Solana has lost 94% of its value since 2022 began. Experts recommend Collateral Network (COLT) as the best altcoin for 2023, as it is forecasted for colossal 35x returns.
Solana (SOL) is one of the best smart contract platforms in the crypto space and also one of the most promising projects. Solana (SOL) hit record highs in November 2021, granting early investors over 2,000% returns. Sadly, the story is different today. Solana (SOL) has been on a downward trend for a while.
Solana’s most recent decline happened after news on December 25, that two of the most popular and valuable NFT projects on the blockchain platform, DeGods and y00ts, will move to Ethereum and Polygon blockchains respectively in early 2023, to expose them to a larger audience. Solona (SOL) has dropped by over 15% since the announcement.
Earlier, it was the collapse of FTX and Alameda Research that contributed largely to Solana’s drop in value. Sam Bankman-Fried (SBF), one-time billionaire and founder of the two aforementioned companies, was a vocal supporter of Solana and had invested immensely in Solana (SOL). So, when the FTX empire crumbled in early November, Solana (SOL) took a much harder hit than most top cryptocurrencies, apparently because of the close association to SBF and his companies. SOL has dropped by about 75% since then.
Regardless, this may be a good time to buy solana (SOL) as the market may move in its favor in the coming year. Also, the doubt around Solana can help the price bounce back. Assuming short sellers close their positions, the influx of buy orders will drive up the price of SOL.
Collateral Network (COLT) is an NFT based lending platform that has been touted as the best investment option for 2023. Collateral Network uses fractionalized NFTs to facilitate lending and borrowing among users. Hosted on the Ethereum blockchain, COLT is coming up to challenge AAVE, Compound, and other top players.
Collateral Network (COLT) enables borrowers to use their physical assets as collateral for loans by minting them as fractionalized NFTs. Lenders can buy fractions of these NFTs, with their funds being grouped together to serve as the loan for the borrower. In turn, this enables them to earn interest on their capital, whilst the nature of the crowd lending allows far more liquidity than traditional means.
And since all transactions are recorded on the blockchain, no one is cheated. Moreover, holders of the COLT token will enjoy certain benefits like discounts on transaction fees and interest rates. Most interestingly, Collateral Network (COLT) is aiming for a 3500% increase in the next 6 months.
Find out more about the Collateral Network presale here:
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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