Since it first made headlines in 2021, Solana (SOL) has continued to thrive in the crypto industry. However, a new DeFi project has recently hit the spotlight, attracting thousands of investors in just a few weeks. Its expected to surge 35x in the next 6 months, with a 100x increase once it hits exchanges.

This article will examine why investors are excited about this new crypto and why it could be the next big thing to make headlines in the market.

>>BUY COLT TOKENS NOW<<

Solana (SOL) is an open-source project that lets developers build decentralized finance (DeFi) solutions. The Solana (SOL) project was launched in March 2020 by the Solana Foundation and quickly gained traction during the crypto bull market, increasing from just $1 to highs of $259.96 in November 2021.

Solana (SOL) diversifies itself from other projects with a proof-of-history (PoH) consensus, which is combined with the underlying proof-of-stake (PoS) consensus of the blockchain. This allows for extremely fast transaction speeds, low fees and great scalability for Solana (SOL).

Due to its ease of use, Solana (SOL) is used by small time traders and large crypto whales, with the Solana Foundation having long term plans to make decentralized finance more accessible worldwide.

This exciting new project thats caught the attention of Solana (SOL) bulls is called Collateral Network (COLT). Collateral Network (COLT) is an innovative new DeFi project that helps borrowers liquidate high-value, physical assets on the blockchain. Cars, fine art and jewelry are some examples of usable assets.

Once brought on-chain as an NFT, Collateral Network (COLT) uses artificial intelligence (AI) to accurately value assets and generate algorithmic lending rates to guarantee a fair price. Lenders can then loan a percentage of the NFT due to fractionalisation, earning a passive income in the process.

The Collateral Network (COLT) team has been fully doxxed and the projects native token has been audited, ensuring that the Collateral Network (COLT) innovative new application is safe for borrowers and investors.

Collateral Network (COLT) is currently in its presale and is quickly becoming a top investment opportunity following a 40% price surge in the last few weeks. With the potential to revolutionize the crowdlending market, a diverse ecosystem and real-world practicality, its no surprise that Collateral Network (COLT) has caught the attention of Solana (SOL) investors.

To further this, its speculated 3500% returns outperform much of the crypto market, further adding to the projects appeal. This makes Collateral Network (COLT) a great option for investors looking to diversify their portfolio and recover from a difficult bear run.

>>BUY COLT TOKENS NOW<<

Aside from its unique use case, Collateral Network (COLT) offers a number of advantages over the traditional crowdlending industry. Heres why Collateral Network (COLT) is predicted to surge.

Fixed Passive Income Opportunities: By lending money to borrowers, investors can receive a fixed passive income paid weekly.

Improved Liquidity: Every NFT is backed 1-to-1 by the physical asset, which is held in a vault to keep it secure.

Security: Should a borrower default on their loan, the asset will be repossessed and sold at a private auction to recover investors funds.

Fast Turnaround: Assets can be liquidated in just 24 hours.

Privacy: Assets can be borrowed against without ever leaving a credit footprint.

Collateral Network (COLT) is one of the most promising new cryptos in the DeFi market, providing investors with a potential 35x return while revolutionizing a multi-billion dollar market. With a great foundation, doxxed team and long-term roadmap, Collateral Network (COLT) is on track to become a market leader in the DeFi industry.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/Presale: https://app.collateralnetwork.io/registerTelegram: https://t.me/collateralnwkTwitter: https://twitter.com/Collateralnwk

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Solana (SOL) Crypto Bulls Are Eyeing Up This Altcoin With 3500% Growth Potential | Bitcoinist.com - Bitcoinist

Source: Thought Catalog - Unsplash

This week was a crucial one for the crypto market, particularly because of the unexpected highs and lows. Leading cryptocurrencies surged and dipped at different times, leading to a change in market sentiments. At this time, the entire cryptocurrency market is blinking in red, and expectations are sideways.

Bitcoin, the most valued cryptocurrency by market cap, has not been spared. The asset has been in critics books since the start of the year, as many weigh the possibility of Bitcoin reclaiming previous highs. Although Bitcoin bulls have done enough to push the asset to levels last seen in 2022, market players are divided on whether or not buying Bitcoin at this time is profitable.

