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Dogecoin’s (DOGE) and Litecoin’s (LTC) recent performance mirror the general bearish sentiment that has enveloped the crypto market over the past week. Now, both tokens are looking for a way out of their current bearish slump. However, analysts say that will be difficult as Dogecoin (DOGE) and Litecoin (LTC) will face increased pressure from Borroe ($ROE) – a decentralized fundraising marketplace that caters to the DeFi industry’s growth. Borroe ($ROE) is projected to grow by 300% by the end of its presale. But will that make it one of the top DeFi projects? Let’s hear what analysts have to say.
Summary
Dogecoin (DOGE) Tops The List of Struggling PoW Tokens
Dogecoin (DOGE), one of the most popular Proof of Work (PoW) tokens, has dropped sharply since August 17, 2023. Its drop is due to the bearish wave that hit the crypto market, sending many tokens down and triggering a $1 billion wave of liquidations.
While the exact cause of the market crash is uncertain, there are strong suspicions that it’s linked to the market reports from Asia released on August 17. Dogecoin’s (DOGE) network metrics were high, causing investors to expect bullish movements, but the effect of the market crash was severe.
Other proof-of-work tokens like Bitcoin (BTC) and Bitcoin Cash (BCH) also dropped considerably. After the price drop, the Dogecoin (DOGE) community was embroiled in an argument over a possible switch to Proof of Stake (PoS).
Dogecoin (DOGE) was trading at $0.074 on August 15. Two days later, the market tanked, sending Dogecoin (DOGE) down by 18.9% to $0.060. Analysts expect Dogecoin (DOGE) to rise to $0.072 when the market recovers.
Litecoin (LTC) Holders Are “Afraid” Of The SEC
The Litecoin (LTC) community is gearing up for regulatory tensions after the SEC’s recent court appeal of the July 14 victory for Ripple’s XRP.
The SEC’s appeal was announced on August 18, 2023, a day after the crypto market experienced one of its worst liquidations since the start of the year. There are fears that the appeal could lead to a bearish momentum for Litecoin (LTC) and other tokens due to regulatory uncertainty and possible delisting from crypto exchanges.
The SEC has not formally proclaimed Litecoin (LTC) to be a security. Yet, its holders are concerned due to the growing list of tokens labeled “financial securities” by the SEC. Some of these tokens include Proof of Stake (PoS) tokens like Polygon (MATIC), Cardano (ADA), Cosmos (ATOM), and Binance Coin (BNB). Naturally, token holders fear Litecoin (LTC) might be added to this list as the SEC’s appetite for crypto regulation grows.
Litecoin (LTC) was trading at $81.72 on August 15. However, it dropped by 22.2% to $63.51 on August 17 following the market crash. Analysts say Litecoin (LTC) could drop further by 11.5% to $58.41 due to negative sentiment around the SEC’s appeal, meaning it might not be a good crypto to buy now.
Borroe ($ROE): Boosting Efficiency By Providing Crucial Loans to the Web 3.0 Industry
The Web3 industry is about to get a mega boost thanks to the upcoming launch of Borroe ($ROE) Finance – a decentralized marketplace that caters to businesses looking to generate funding for day-to-day business activities.
Given the limited access to traditional finance opportunities by Web 3.0 companies, Borroe ($ROE) is specially designed to help companies in this emerging sector secure quality loans that serve as working capital.
The Borroe marketplace relies on fractionalized NFTs to simplify the loan-taking process.
Users collateralize their future invoices by turning them into NFTs that can easily be used to take loans on the marketplace. These NFTs can be designed with special rewards, making them more attractive to investors on the platform’s marketplace.
Raising funds on Borroe’s ($ROE) marketplace is optimized to be easier than what’s available on traditional finance platforms. This is thanks to blockchain technology that grants users low fees, instant funding, and high security.
Borroe users receive special rewards for their marketplace activity. For instance, the platform rewards token holders for using their governance rights when they vote on proposals.
Borroe’s ($ROE) presale is still in Stage 1. However, it has already risen by 25% from its starting price, reaching $0.0125. By the end of Borroe’s presale, $ROE is expected to reach $0.040, rising by 300% from its starting price.
Many analysts agree that Borroe’s ($ROE) expected growth makes it one of the best crypto coins to buy in 2023.
Learn more about Borroe ($ROE) here:
Visit Borroe Presale | Join The Telegram Group | Follow Borroe on Twitter
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