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Recent market data showed that participants are staking high on Dogecoin (DOGE) as its open interest exceeds a three-year high. On the other hand, Borroe Finance ($ROE) leads the altcoins market with a staggering $3 million raised in the fourth stage of its presale.
Let’s consider these top crypto coins to determine what the market thinks.
Summary
Dogecoin Open Interest Hits 3-year High
Prominent on-chain market resource Coinglass has shared a recent development touching Dogecoin’s open interest via a publication on its official website. The data disseminated on March 4 revealed that DOGE’s open interest had attained its highest figure after nearly three years. Specifically, the futures OI of the flagship meme coin reached $1.19 billion.
Similar to Dogecoin (DOGE), the broader meme coin market witnessed a parabolic surge in the past week, represented by its hiked capitalization. As a result, meme projects, including Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Floki (FLOKI), and Bonk (BONK), acted accordingly. Dogecoin (DOGE) rose to $0.14, riding on the market-wide take-off.
The latest surge in Dogecoin’s futures open interest insinuates an influx of capital into DOGE’s derivatives market. It also suggests that more traders are opening or holding new positions. Coinglass also noted that Dogecoin’s exchange funding rates have been positive since the bull market kicked off in October 2023.
Dogecoin (DOGE) rose 107.8% from $0.0861 on February 26 to $0.179 on March 4. Analysing Dogecoin, experts opined that DOGE may experience an upsurge to $0.200 in the days ahead. This projection translated to an 11.7% increase in the current price of DOGE.
Borroe Finance Displays Strength After Raising $3 Million
With interest in Borroe Finance ($ROE) gradually burgeoning, the DeFi project has hit a significant funding milestone. Notably, Borroe Finance ($ROE) has raised over $3 million, indicating the amount of $ROE tokens already acquired. As sales blossom, the price of $ROE is set to blow up in the same vein.
An exciting aspect of Borroe Finance is its use case as a funding marketplace for trading future earnings. Future earnings, such as outstanding invoices, subscriptions, and royalties, among other future earnings, are minted as non-fungible tokens on the platform and sold for immediate cash. This method serves as an avenue for these parties to raise funds.
The platform also abides by the dictates of Web3, enforcing equal value distribution between creators and users. As one of the top DeFi projects, its dApps features a list of DeFi tools. These include CrossFi, a liquidity pool, and other tools.
Built on the Polygon blockchain, Borroe Finance ($ROE) is a deflationary token with a burning mechanism to aid in creating scarcity in the future, which, in turn, boosts its value. The Borroe Finance token is trading for $0.019 per token in the fourth stage of its presale, having experienced 90% growth. From here, investors anticipate another 110.5% rally to $0.04 before Borroe Finance ($ROE) lists on a DEX.
Learn more about Borroe Finance ($ROE) here:
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