Following the massive price dips from Thursday, Bitcoin slumped and lost momentum above $30,000. The big bull initially dropped to a price of $29,100, before shedding a significant number of gains. Over the last 7-days, Bitcoin has lost 10.40 percent of its value. Within the last 24 hours and 1-hour time frame, Bitcoin is down by 3 percent and 0.23 percent respectively. At report time, the apex crypto trades at a price of $27,275.

Speaking on Bitcoins current movement, Twitter user Negentropic, the co-founder of Glassnode maintains that Bitcoins price action alliance with expectations, based on the fact that implies volatility and realized volatility are still closely aligned. He claims that the recent drop in Bitcoins price was a move that was already anticipated to test the price action channel as depicted on the chart.

He also gives insight into the recent long squeeze from $30,000 to the lower $29,000 area, which led to the liquidation of $260 million worth of loan positions in the previous days.

The Bitcoin Risk Signal is at 0 (figure 4) looking a bit shaky in the short run despite the recent volatility, indicating a lack of panic selling. The Fear and Greed Index retracted from the greed zone to a neutral position at 52 points. Meanwhile, the current market environment, characterized by unrealized profits outpacing unrealized losses (see NUPL on glassnode), implies optimism in the medium and long term.

Similarly, Ethereum (ETH) has been hit by the bearish wave. Ethereum currently trades at a price of $1,849, as weekly losses surge past 12 percent. There has been strong selling pressure and ETH bulls are yet to clear up 24-hours losses, which is nearing 4 percent at report time.

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However, key players like BitMexs Authur Hayes and similar crypto proponents have hinted that altcoin season has arrived. Around this time, altcoins are expected to outperform Bitcoin, and as such an Ethereum bounce back is not unlikely.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Is it time to buy Bitcoin and Ethereum or is it altcoin season? - Crypto News Flash

Coinbase, an American exchange, has released a new listing roadmap causing these two altcoins to rally, an Ethereum (ETH)-based altcoin and a low-cap Arbitrum (ARB)-based project.

Based on the announcement, Coinbase would be integrating cross-chain bridge Multichain (MULTI) and Arbitrum-based stablecoin issuer and decentralized finance (DeFi) developer Sperax (SPA) to its listing roadmap.

Following the announcement, MULTI soared 12.6% from a 24-hour low of around $10.70 to an intra-day high of $12.05, barely hours after Coinbases Twitter post went up. However, the altcoin has since retraced to trade at $10.88 at the time of writing.

MULTI/USDT 1-day chart

The Multichain ecosystem is a cross-chain platform where users can conveniently bridge tokens across multiple blockchains. Based on latest data, the platform currently supports up to 74 chains.

On the other hand, SPA, an Arbitrum-based stablecoin issuer and DeFi developer reacted to the listing news with an uptick of around 70%, exploding from its 24-hour low of $0.00540 to an astonishing $0.00782 within minutes post-listing announcement.

SPA/USDT 1-day chart

While Sperax also pulled back shortly after, it regained momentum to secure a market valuation of around $0.00730 at the time of writing, denoting an increase of over 39% in the last 24 hours.

The Sperax ecosystem is reputed for developing a pioneer auto-yielding stablecoin. Speaking on the stablecoin, crypto analytics platform Messari said,

It combines the scalability benefits of algorithmic stablecoins with the stability benefits of collateralized stablecoins.

Securing a listing on a large cryptocurrency exchange is a big deal for any project as such events can often determine a make-or-break level for the adoption and market impact of the concerned coin. Moreover, being listed on one exchange relative to another could mean the difference between one hundred thousand and ten million customers. This explains why it is of utmost significance that a crypto project, new and old alike, secures a listing spot with top-tier exchanges like Binance or Coinbase.

Notably, a project could have a lot of potentialbut may fail to reach this potential simply because of a lack of exchange listings.

While featuring on Coinbases roadmap does not guarantee that Multichain and Sperax will be listed, it indicates that the largest crypto exchange in America has seen their potential and may support MULTI and SPA in the future.

Notably, Coinbase exchange developed a new roadmap system in an attempt to foster transparency in its listing processes while preventing inside trading.

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Coinbase listing roadmap fuel rallies in Ethereum-based altcoin and another Arbitrum-based project - FXStreet

The crypto market cap fell 4.48% in the last 24 hours, at the time of writing. Most of the wiped-out liquidity was from the altcoin market and Ethereum Classic was one of the coins at the forefront of the latest sell-off.

