Axie Infinity’s (AXS) Network Growth Declines
The latest token unlock event by Axie Infinity has triggered a bearish price movement for AXS. On April 23, Axie Infinity released 19 million AXS tokens worth more than $144 million. However, Axie Infinity (AXS) has been struggling even before the token unlock event.
According to the recent data by Santiment, the network growth of Axie Infinity (AXS) has nosedived from 113 to 55, a whopping 51% decline in the past month. It implies that Axie Infinity (AXS) has failed to attract new users in recent times.
The decline is more discomforting for the Axie Infinity community, which was hoping for a price revival of AXS after Sky Mavis’ recent attempts to establish an ecosystem around the game token. Meanwhile, the price of Axie Infinity (AXS) has registered a fall of 18% in the past month, and AXS is currently trading at $6.86.
Polygon’s (MATIC) DEX Volume Plunges
The overall state of Polygon’s DeFi market has weakened, causing a decline in its price. Polygon’s market value has plummeted by 20% in the last month. Thus, Polygon (MATIC) is currently trading at $0.88.
According to the latest data by Dune Analytics, the overall DEX volume on the Polygon network has dropped significantly in the past three months, from $218 million to $45 million. The number of active wallets on Polygon has also tumbled to 316,250, from 430,682, within the first fortnight of April.
Besides, the total value locked (TVL) of Polygon has witnessed a decline of around 3% in the past week. However, a few analysts believe that the Polygon network may see an uptick in its trading volume in the coming weeks due to the recently launched zkEVM.
Collateral Network (COLT) Breaks Through The Crypto World
Collateral Network (COLT) is a novel Web3 platform that is set to disrupt the crowdlending industry. The platform enables users to unlock liquidity against their real-world assets, like diamonds, vintage cars, luxury watches, fine art, and other collectibles. Collateral Network has also resolved issues that were jeopardizing the growth of the lending industry, such as higher interest rates, less accessibility, geographical barriers, and complex regulations.
Collateral Network accepts collateral from borrowers across the globe. After receiving collateralized assets, the project’s internal team assesses them and decides their market valuation with the help of an AI-based mechanism. Collateral Network stores these tangible assets in secured vaults after minting fractionalized non-fungible tokens against them. Borrowers can regain possession of their assets after repaying their loans and interest. People can buy fractional NFTs from a decentralized, open marketplace to lend money and receive a weekly passive income from the loan’s interests.
COLT token holders will get several benefits, like access to private auctions, voting rights on important resolutions, and staking rewards. Loans processed on Collateral Network are decentralized, and lenders are given full autonomy over their loan books and control of their private keys. Furthermore, the Collateral Network team has been fully doxxed.
Collateral Network’s presale stage one is live, and COLT tokens are currently available at $0.014. The market price of COLT tokens is expected to increase by 3500% to reach $0.35 by the culmination of the presale phase and by a further 100x once it hits major exchanges. So, buy your COLT tokens now before it gets too late.
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: