Compound (COMP) and dYdX (DYDX) are in a worse market position after August 17. Trouble started for Compound (COMP) after the interest rate hike announced on July 26 while dYdX (DYDX) troubles started after the August 17 market wide crash. As expected, many investors are now turning to Borroe ($ROE), especially after its 25% surge.
Can Borroe ($ROE) become a top ICO in 2023? Let’s see what analysts are saying.
Compound (COMP) Takes A Bearish Turn Following Interest Rate Hikes
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! The Federal Reserve announced an interest rate hike on July 26, 2023. Trading activity reduced for various tokens as credit availability dropped. The effect of the interest rate hike was also very noticeable in the DeFi industry that’s very dependent on traditional credit facilities.
Crypto lending services also declined, especially on platforms like Compound (COMP) who were likely affected by reduced investor sentiment towards the crypto market.
Compound’s (COMP) woes worsened as Curve Finance was hacked on July 30 leading to panic around finance tokens. As expected, Compound (COMP) price dropped alongside many DeFi tokens.
Compound’s (COMP) fall was also largely influenced by the August 17 market downturn. So, Compound (COMP) could rise to $62.45 once the crypto market turns bullish. If these predictions come true, Compound (COMP) could emerge as one of the best DeFi projects.
dYdX (DYDX) Sinks as $1 Billion Worth of Liquidations Hit the Crypto Industry
The crypto market crashed on August 17, 2023 after economic reports from Asia were released. Bitcoin (BTC) had crashed first before several other tokens like dYdX (DYDX) followed suit.
The drop triggered market-wide liquidations to the tune of $1 billion. The liquidations also affected mostly Bitcoin and Ethereum trading positions but it also spread to other smaller markets, possibly affecting dYdX trading positions.
The DeFi industry was severely affected by the events of August 17 as top DeFi projects like dYdX (DYDX) crashed sharply in contrast to their recent bullish momentum. dYdX likely recorded reduced network activity due to the market-wide panic.
DYDX could rise by 15.8% to $2.12 if the DeFi market rises sharply after the current market decline, thus boosting dYdX’s network activity.
Borroe ($ROE) Holders Rejoice over Upcoming 50% Increase
The blockchain is not new to tokens, promising huge returns without strong real-world utility. So, many investors were shocked to find that the Borroe ($ROE) token is far more than hype, especially after Borroe’s ($ROE) plan to change revenue financing was announced.
Borroe ($ROE) is a fundraising firm that uses AI services and blockchain technology to broaden user access to fundraising services. With Borroe ($ROE), Web 3 businesses can easily get the needed loans to help them operate efficiently.
The platform allows companies to use their future invoices as collateral – an approach that’s unheard of in the crypto industry. It also connects revenue finance providers to such companies with ease.
Borroe’s ($ROE) marketplace offers speed and efficiency, discounts, priority notifications, and awards for marketplace contributions.
Demand for Borroe ($ROE) has grown sharply after its recent 25% price jump when it entered Stage 1 of its presale. Now Borroe ($ROE) is trading at $0.0125, but it’s expected to rise to $0.040 by the end of its presale, a 220% increase.
So, Borroe’s ($ROE) projections make it one of the best cryptocurrency investments of 2023.
Learn more about Borroe ($ROE) here:
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