What next for the lending token?

What is CoinLoan?

CoinLoan provides crypto borrowing, lending and trading services. According to the company, CoinLoan is a regulated financial institution licensed under the Estonia Financial Authority, which operates worldwide. CoinLoan said it chose to be regulated by Estonian law because the North European nation has one of the world’s most crypto-friendly environments.

The company offers crypto wallet, trading and lending services, all under one umbrella, to help its customers avoid paying gas fees when transferring crypto assets between exchanges, wallets and lending platforms.

CoinLoan’s interest accounts pay users daily interest on their idle deposits. The company has said the minimum deposit period for a CoinLoan interest account is one day and the maximum is unlimited. Interest is paid in the same currency as the customer’s deposit, which means a customer will earn interest in BTC on their BTC deposits, or in ETH on their ETH deposits.

“When you deposit money to the interest account, we technically borrow your funds and pay you compound interest. Once the funds are deposited into the account, they start to generate profit,” said CoinLoan. 

The highest rates, up to 12.3%, are offered on euro (EUR), pound sterling (GBP) and stablecoin deposits. Bitcoin (BTC) and ether (ETH) deposits offer an annual percentage yield of up to 7.2%. The platform also supports interest deposits using other cryptocurrencies, including cardano (ADA), link (LINK), uniswap (UNI), sushiswap (SUSHI), polkadot (DOT), axie infinity (AXS), compound (COMP), stellar (XLM), ripple (XRP), litecoin (LTC), monero (XMR) and maker (MKR).

CoinLoan’s instant loans let customers borrow EUR and GBP fiat currencies, stablecoins and various cryptocurrencies without credit checks, by collateralising their cryptocurrency assets. Customers will need to complete ‘know your customer’ (KYC) verification to take out CoinLoan’s instant loans, and users can borrow at most 70% of their collateral value.

CoinLoan offers a minimum loan period of seven days and a maximum of three years. Annual interest rates start at 4.95% and can go up to 11.95% depending on the chosen loan-to-value (LTV) ratio, the company said.

The LTV ratio is the ratio between the loan amount and the value of collateralised assets. A higher LTV ratio will incur a higher interest rate.

CoinLoan also provides crypto trading services and supports about 22 different cryptocurrencies as of 10 March. CoinLoan has a smartphone app for iOS and Android.

What is CoinLoan (CLT) coin ?

Now that we have learned about CoinLoan’s various offerings, let’s take a look at the CLT coin and its value proposition.

CLT is the native token of CoinLoan. CLT is an Ethereum-based ERC-20 token that is used to pay platform fees, secure loans and receive bonus interest on deposits.

According to CoinLoan, CLT holders can deposit CLT in a staking account on CoinLoan to receive bonus interest, a maximum of an additional 2%. The interest rates paid out on interest accounts increase by 0.1% for every 125 CLT a user holds.

If a customer holds 2,500 CLT tokens or more, they will be eligible to earn a maximum interest of 12.3% on stablecoins and 7.2% on BTC, CoinLoan said.

CLT price performance: Bearish movements in 2022 

According to the CoinLoan coin price chart, its native token CLT was trading at $25.44 at time of writing on 10 March. CoinLoan coin has a market capitalisation of $49.6m, according to CoinMarketCap, and is the 521st biggest cryptocurrency by that metric. 

Over the past year, the CLT token has surged by about 235%. It hit an all-time high of $40.82 in late December 2021. As of 10 March, CLT coin is trading about 37% below its all-time high. 

The token hit an all-time low of $12.42 in September 2021, according to CoinMarketCap. CLT coin’s 52-week high and 52-week low are $40.82 and $5.17, respectively.

The CLT coin’s value has seen some weakness recently, falling over 9% over the past month. At time of writing, the three- to 10-day simple moving averages (SMA) and exponential moving averages (EMA) indicated ‘sell’. However, CLT’s 200-day SMA and EMA indicated a ‘buy’. Its moving average convergence divergence (MACD) and the relative strength index (RSI) were neutral, according to CoinCodex.

Data from CoinMarketCap showed that CLT has a maximum supply of 22 million tokens and its current circulating supply stands at 1.95 million tokens.

CoinLoan crypto news: Strong showing in 2021

According to CoinLoan’s annual report for 2021, the lending platform enjoyed a breakthrough year in 2021 as the number of active users jumped by nearly 900%.

The platform saw significant spikes in wallet deposits and exchange turnover in 2021. Crypto-backed loans issued by CoinLoans surged over 2,000% year-on-year (YoY) and interest account deposits ballooned by over 1,700% YoY in 2021.

In 2022, the company said it will look to expand into more international markets, and add support for more languages to facilitate such expansion. CoinLoan is also planning to launch a crypto debit card in partnership with Visa. 

CoinLoan is developing a loyalty programme for CLT holders and is planning to launch new CLT coin utilities for its Instant Loan services. In an interview with TechRound, CoinLoan founder Alex Faliushin said:

“Our sole aim is to create a single platform for managing all of our customers’ digital assets. We are planning to launch our debit crypto card, implement margin trading, add new asset classes, along with improved exchange functionality, and so much more.”

CoinLoan crypto price prediction: Targets for 2022, 2025 and 2030

According to a short-term CoinLoan price prediction from CoinCodex (as of 10 March), the value of the token could rise over 9% to $27.68 by 15 March 2022. CoinCodex added that technical indicators showed the current sentiment for CLT as ‘bearish,’ while the fear and greed index indicated ‘fear’ among CLT investors. CoinCodex said:

“Based on our CoinLoan Token forecast, it’s now a bad time to buy CoinLoan Token.”

According to PricePrediction.net’s CLT/USD forecast, the token could hit an average price of $35.68 in 2022. CLT/USD was expected to reach about $116 in 2025 and $751 in 2030.

The CoinLoan price prediction from WalletInvestor (as of 10 March) said the token could be an “awesome long-term (one-year) investment”. WalletInvestor expected the price could reach about $52 by March 2023 and over $153 by 2027.

DigitalCoinPrice expected the CoinLoan token price to trade at an average price of $33.24 in 2022. Its CLT crypto price prediction expected the token to hit an average price of about $49 in 2025 and about $116 in 2030.

When looking at CoinLoan future price estimates, do bear in mind that analysts’ and algorithm-based predictions can be wrong. The CoinLoan predictions are based on fundamental and technical studies of the cryptocurrency’s past performance, which offers no guarantee of future results.

It’s essential to do your own research and always remember that your decision to trade depends on your attitude to risk, your expertise in the market, and your investment portfolio spread. You should never invest money that you can not afford to lose.

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