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As the Grayscale Bitcoin Trust (GBTC) gets closer to a victory in court, it also moves closer to exploiting a loophole that could cause BTC and other coins, including Dogecoin (DOGE) and Collateral Network (COLT), to surge in price. However, even without the hopeful victory of the Grayscale Bitcoin Trust, Collateral Network is still looking at excellent predictions, with experts believing that the token can bring 3500% gains before its public presale ends.
Regardless of whether the Grayscale Bitcoin Trust (GBTC) succeeds in exploiting a loophole that could bring big gains to BTC and other coins, investors believe that Collateral Network (COLT) can bring exceptional gains and value on its own.
Collateral Network is a Web3 peer-to-peer lending platform that allows people to unlock liquidity s in a much easier and faster way than ever before. Namely, Collateral Network enables borrowers to take out loans by leveraging real-world assets that they already own, like fine art, fine vines, watches, real estate, jewelry, etc. Also, Collateral Network allows lenders to create a portfolio of passive income streams for themselves by financing fractions of loans (fractionalized lending).
All the borrower needs to do to unlock liquidity is send the asset they want to leverage over to Collateral Network. Then, Collateral Network will use AI technology to value the asset. After that, it'll mint the asset into a 100% asset-backed NFT and fractionalize it in pieces, and sell it to Collateral Network members (lenders).
By buying a fraction of the NFT, lenders will be financing a loan and getting a weekly passive income in return. If the loan defaults, Collateral Network will sell the leveraged asset on private auctions to ensure that lenders get their funds back. On the other hand, when the borrower repays the loan, COLT will return the asset back to them and burn the NFT.
COLT is currently in its public presale stage, trading at $0.014. Experts and analysts expect it to rake in 3500% gains before its presale ends and an additional 100x gains once it hits exchanges, without accounting for the potential boost it could see from the Grayscale Bitcoin Trust loophole.
In order to convert its flagship fund into an exchange-traded fund, the Grayscale Bitcoin Trust sued the SEC for refusing the Grayscale Bitcoin Trust to convert into an ETF. By converting the Grayscale Bitcoin Trust into an ETF, the Grayscale Bitcoin Trust can be listed on US crypto exchanges, hence the lawsuit against the SEC.
As of now, things are looking up for the Grayscale Bitcoin Trust as the outlook for the Grayscale Bitcoin Trust's victory in court improves. If things go well, the Grayscale Bitcoin Trust can use the loophole it wants and trade on exchanges. This could also lead to many other coins surging in price, leaving thousands of people cheering for a fast win for GBTC.
Dogecoin (DOGE) is currently trading at $0.07278 per Dogecoin token, a 0.54% decrease in the past 24 hours. Also, the Dogecoin market cap isn't looking good, marking a 0.85% decrease in the last 24 hours. However, Dogecoin (DOGE) saw a 25.32% increase in the Dogecoin trading volume, which is a good sign for Dogecoin.
However, an even better sign for Dogecoin will be if GBTC wins in court and gets to use the loophole it found in the system. In that case, Dogecoin investors could see the Dogecoin (DOGE) token climb to the $0.09 level by the end of the year.
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
