Borroe Finance Gains Momentum Over Bitcoin and Ethereum in US Markets with ETF Approval
Overall, Bitcoin (BTC) and Ethereum (ETH) control more than 70% of the cryptocurrency market. When the US SEC announced approval of a BTC spot ETF on January 10, both tokens briefly soared. However, the cryptocurrency market rebounded due to the exodus of retail cryptocurrency traders. Cryptocurrency investors are looking for new DeFi projects such as: Boro Finance ($ROE) For high ROI in 2024. Read on to see what experts think about this token.
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Borroe Finance Will Stand Out Among Crypto Investors in 2024
In the second half of 2023, both experienced and novice cryptocurrency investors began looking for potential tokens that could yield high ROI in 2024. Luckily, these investors discovered Borroe Finance and invested over $2.6 million in $ROE. Borroe Finance has gained popularity among cryptocurrency investors after news broke that it is a newly built AI-powered funding marketplace designed to solve short-term liquidity issues in the web3 industry.
Currently, $ROE is in its 4th pre-sale phase and tokens are selling for $0.019. After all pre-sale stages, $ROE will be listed on top cryptocurrency exchanges and sold for $0.040. According to cryptocurrency analysts, this bullish $ROE price movement will result in a massive ROI of 110.5% for early investors in 2024.
Blackrock acquires BTC spot ETF after approval
Since the U.S. SEC decided on January 10 to approve a Bitcoin spot ETF, several investment and DeFi companies have taken the decision and implemented it for future gains. For example, BlackRock iShares Bitcoin Trust received 6,495 BTC tokens (about $254.7 million) from Coinbase Prime on January 23. Lookonchain also reported that BlackRock Bitcoin holdings currently stand at 39,925 tokens (about $1.59 billion).
Despite this BlackRock acquisition, BTC was weak in January. On January 17, BTC was trading at $42,680. A week later, BTC was sold at $40,134, a loss of 6.02%. According to Kiyoung Ki, CEO of CryptoQuant, BTC fell due to selling activity in the derivatives market. The lord also advised investors to follow cryptocurrency news from institutional investors like BlackRock and wait for BTC to break the $50,000 resistance later this year.
ETH recorded double-digit price declines in 2024.
Following the approval of Bitcoin’s Spot ETF, the cryptocurrency industry naturally gravitated toward achieving the same goal for top altcoins, with Ethereum at the forefront. On January 23, US SEC Commissioner Hester Pierce stated that the commission would not make the same mistake in approving the Ether ETF as it did the Bitcoin ETF. She made it clear that the SEC plans to conduct the ETF approval process without court intervention.
In the market, derivatives trading also affected Ethereum, with ETH weakening in January. On January 17, ETH was trading at $2,549. After 7 days, ETH fell 12.28% to $2,232. Experts believe that if the Ethereum Spot ETF becomes a reality in 2024, Ethereum will hit an all-time high of $5,000 and become the best cryptocurrency investment of the year. Analysts predict that ETH will remain weak and trade at $2,250 by March.
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