Is your portfolio green? Check out the Ethereum Classic Profit Calculator

A brief look at CoinMarketCap revealed that the top altcoins shed a substantial amount of value in the last 24 hours.

This decline was largely associated with the uncertainty caused by SEC chair Garry Gensler during a recent congressional hearing.

Ethereum Classic appears to be among the top coins caught up in the recent contagion.

Consider this- ETC fell by over 8% in the last 24 hours, wiping out all of the gains that it achieved in the second week of April.

The previous rally had resulted in a breakout from its megaphone pattern that prevailed since February. The breakout led to a stronger bullish expectation but ETC cooled down slightly since mid-February.

The selling pressure, at press time, pushed the alt below the 50% RSI level which suggested that the market favored the bears.

Switching to the 4-hour price chart revealed that the price was, at press time, oversold, but a slight recovery was in sight. This is because the price has retested short-term support near the $20.18 price zone.

While there is a significant prospect of a bounce back from the current level, it is worth noting that Ethereum Classic has so far lost slightly over $367 million from its market cap since 14 April.

However, it regained roughly $16 million from its 24-hour bottom.

Realistic or not, heres Ethereum Classics market cap in BTC terms

Furthermore, Ethereum Classics on-chain volume fell significantly in the last seven days. However, it registered a slight uptick over the last day, likely associated with the accumulation after the dip. Furthermore, the daily volume surged back above $200 million.

Current observations suggest that the initial wave of sell pressure is cooling down. The slight market cap gain indicates that some investors are already looking to capitalize on the recovery.

Ethereum Classic bulls were taking a break before the latest crash, hence many buyers may see the current drawdown as an opportunity to buy back at a steeper-than-anticipated discount.

While the current expectations are bullish, it does not necessarily mean that the bears are done with their assault. There is still a probability of more downside if Ethereum Classic fails to secure enough bullish momentum.

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Ethereum Classic [ETC] leads the altcoin decline- Heres the detailed report - AMBCrypto News

Prior to the Ethereum ICO of 2014, most early Bitcoiners were open to the idea of novel blockchain technologies. Even Satoshi Nakamoto, way back in 2010, took it for granted that an altcoin, BitDNS, would not only exist but would merge mine with Bitcoins hash rate.

During its early years, Bitcoiners anticipated that almost all public blockchain functions could integrate into the Bitcoin network in some way.

The community was tech-savvy and its cypherpunks, cryptographers, and computer developers could easily spot flaws in altcoins like the first Proof-of-Stake (PoS) altcoin, NXT. Dubious projects were quickly dismissed as irrelevant frivolities.

By 2015, Ethereum had raised some $18 million, promising attractive returns to investors who contributed BTC. In the words of Vitalik Buterin on March 6, 2014: What were hoping is something like what happened with Mastercoin so the value of Ether goes up by five [times].

Many Bitcoiners like now-deceased billionaire Mircea Popescu lamented the get-rich-quick framing of altcoin promoters like Buterin. Some began believing that only Bitcoin mattered and Popescu began ridiculing all altcoins with religious fervor, fostering a Bitcoin subculture of toxicity.

Nevertheless, Ethereum survived and its price eventually far exceeded any of its founders original forecasts. Almost no one lost money investing in ETH.

By 2016, with Ethereum rallying, the culture of Bitcoin maximalism remained subdued. Indeed, it wasnt until 2017 and the ICO bonanza that a sizable population of Bitcoiners began associating with maximalism.

According to a recounting by Jameson Lopp, The use of the word maximalist really came back into play during the scaling wars and 2017 ICO hype cycle. It seems that the use of toxic maximalism as a descriptor really picked up mid-2018.

Read more: Explained: Why bitcoins dominance is down this bear market

Soon enough, maximalists replaced the vision of Bitcoin becoming the base blockchain for myriad, alternative blockchains with a newer, far narrower mission: digital gold. Indeed, Digital Gold is the title of a book by one of Bitcoins most definitive historians, Nathaniel Popper.

As the pace of Bitcoin software upgrades slowed over the years and decision-making politicized, ambitious developers began building on non-Bitcoin blockchains.

Taking the above as context, we can now envision the world in which LayerTwo Labs founder Paul Sztorc originally proposed Drivechain to the Bitcoin community.

