Solana Vs Cardano, Collateral Network Outperforms Both In April

Solana (SOL) and Cardano (ADA) are two of the crypto markets' most popular investments that both surged in value early in April, only to decrease over the past week. This has caused trading volume to drop for both Solana and Cardano, with some investors selling their tokens. Meanwhile, new projects like Collateral Network (COLT) have surged with a 40% price hike in April.

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Will Solana (SOL) Sink Below $20?

After hitting daily trading volumes of over $1.3 billion in April, Solana (SOL) has started to crash. In the last week, Solana (SOL) has decreased in price by 16.49%, with many investors now fearing the token could drop below $20.

Many analysts are claiming this drop has been caused by a market correction following the recent Bitcoin (BTC) surge. However, many Solana (SOL) holders remain bullish.

Solana (SOL) recently introduced its state compression upgrade, which will help Solana (SOL) influence the NFT market. This upgrade significantly reduces the price of minting Solana (SOL) NFTs, with the minting of 1 million NFTs costing just $110.

Any ‘compressed’ NFTs can also be traded at a lower price, making the NFT market more accessible to all investors. Given its ever growing influence, many investors believe Solana (SOL) will bounce back once the recent correction ends.

Cardano (ADA) Up 6% In April

Cardano (ADA) is one of the few cryptocurrencies that has remained strong despite recent market downturns. Although it has decreased by 7.38% in the last five days, at the time of writing, Cardano (ADA) is up by 6.34% since the start of April, with one Cardano (ADA) token selling for $0.3808.

Cardano (ADA) projects such as Atomic Wallet and ADA Monsters have recently gained traction in the market, while the number of NFT projects built using Cardano (ADA) has grown dramatically. Throughout April, Cardano (ADA) daily trading volume has remained steady, averaging around $350 million a day and is expected to rise if Cardano (ADA) bounces back in the next few weeks.

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Collateral Network (COLT) Outperforms Solana (SOL) And Cardano (ADA) In April

Collateral Network has outperformed Solana and Cardano in April, increasing in value by 40%.

Collateral Network is an innovative crowdlending platform that has its sights set on revolutionizing the $billion lending market. The platform’s ecosystem offers a number of benefits for borrowers and lenders, with multi-chain capabilities for a seamless experience.

Using Collateral Network borrowers can take a loan against their physical assets instead of selling them. Each asset is brought on-chain as an NFT, after which lenders can buy NFT fractions and lend money to the borrower. In doing so, lenders can earn a fixed interest rate and generate a passive income.

Borrowers on the platform receive funds confidentially within 24 hours once the loan requirements have been met. All transactions within the platform are completely secure with 2FA security options and never impact a borrower's credit score.

Collateral Network is powered by COLT tokens, with token holders earning a range of benefits such as staking bonuses and governance rights.

COLT tokens are currently selling for $0.014, though are expected to hit $0.0168 in the next few weeks, which has investors buying at record rates to boost their portfolios.