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The post Borroe Finance Gains Momentum in US Market Following ETF Approval, Outshining Bitcoin and Ethereum appeared first on Coinpedia Fintech News
Collectively, Bitcoin (BTC) and Ethereum (ETH) control over 70% of the crypto market. Both tokens surged briefly when the US SEC announced its approval for BTC Spot ETFs on January 10. However, the crypto market retraced due to the exit of retail crypto traders. Crypto investors are looking towards new DeFi projects like Borroe Finance ($ROE) for high-ROI in 2024. Keep reading to see what experts think about these tokens.
Borroe Finance Rises to Prominence Among Crypto Investors in 2024
In the second half of 2023, savvy and beginner cryptocurrency investors set out to find potential tokens for high ROI in 2024. Luckily, these investors found Borroe Finance and invested over $2.6 million on $ROE. Borroe Finance became popular among crypto investors after news broke that it is a newly built AI-powered fundraising marketplace designed to solve the short-term liquidity problem in the web3 industry.
Currently, $ROE is in its fourth presale stage, and the token is selling for $0.019. When all presale stages are over, $ROE will be listed on the best crypto exchanges and sold for $0.040. According to crypto analysts, this bullish $ROE price movement will lead to a massive 110.5% ROI for early investors in 2024.
Blackrock Makes Acquisition Following BTC Spot ETF Approval
Following the US SEC’s decision to approve Bitcoin Spot ETFs on January 10, multiple investment and DeFi companies made and executed decisions in their future interest. For instance, BlackRock iShares Bitcoin Trust got 6,495 BTC tokens (approximately $254.7 million) from Coinbase Prime on January 23. Furthermore, Lookonchain reported that BlackRock Bitcoin holdings now stand at 39,925 tokens (approximately $1.59 billion).
Despite this BlackRock acquisition, BTC went bearish in January. On January 17, BTC traded at $42,680. A week later, BTC lost 6.02% and sold for $40,134. According to CryptoQuant CEO Ki Young Ju, BTC fell due to the selling activity in the derivative markets. Furthermore, Young Ju advised investors to follow crypto news from institutional investors like BlackRock and wait for BTC to break the $50,000 resistance later this year.
ETH Records Double-digit Price Dip in 2024
After Bitcoin’s Spot ETF approval, the crypto industry naturally gravitated towards achieving the same for top altcoins, and Ethereum was first in line. On January 23, the US SEC commissioner Hester Pierce revealed that the commission will not make the same mistakes with Ether ETF approvals as it did with Bitcoin ETFs. She made it clear that the SEC plans to conduct ETF approval processes without the intervention of a court.
On the market front, derivatives trading also affected Ethereum, and ETH went bearish in January. On January 17, ETH traded at $2,549. Seven days later, ETH lost 12.28% and traded at $2,232. If Ether Spot ETFs become a reality in 2024, experts believe Ethereum will hit a new all-time high of $5,000 and become the best crypto investment this year. Analysts predict that ETH will stay bearish and trade for $2,250 by March.
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