In 2014, almost no Bitcoiner would have considered themselves a maximalist. Paul Sztorc was one such Bitcoiner. He bought his first bitcoin in 2011 and has actively contributed since 2014.

Subsequently, he formally proposed Bitcoin Improvement Proposals (BIPs) 300 and 301, bundling them together under the name Drivechain. He suggested Bitcoin reclaim its expansive power for platforming, mining, denominating, and securing alternative blockchains.

Sztorc saw that many Bitcoiners were interested in altcoins and rather than denounce and ridicule them, Drivechain would allow them to work on their code using Bitcoins network and the BTC asset.

Specifically, Sztorc envisioned a network of side-blockchains that merge mine with Bitcoins mining network and use BTC as their base asset. In essence, sidechains are alternative blockchains complete with their own altcoins and market-determined values that use BTC as their funding mechanism and Bitcoin mining for their security.

Right now, most Bitcoin sidechains like Liquid and Rootstock (RSK) are federated. Most have a couple of dozen parties who are de facto custodians of the sidechains BTC collateral.

Unlike federated sidechains, Drivechain retains most of Bitcoins decentralized, peer-to-peer, and permissionless features. Sztorc resisted the idea of introducing a federation because it relies on trusted third parties to hold assets.

The essence of Drivechain is more peer-to-peer. No federation controls the keys to the sidechains BTC. Instead, the entire Bitcoin mining network approves the creation of sidechains, secures sidechains proof-of-work (PoW) security, and allows sidechain participants to peg their sidechain value back into Bitcoin for BTC.

In order to protect the security of BTC from double-spending and other attacks, Sztorc proposes a six-month process for leaving a sidechain and settling into BTC with irreversible finality.

In Drivechain, BTC transfers from sidechains to Bitcoins base chain use conjecture and refutation instead of verifiable proof to confirm the transactions. In mathematics, conjecture describes a process by which problem-solvers can reach the correct answer through deductive reasoning. Refutation refers to a method by which deductive reasoning can be used to demonstrate whether an answer is correct or incorrect.

BIP 300 describes Hashrate Escrows in which transactions from a sidechain to the main chain are signed using hash power instead of a cryptographic key. Hashrate escrows enable a non-federated, peer-to-peer, two-way peg that allows users to transfer assets to the sidechain and then back to Bitcoins base chain.

Many current sidechains use a one-way peg that allows asset transfers from the main chain to the sidechain, but not from the sidechain to the blockchain. A one-way peg effectively burns the assets, rendering them unusable on the main chain.

It mentions the motivation to create sidechains in which developers can experiment with new features without creating another digital asset that competes with bitcoin. Hashrate escrows provide a method for compressing three to six months of transaction data into a 32-byte piece of data.

BIP 301 proposes blind merge mining, which enables mining data from sidechains without validating the sidechains operations.

Blind merge mining allows miners to reuse their hash rate for sidechains without running any sidechain node. Bitcoin miners dont need to participate in any sidechain activity whatsoever; they simply accept fees from sidechains to include data within Bitcoin blocks. Moreover, blind merge mining doesnt require that miners be paid in any altcoin; they may only accept BTC.

A testnet for Drivechain already exists complete with a Bitcoin version of zCash as a Drivechain sidechain.

Nearly a decade since his original proposal, Sztorc remains a Drivechain evangelist. Hes continued to present Drivechain at conferences and has a new company called LayerTwo Labs, which seeks the adoption of Drivechain with a consensus approval of BIPs 300 and 301 into Bitcoin Core.

Sztorc says Drivechain could have avoided various conflicts throughout Bitcoins history. Instead of contentious hard forks like BCH, these forks could have existed as their own sidechain, accruing value to the whole community while allowing independent development.

Drivechain solves the feuds between Bitcoin maximalists and altcoin-curious Bitcoiners by creating a BTC-denominated platform to experiment with new altcoins without forcing the main Bitcoin network to do anything.

Disagreements can lead to the creation of a new sidechain to work on an experimental feature. Users can simply transfer their assets back to the Bitcoin network when theyre done interacting with the sidechain.

In an email to Protos, Sztorc concluded, Throughout Bitcoins history, people have disagreed over what the software should do. Drivechain allows the end user to choose their own software they can set their own blocksize, or their own smart contract stack. Bitcoin can now mimic any altcoin thus, altcoins are obsolete.

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What are sidechains and could they really make altcoins obsolete? - Protos