The anticipation for the Litecoin (LTC) issuance reduction, which is expected to take place in August 2023, has led to a price boost in the price of the LTC token. Meanwhile, Render Token (RNDR) and Collateral Network (COLT) are also poised to give impressive returns in 2023.
Supporters of Collateral Network (COLT) might buy tokens here.
Litecoin (LTC) issuance reduction leads to a price boost
The crypto community is highly anticipating a massive hike in the price of Litecoin (LTC) as it approaches its next halving event on August 3, 2023. Halving in the cryptocurrency world is a process where the reward offered to miners is reduced by 50%. This means that Litecoin miners will get fewer tokens for each block mined.
The next Litecoin mining will reduce block rewards from 12.5 LTC to 6.25 LTC. The goal of halving is to reduce the inflation of LTC.
It will also create scarcity in Litecoin coins and could potentially result in a price hike. However, the price of Litecoin will still be subject to other factors such as market conditions, completion, investor sentiment, and regulatory changes.
Litecoin (LTC) is currently trading at $89.39 but looks set to rise above the $100 mark again before its next halving.
Render Token (RNDR) community is confident in its future
In the last few days, Render Token (RNDR) has gone up by over 45%. The recent price hike has created great optimism for the Render Token among investors.
Render Token (RNDR) is currently valued at $2.35. Render Token’s price action is also showing strong bullish momentum. If the current trend persists, RNDR could easily hit a new all-time high by the end of the year.
One of the reasons for the recent hike in the price of Render Token is the fact that the RNDR community has finalized the RNP-002 and RNP-003 votes. The votes are very important because they have an impact on the overall changes made to the Render Token network.
The votes also mean that Render Token can now migrate to the Solana ecosystem, which offers faster and cheaper transactions than the Ethereum network.
Collateral Network (COLT) pre-sale unlocks new opportunities for Web3
Collateral Network (COLT) is another upcoming cryptocurrency project to keep your eyes on in 2023. As a new Web3 crowdlending platform, Collateral Network makes it possible for anyone to unlock liquidity from their real-world assets without selling them. Physical assets currently accepted by the platform include real estate, vintage cars, jewelry, watches, and fine wines.
Borrowers send their physical assets to Collateral Network, which will authenticate, value, and store the physical asset in its vault for the loan duration. Then, the platform mints an NFT, backed 100% by the physical asset and fractionalizes it in pieces. Fractionalization allows multiple lenders to buy these fractions to provide the funds for a loan. It is what the platform calls ‘fractional lending.’ In return, lenders will receive a weekly fixed passive income.
This unique application of NFT technology to facilitate loans backed off-chain assets is the first in the crypto space and is aiming to disrupt the global asset-backed lending market expected to reach $1,721.38 billion by 2031 (source: Allied Market Research).
Collateral Network is currently in the first stage of its presale. The price of COLT currently stands at $0.014.
Find Out More About the Collateral Network Presale Here: