Can ApeCoin and Monero Regain Momentum? Will This New Crypto Gem Overtake Crypto Dominance?

The sharp decline in NFT activity has cast doubts over ApeCoin’s ($APE) potential recovery. Likewise, Monero ($XMR) is also struggling with low investor sentiment despite the recent release of its mining equipment. On the other hand, the Borroe.Finance ($ROE) blockchain ICO offers a ray of hope to investors. 

Its upcoming 33.3% growth in October is attractive. But can that make $ROE a top ICO project or a better alternative than $APE and $XMR in 2023?

Declining NFT Activity Leads To A Drop In The ApeCoin ($APE) Price

Since April 2023, NFT activity has been on a steady decline. ApeCoin ($APE) and several other popular NFT projects have recorded sharp drops in market value. Data from CryptoSlam shows that NFT trading volume has declined by 34.08% since August. The NFT decline coincides with ApeCoin’s ($APE) recent market struggles.

Like other projects, ApeCoin’s ($APE) problems were worsened by the market crash of early September. $APE was trading at $2.47 on August 30. The market crashed on September 1, causing reduced investor sentiment for many projects, including ApeCoin ($APE). 

By September 25, $APE had fallen by 55% to $1.11 due to prevalent bearishness.

One of the most affected projects is ApeCoin’s Bored Ape Yacht Club NFTs. By August 22, ApeCoin’s BAYC NFTs had recorded a 72% drop in its year-on-year floor price. As a result, many analysts say NFT activity might not recover this year. 

This means ApeCoin’s ($APE) investor sentiment could remain low until 2024. If that happens, $APE could end the year trading at $0.87, falling by 21.6% from its September values.

Monero ($XMR) Pulls off Slight Recovery After Bearish September

September 2023 was a red month for the crypto industry. Several projects like Monero ($XMR) recorded a fall in investor sentiment. Worse yet, most projects have been unable to recover from their September price drop. 

Yet, Monero’s $XMR token has pulled off a slight recovery, causing speculations that it might return to its 3-month high. $XMR had dropped to $140.82 on September 1 following the market crash. However, by September 27, Monero ($XMR) had risen by 3.9% to $146.43 despite the widespread bearish sentiments.

Some analysts pin $XMR’s recovery on Monero’s recently released mining equipment. On August 28, Bitmain released a new Monero ($XMR) ASIC-mining equipment. The new Monero ($XMR) miner caused widespread debates because of the controversial view of ASIC miners.

Analysts further speculate that $XMR could jump by 6.8% to $156.43 due to rising mining activity on Monero.

Borroe.Finance: Decentralized Funding Approach for Web 3.0 Businesses

Borroe.Finance ($ROE) offers a solution to DeFi companies seeking funding from the communities that support their causes. It is native to Polygon, and it provides a community-powered lending ecosystem.

On the Borroe.Finance ($ROE) marketplace, users can generate funds by taking loans using their future earnings as collateral. Users then sell off this collateral in exchange for timely loans. This approach to invoice financing helps NFT creators, musicians, and other crypto-based projects to leverage their future and outstanding earnings.

Borroe.Finance’s ($ROE) use of blockchain technology results in instant funding and cheap marketplace fees. It also offers easy, low-risk investment opportunities to its users. Special benefits of Borroe.Finance include special notifications on funding requests, wider visibility to loan requests, and priority customer support.

After selling over 100 million tokens, Borroe.Finance has quickly become one of the most popular NFT projects. $ROE started its presale trading at $0.0100. It has since grown by 50% to reach $0.0150 as it entered Stage 2 of its presale. 

$ROE will reach $0.0400 when its presale runs out. Given these projections, analysts say Borroe.Finance could become one of the best DeFi projects to join this fall.

Learn more about Borroe.Finance ($ROE) here:

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