Creditcoin (COIN: $CTC) is a lending and borrowing solution designed to help cryptocurrency holders gain access to credit on the blockchain.
For most of 2023, the global cryptocurrency market cap has been holding up over the $1 trillion mark. While this is quite impressive in terms of value, the worldwide crypto industry is still unable to provide a fully sustainable financial ecosystem, comprised of savings, payments, and investments for the world.
Data from the IMF shows the global nominal GDP is around $96.31 trillion. In comparison, the global capital investment market is worth about $137.3 trillion. If that same math was applied to the crypto industry, a $1 trillion market cap would mean there is potential for a $1.425 trillion global crypto investment market.
Creditcoin is looking to tap into this relatively new, untapped segment of the blockchain industry.
The Future Of Credit
Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets.
By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history and facilitating trust for millions of underserved financial customers and businesses based on the principles of Real World Assets (RWAs).
Creditcoin, May 2023
The Creditcoin Ecosystem
Creditcoin has partnered with Gluwa and Aella. Gluwa is the technology provider, while Aella is the distributor and agent within the ecosystem. In short, Gluwa builds, and Aella acquires the users.
Creditcoin Token Details
$CTC is the native cryptocurrency of Creditcoin ecosystem and secured using the proof of work consensus algorithm. The $CTC tokens are the mainnet coin, while the $G-CRE tokens are an ERC20 token. $G-CRE tokens are used for trading and vesting, and they can be swapped for $CTC tokens via a one-way hook at a 1 to 1 ratio.
In regards to token distribution, 70% of the $CTC tokens have been allocated to Creditcoin miners and the remaining 15% to Gluwa Inc., 10% to Investors, and 5% to the Creditcoin Foundation.
Token Performance
The price of a $CTC token is $0.1654 as of August 21, 2023. The 24-hour trading volumes remain high at $23.9 million, a sign of a thriving ecosystem. It’s market cap is around $42.1 million, with a circulating supply of 254,464,279 $CTC. The current price of $CTC represents a -98.16% discount from the all-time high price of $8.7069, which it achieved on March 8, 2021.
[Click The $CTC Chart Above To View On CoinMarketCap]
All Things Considered
At its core, Creditcoin is designed to address a real-world problem of the inadequacy of the global credit system. Billions of unbanked people are unable to achieve their full financial capabilities. Creditcoin allows the unbanked masses to access credit, creating real-world value for the whole world. With such a positive value proposition, $CTC could grow to become a top-100 crypto project in the not-so-distant future.
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