Aave Nears Version 3.0, Ethereum Hits 11-Month High, 25M Collateral Network Tokens Already Sold

This week has been a noteworthy one for the cryptocurrency market, with three major news stories making headlines. Collateral Network (COLT) presale sold 25 million tokens, Aave (AAVE) is on the verge of launching version 3.0, and Ethereum (ETH) has hit a new 11-month high. Of these events, the Collateral Network (COLT) presale is attracting the most attention with investors eager to grab discounted COLT tokens, currently available at a price of $0.014 during the second presale stage, before they sell out.

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Collateral Network (COLT)

Collateral Network (COLT) is ushering in a new era in the crowdlending sector by using blockchain technology to streamline the process for both lenders and borrowers.

To borrow funds on Collateral Network (COLT), users must first provide collateral as a guarantee. Fine art, jewelry and automobiles are some examples of usable assets. Once appropriate collateral is submitted, a fractionalised NFT representing the asset is minted by Collateral Network (COLT). Lenders can then invest in fractionalized portions of the NFT to accumulate the funds for the respective loans, selecting those that align with their investment preferences.

Thanks to the integration of smart contracts, Collateral Network (COLT) bypasses intermediaries and ensures loan transactions are both transparent and secure. This technology by Collateral Network (COLT) also expedites the lending process, as funds can be transferred almost instantaneously.

The native token, COLT, serves as the backbone of the Collateral Network (COLT) platform. Holding COLT tokens in the official wallet grants access to exclusive benefits, such as reduced interest rates, staking incentives, and reduced fees.

The Collateral Network (COLT) presale is currently in the second phase with a current COLT price of $0.014. And with a predicted launch price of $0.35, those participating in the presale can still benefit from significant gains before the platform even launches.

Aave (AAVE)

The Aave (AAVE) community has voted for Aave (AAVE) to deploy on the zkSync Era Mainnet — a move that will bring improved speed and scalability to the Aave (AAVE) ecosystem.

The proposal will now pass through in-depth discussions, enabling the Aave (AAVE) community to address any concerns, provide feedback and suggest improvements. It is the decentralized nature that makes Aave (AAVE) so attractive to investors and users, with the team working collaboratively to bring improvements.

At the time of writing, Aave (AAVE) is trading at $75.83 — a gain since the start of 2023. Analysts foresee Aave (AAVE) continuing to push toward the $100 – $120 resistance zone, with a successful launch of Aave (AAVE) V3.0 likely to be the catalyst for this move.

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Ethereum (ETH)

Ethereum (ETH) is also making headlines after hitting an 11-month high of $2,137 this week. This move was largely attributed to the Ethereum (ETH) Shapella upgrade, which saw Ethereum (ETH) validators receive their locked Ether.

In the 24 hours after the upgrade, the Ethereum (ETH) price increased by more than 9% to above $2,100. This positive price action was not expected by all Ethereum (ETH) analysts, as token-unlock events typically result in a sell-off.

The $2,000 level is a significant resistance level, so the fact that Ethereum (ETH) so easily broke through this is encouraging for Ethereum (ETH) bulls. If the current momentum persists, we could see Ethereum (ETH) pushing toward $2,500 in the coming weeks.

Find out more about the Collateral Network presale here:

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

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

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk

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