Dogecoin (DOGE) HOLDS STEADY, Conflux (CFX) Rallies 14%, Collateral Network (COLT) Surges 40% in under a month

The recent spike in the price of Dogecoin (DOGE) at the beginning of April seemed to have attracted a lot of attention to the meme coin.

Dogecoin is currently holding steady with investors anticipating another price hike in the near future. Meanwhile, the Conflux (CFX) continues its bullish rally with a recent price surge of 14%.

Collateral Network (COLT) which is in its presale stage has also seen a price surge of 40% this month.

In this post, we look at the factors behind the steady performance of Dogecoin, Conflux, and Collateral Network.

Dogecoin (DOGE)

At the start of April, the price of Dogecoin made a significant hike after billionaire Elon Musk replaced the bluebird logo of Twitter with the Dogecoin symbol of a Shiba Inu dog. Musk’s action created a buzz in the crypto community leading to a 4.35% surge in the price of Dogecoin (DOGE).

The sudden hike in Dogecoin price came at a time when many tokens were also experiencing a bullish trend and a positive market sentiment.

According to analysts, the surge in the price of Dogecoin can also be attributed to its increased adoption as well as the media attention that DOGE gets from prominent figures like Elon Musk.

The popularity of NFTs has also contributed to the increased demand for meme tokens such as Dogecoin. At the time of writing, Dogecoin (DOGE) is trading at $0.082. Many investors are optimistic about Dogecoin hitting the $1 mark by the end of the year if it continues getting more adoption and attention from the cryptocurrency community.

Conflux (CFX)

Conflux has also rallied by 14% in the last few days. According to analysts, Conflux is expected to make even more gains when Hong Kong finally legalises crypto trading by regular investors in June 2023.

The stellar performance of Conflux can be attributed to the fact that it is the only public blockchain project that has been endorsed by the government of China. At present, Conflux enjoys the backing of many Asian markets.

Conflux is also quite popular because it uses a hybrid consensus mechanism called Tree-Graph that combines proof of work and proof of stake consensus mechanisms. Conflux is well positioned for future growth as China opens up more crypto trading opportunities. This is quite evident in the price of Conflux (CFX) which has grown by 660% since mid-February this year.

Analysts predict the price of Conflux could hit $1 before the end of the year. At the time of writing, Conflux (CFX) is trading at $0.38.

Collateral Network (COLT)

If there is one thing that prevents people from getting loans from traditional lending institutions, it’s the endless red-tape bureaucracy and requirements such as credit checks and proof of income. Fortunately, Collateral Network is here to change all that using Web3 technology.

Collateral Network is the world’s first peer-to-peer crowd-lending protocol that enables anyone to unlock liquidity from their physical assets and use it as collateral to receive loans from lenders on the platform. Collateral Network makes it possible for borrowers to mint NFTs based on the value of their assets on a ratio of 1:1.

The NFTs minted on Collateral Network are further fractionalized which makes it possible to get loans from multiple lenders using the same asset. You can mint NFTs on the Collateral Network platform for a wide range of real-world assets such as fine art, jewelry, property, sports cars, and many more.

With a maximum supply of 1.4 billion tokens, Collateral Network has allocated 38% to the presale, ensuring that early investors can get in at a low price. Additionally, Collateral Network has set aside 15% for listings and staking rewards, 13% for marketing, 10% for exchange listings, and 12% for team tokens.

As things stand, FOMO is taking over the market because Collateral Network is approaching the end of the current presale stage. Upon entering the new stage, the individual price of COLT would rise.

The price of Collateral Network (COLT) has surged by 40% in the ongoing presale. Analysts predict the price of COLT tokens may very well rise by 3500% in the next few months.

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