Based on digital asset trends, the social metric of Arbitrum ($ARB) dived in October as the crypto market spiraled downward. Also, dYdX ($DYDX) plummeted due to buyers’ doubts fueled by the current market status. Amid these developments, blockchain invoice discounting NFT platform BorroeFinance ($ROE) has restored optimism among market players, leading to experts dubbing it the best cryptocurrency in the bear market.
Why is $ROE considered the best crypto to buy during a bear cycle? Let’s find out!
Arbitrum witnessed substantial inflows of liquidity between October 9 and October 15. Emperor Osmo, a blockchain data analyst at Artemis, reported this development via the X platform. According to Emperor Osmo, the net inflow of Arbitrum at the time stood at $78.38 million.
Despite the enormous amount of liquidity accumulated, Arbitrum’s native token, $ARB, recorded lower trading volume during the highlighted period. Santiment, an on-chain analytic firm, reported that the trading volume of Arbitrum ($ARB) dropped to $50.17 million. This data reflects a reduced interest in Arbitrum ($ARB).
Also, the social volume and dominance of Arbitrum ($ARB) slumped, according to recent social metrics. Likewise, Arbitrum’s daily active addresses fell to 41,100 in the past week. Experts alluded to the bearish condition of the general market as a major factor behind these developments.
Additionally, $ARB fell from $0.846 to $0.803 between October 7 and October 15, shedding 5.07% of its market value. Seeing as the decline has continued into the subsequent week, analysts believe $ARB might hit $0.750. This descent means a 5.06% decline in the price of Arbitrum ($ARB) is underway.
On October 3, dYdX released new tokens culminating at 1.2% of its total $DYDX supply into circulation. Token Unlocks reported this development via a tweet on X. According to the information in the post, dYdx disbursed 2.96 million $DYDX tokens valued at $4.4 million at the time.
Funneling new tokens into circulation typically results in subsequent price declines. As a result, $DYDX shed 12.19% of its market value following the unlock. To be precise, market data revealed that $DYDX fell from $2.05 to $1.80 between October 3 and October 17.
Experts have projected further declines in the price of $DYDX due to the current state of the market. According to them, $DYDX will shed 5.5% of its market value from the current price of $1.80 to $1.70. This projection rules out $DYDX as a good crypto to invest in today.
While the bears torment most top altcoins like $ARB and $DYDX, $ROE remains immune to their hex. Here’s what makes $ROE different: BorroeFinance, the protocol hosting $ROE, is a marketplace for subscriptions, royalties, and invoices. The BorroeFinance blockchain is powered by AI technology.
This platform enables content creators and Web3 enthusiasts to earn nonstop from trading NFTs as invoices. To this end, BorroeFinance mints non-fungible tokens, which businesses can sell as future or outstanding invoices in the marketplace. BorroeFinance also ensures buyers’ convenience by facilitating automatic repayment.
BorroeFinance’s platform is aligned with Web3’s goal of giving users more power and control over their data and online experiences. This could lead to a future where users can obtain more value from their contributions.
$ROE kicked off its public presale at a Beta Stage price of $0.010. Anyone who invested in $ROE from the beta stage will realize a 300% gain on their capital when the asset reaches $0.040 at the final stage. $ROE is presently the best cryptocurrency to invest in, available at $0.015 in Stage 2 of presale.
Investors can buy into BorroeFinance ($ROE) with credit or debit cards, Ethereum ($ETH), Binance Coin ($BNB), Tether ($USDT), USD Coin ($USDC), and over 100 other popular cryptocurrencies.
Learn more about BorroeFinance ($ROE) here:
Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter
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