Cardano (ADA) Loses Investors to Filecoin (FIL) and Collateral Network (COLT)
Photo: Collateral Network
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Increased appetite for digital assets in the wake of the banking collapse has been great for projects like Bitcoin (BTC) due to its store of value properties and Collateral Network (COLT) due to its ability to unlock liquidity for real-world assets. But not all projects are equal, with Cardano (ADA) losing investors to Filecoin (FIL). Overall, this week crypto prices climbed, but analysts called special attention to Collateral Network (COLT), which continues to pump higher in its presale.
Collateral Network (COLT): Huge Presale Demand
Collateral Network (COLT) continues to climb despite being in its presale thanks to its dynamic demand-driven pricing strategy. As demand rises, so will the price of the native token $COLT. Judging by on-chain metrics, Collateral Network (COLT) has already raised over $800,000, showing colossal investor demand.
Collateral Network (COLT) brands itself as a challenger lender and a protocol ready to change the status quo of the trillion-dollar asset-backed lending industry. Collateral Network (COLT) brings tangible assets such as real estate on-chain through NFTs, with each NFT minted 100% backed by the collateralized asset. The owner of the NFT can then either access liquidity on the marketplace or sell it on the secondary market, given it is now a fully liquid and transferable asset.
Collateral Network (COLT) unlocks new liquidity options and bridges TradFi with DeFi opening the path to bring millions of dollars on-chain in real-world assets. It is a leading protocol in the real-world asset narrative, and analysts have earmarked it to surge by 3,500% before its presale closes.
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Cardano (ADA) Soon to Fall Out of the Top Ten?
Cardano (ADA) is a perfect example of market timing and the power being an early mover. When Cardano (ADA) launched in 2017, this Proof of Stake layer one blockchain provided a far faster and cheaper alternative to Ethereum (ETH). Cardano (ADA) rapidly grew its market cap and became an established and respected project.
Fast forward to today, and Cardano (ADA) has failed to innovate. It has an ecosystem with only $150 million in TVL (Total Value Locked); for comparison, Polygon (MATIC), which has a market cap $4 billion smaller than Cardano (ADA), has an ecosystem valued at $1.27 billion.
On-chain data shows long-term Cardano (ADA) holders selling their bags and cutting their losses. Analysts expect Cardano (ADA) to fall out of the top ten this cycle, and their price predictions mirror this sentiment expecting a range between $0.50 and $0.57 this year.
Filecoin (FIL) Uptick in Demand for Digital Storage
Filecoin (FIL) has been performing well following the launch of the Filecoin (FIL) Virtual Machine (FVM) and the success of its hackathons. Filecoin (FIL) has partnered with the Brave browser, and users of the Brave wallet can back up their metadata automatically through Filecoin’s (FIL) services.
As demand for decentralized storage increases, Filecoin (FIL) will continue to appreciate. This decentralized and open-source provider often travels under investors’ radars because it is a protocol for protocols.
Demand within DeFi has risen for Filecoin (FIL) services, and price predictions have increased in tandem with analysts forecasting that Filecoin (FIL) will trade between $9.71 and $11.58 this year.
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