Cosmos (ATOM) and Injective (INJ) descended due to the downturn that plagued the crypto market in the previous week. As a result, investors have diverted their attention towards Borroe Finance ($ROE), as it appears to be the best crypto to buy.
Let’s explore the market dynamics of these top altcoins.
Cosmos Token Dips Amid Unsavory Network Outlook
In a December 27 update, Artemis, an on-chain data provider, revealed a drop in user engagement and trade volume on the Cosmos ATOM network. This development coincides with the plummeting price of ATOM, during which ATOM shed a notable portion of its value. Additionally, the revenue generated from fees on Cosmos also dipped, raising alarm about the health of the network.
Meanwhile, Cosmos recently secured a merger involving Osmosis and UX Chain, a move designed to boost cross-chain capabilities in the decentralized finance landscape. Also, a recent proposal passed within the protocol suggested a reduction in ATOM’s inflation rate from 14% to 10%. This move aimed to ensure the stability and security of Cosmos to pull in more investors and increase the use cases of ATOM.
However, the chart showed that Cosmos (ATOM) lost 5.64% of its market value, dropping from $11.20 to $10.60 between December 25 and December 31. This price action has cast a shadow over ATOM’s immediate future. Nevertheless, experts see a potential comeback and expect Cosmos (ATOM) to reclaim $11.00 in the days ahead, representing a 3.7% rise from the current price.
Investors March Towards Borroe Finance
Amid the Cosmos (ATOM) and Injective (INJ) descent, investors have sought out Borroe Finance ($ROE) as a more promising alternative. As one of the new DeFi projects, Borroe Finance ($ROE) has made significant strides following its inception, especially during its public presale. The project has raised over $2.2 million in seed funding and is almost halfway into its presale phase.
Borroe Finance is a marketplace for content creators to exchange future earnings, such as invoices, subscriptions, and royalties, for immediate cash. The platform creates a seamless fundraising process for businesses and individuals to raise funds. They do this by minting future earnings on Borroe Finance and trading them at discounted rates on the marketplace.
Another reason investors have their eyes on Borroe Finance is because of its native currency, $ROE. $ROE offers investors a chance to realize substantial gains, given its remarkable projection. Initially, Borroe Finance ($ROE) rose 75% from its beta stage price of $0.0175 to its current and third stage price at $0.04.
To enter the fourth stage at $0.019, $ROE requires an 8.5% surge from its current price level, making $ROE a good crypto to invest in for immediate profit.
Injective Burns 5.8 Million Tokens
Injective announced in a post on X that it has burned a significant amount of INJ tokens since its debut on the crypto scene. In particular, the blockchain took to its official X handle on December 29 to share with the public that it had transferred 5.8 million INJ to a dead wallet. This move is driven by the need to limit the circulating supply of Injective (INJ) to boost its value higher.
Early in August 2023, Injective issued a burn initiative for INJ tokens, authorizing a doubled-down effort on its weekly burn. This initiative allowed the decentralized applications subsisting on Injective allowance to burn INJ without a limit on its burn fees. Meanwhile, INJ declined despite the record burn rate on the Injective network.
As the chart reflects, Injective (INJ) is down 11.90% from $40.50 to $35.70 between December 25 and December 31. Based on its current trajectory, INJ is in a downward spiral. Therefore, experts predict another 15% decrease to $30.00.
As of today, over 5,800,000 total $INJ has been burned since mainnet launch🔥
— Injective 🥷 (@Injective_) December 29, 2023
Learn more about Borroe Finance ($ROE) here:
Visit Borroe Finance Presale | Join The Telegram Group | Follow Borroe Finance on Twitter
