In a bid to recoup their losses from the recent crypto downturn, investors are watching the market to see which tokens have the highest potential. Despite investor expectations, Cardano (ADA) is already bracing up for a legal battle with the SEC while Dogecoin (DOGE) holders struggle to understand their falling network activity.
Meanwhile, Borroe ($ROE) is expected to challenge for a spot in the top 5 cryptocurrencies of 2023. Can it become a better investment than Cardano (ADA) and Dogecoin (DOGE)? Let’s see what investors think.
Never before have companies in the blockchain industry been able to access efficient fundraising opportunities easily. With Borroe ($ROE), Web 3 businesses can easily manage day-to-day operations by taking working loans by using their future revenue as collateral.
Borroe ($ROE) allows companies to easily create funding offers that meet the unique needs of their businesses. For instance, NFT artists, writers, digital creators, and musicians can create Borroe ($ROE) loans to side-step the effects of irregular income streams or delays in receiving payments from clients.
Borroe ($ROE) also provides easy access to crypto and fiat payment solutions. Therefore, it enables companies to conduct business operations without the bottlenecks of currency exchange, especially across large borders.
Both borrowers and lenders enjoy instant transactions, discounts on Borroe’s ($ROE) marketplace and transaction fees, plus special notifications on the latest fundraising offers.
With a projected 300% growth by the end of its presale, Borroe ($ROE) is expected to become one of the top DeFi projects to invest in. It has already risen 25% from its Beta Stage price of $0.010 to its Stage 1 price of $0.0125.
So, investors expect Borroe ($ROE) to become one of the top blockchain ICO projects this year.
The Securities and Exchange Commission (SEC) labeled the Cardano (ADA) token a financial security in a lawsuit against Coinbase. As a result, Cardano (ADA) holders are now preparing for possible regulatory challenges and even delistings from popular crypto exchanges.
Cardano’s (ADA) founder has come out to reassure token holders, claiming that the SEC hasn’t tried to pursue any enforcement action. Ironically, his reassurance comes amid fears over an August 4 report that showed that Coinbase was thinking of delisting Cardano (ADA) due to its ongoing lawsuit against the SEC.
Of course, a trail of delistings would worsen Cardano’s (ADA) market standing as reduced trading activity could lead to a sharp fall. Such a decline will have adverse consequences on Cardano (ADA), especially because the August 17 market crash has already sent it to the red zone.
Cardano (ADA) was trading at $0.28 on August 15. Only two days later, it joined the rest of the market, falling by 10.7% to $0.25 on August 17. As of August 24, Cardano (ADA) recovered by 4% to $0.26 only a day after its founder told token holders not to worry about the SEC.
Some analysts expect Cardano (ADA) to drop by 30.7% to $0.18 if the SEC’s stance forces other exchanges to delist ADA tokens.
Dogecoin’s (DOGE) network performance over the past few weeks has been largely contrasting. Between July 19 and August 19, Dogecoin’s (DOGE) daily active addresses surged to 10.07 million. In contrast, Dogecoin’s (DOGE) daily transaction count from July 30 to August 19 had dropped from 739,830 to 79,150 – a sharp 89% decrease.
Usually, a surge in daily active addresses indicates increased activity. However, Dogecoin’s (DOGE) sharp decline in transaction count paints a different picture.
Some DOGE holders suspect its falling price is due to such mixed network metrics – especially its transaction count. Unfortunately, a sharp recovery for Dogecoin (DOGE) isn’t on the cards because the token is still reeling from the effects of the market downturn on August 17.
Dogecoin (DOGE) was trading at $0.081 on July 25. By August 15, it dropped by 13.5% to $0.070 as its transaction count declined. As the market crashed on August 17, Dogecoin (DOGE) fell by another 14.2% to $0.060.
Analysts say it could decline to $0.059 if its network activity remains volatile.
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