While the Crypto Market is Down, The Crypto Community Rush to Buy Collateral Network (COLT) Tokens

The once-huge cryptocurrency industry has shrunk to a much smaller size. A dramatic series of events has resulted in the cryptocurrency market plummeting to $870 billion. 

However, there has been a recent surge in demand for tokens on Collateral Network (COLT) amongst investors. 

Here we'll examine the causes of the crypto market meltdown of 2022 and explain why investing in Collateral Network (COLT) tokens in 2023 is a good idea ahead of its forecasted 3500% gains after exchange listings.

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Why the Crypto Market is Down? 

There have been many reasons for the rapid decline of the cryptocurrency market in 2022. For instance, as a result of Binance's decision to abandon the FTX purchase, the market crashed for the second day running, sending most cryptocurrencies into the negative. 

As investor confidence decreased, the value of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dropped significantly. Other altcoins followed suit and plummeted further. It is said that the entire market fell by over 70% and more than 90% for other coins. 

The fall of FTX in November 2022, which processed daily transactions totaling over $1 billion, precipitated the present decline further. Its demise has also had repercussions for other cryptocurrency markets, which were already doing poorly since the beginning of the year.

By June 2022, Bitcoin's (BTC) price had fallen below $20,000, marking its first major decline since 2020. The catalyst for this was the decision by Celsius Network, a large US bitcoin lending provider, to suspend withdrawals and transfers due to "extreme" market conditions. The move contributed to a general decline in the price of cryptocurrencies.

Bitcoin (BTC), whose value is not necessarily tied to any underlying asset, in contrast to more conventional assets like corporate shares, can experience wild price swings for no discernible reason. This implies that any ups or downs in its price may be attributed solely to the expectations of investors.

That's why it's not uncommon for the price of Bitcoin (BTC) and other cryptocurrencies to see wild fluctuations, sometimes even within a single day. In the current economic climate, consumers are selling their cryptos to lower their investment risk in the face of rising inflation and a cost of living problem.

Savvy investors are, however, looking into emerging projects that promise significant growth in the near future. One such project is Collateral Network (COLT).

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What is Collateral Network (COLT)?

The peer-to-peer lending platform Collateral Network (COLT) was established on the Ethereum (ETH) blockchain and has been called the "challenger lender" by industry analysts. 

Borrowers on Collateral Network (COLT) can obtain loans secured by their physical assets like art, cars or property. By minting these assets as fractionalized NFTs on Collateral Network (COLT), borrowers can unlock the cash value of these assets without selling them, while lenders can buy fractions of the NFT to fund the loan, thereby entitling them to a share of the interest.

In addition to the crowdlending platform, the Collateral Network (COLT) ecosystem also includes a marketplace and other useful features. COLT is the platform's native token, granting holders various benefits ranging from staking bonuses to governance rights. 

There will be 1.4 billion COLT tokens in circulation. However, only 50% of those tokens will be available for purchase during the presale and the current price stands at $0.01 in phase 1.

Based on the clear advantages Collateral Network (COLT) provides to the corporate and crowdlending sectors, its price is expected to climb by 35x in the next 6 months. 

In terms of investment potential, it is currently among the best tokens available. That's why investors are rushing to buy Collateral Network (COLT) tokens in the current crypto winter. 

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk