Ethereum (ETH) Shapella Update Leads To Losses, While Collateral Network (COLT) Posts 40% Gains

Ethereum’s (ETH) most recent upgrade has been one of ups and downs. While it was initially a success and increased the number of individuals staking Ethereum, the token’s value has decreased. In the last seven days, Ethereum is down by 0.49%, while projects like Collateral Network (COLT) have seen a 40% surge. 

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Ethereum (ETH) Remains Stuck Behind A $2k Barrier 

Ethereum, the second largest cryptocurrency in the world, has recently been praised following the success of its Shapella Upgrade. However, the project remains stuck behind a $2k barrier, which it hit on the 6th of May. After increasing to $2006.51, Ethereum crashed to $1883.77.

The 24-hour price chart for Ethereum (ETH). Source: CoinMarketCap

Ethereum (ETH) has since decreased further, with a price decline of 0.64% in the last 24 hours. At the time of writing, Ethereum was selling at $1,841.30, with analysts having mixed views as to whether or not it will rise again in May. 

While some analysts believe Ethereum could quickly bounce back, others have doubts due to the recent spike in Ethereum trading fees, which rocketed due to meme coin trading. 

Collateral Network (COLT) Posts 40% Gains With 68% Coming Soon

As Ethereum stability starts to wobble, confidence in Collateral Network (COLT) is at an all-time high, with a second price increase expected over the next two weeks. Collateral Network lets individuals take their physical assets on-chain as NFTs to raise funds.

Historically, large institutions refuse to lend against alternative assets, forcing owners to sell their assets to unlock liquidity. With Collateral Network, borrowers can unlock liquidity in just 24 hours and are no longer location dependent. Instead, they can take loans from around the world with fair and flexible lending rates. 

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Collateral Networks platform is permissionless, borderless, and requires no unnecessary red tape such as credit checks and endless paperwork. Rather than using these outdated techniques, lending and borrowing are completed on-chain to guarantee stability, transparency, and discrepancy. 

Collateral Network is currently in stage one of its presale and has passed KYC checks, giving early investors full peace of mind. With price increases imminent, investors are buying Collateral Network at $0.014, with its price expected to hit $0.0168 once its current presale round sells out, according to the project’s official website. 

Conclusion

While Ethereum could increase in value in the future, most analysts believe it could be stuck behind its current $2k price barrier for at least a few weeks. As a result, Collateral Network has become the favorite of the two, with a price increase of 28% expected in May. 

For more information on Collateral Network visit the website, join the presale or join the community for regular updates.

Find out more about the Collateral Network presale here:

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

Presale: https://presale.collateralnetwork.io/register

Telegram: https://t.me/collateralnwk 

Twitter: https://twitter.com/Collateralnwk