Polygon (MATIC) and Avalanche (AVAX) under Pressure
Polygon (MATIC) and Avalanche (AVAX) are facing challenges in the cryptocurrency market. However, Borroe’s (ROE) growth potential and real-world utility are attracting more investors, leading to over 93% of tokens being bought during the ongoing presale.
Borroe Investors Bullish
Borroe is a funding marketplace that enables content creators and web3 participants to receive upfront funds from future recurring revenues. Businesses in the web3 community can utilize the Borroe ecosystem to generate instant cash flow by minting non-fungible token (NFT) representations of future and outstanding invoices, which are then sold at a discounted price in the Borroe marketplace. Borroe’s deflationary token, ROE, is issued on Polygon, a scalable Ethereum sidechain.
ROE holders can use the token for various purposes, including purchasing invoices, repaying rewards, receiving priority notifications on new sales, obtaining discounts, and participating in social media share-to-earn opportunities.
Investors have already purchased 25 million ROE in the ongoing presale, driven by Borroe’s compelling value propositions. The current price of ROE is $0.0125, and it is expected to increase by 25% in the next presale stage. Early investors buying ROE in stage 1 stand to benefit as it will be listed for $0.040 by the end of the crowdfunding.
MATIC Facing Decline
Polygon recently revealed plans to introduce a new native token, POL, which may replace MATIC if approved by the community. As a result, MATIC has experienced an 18% decline in the last two weeks, and 90% of MATIC investors have sold their token holdings.
MATIC is currently trading at $0.71, experiencing a 1.76% drop in the last 24 hours, accompanied by a 29.23% reduction in associated trading volumes. Some experts predict further sell-offs of MATIC, potentially pushing prices below $0.50, while others remain optimistic, expecting a gradual recovery in August. Additionally, new wallet addresses on Polygon have decreased by 78%, adding further pressure to MATIC prices.
Avalanche Experiences a Weekly Drop
Avalanche (AVAX) has seen a 0.28% decline in the last 24 hours and a 5% drop in the last week. At present, AVAX is trading at $13.20, with trading volumes falling by 25.20% from the previous day.
Some investors believe that AVAX’s weaker utility compared to other projects is the reason behind the current downtrend. They anticipate further erosion, possibly below $12, as investor interest wanes. However, optimism remains following the launch of the Avalanche Vista program, which could reignite interest and potentially boost the coin’s value back to $15.
Experts’ Views on Polygon, Avalanche, and Borroe
Some experts express skepticism about the Polygon and Avalanche ecosystems due to decreasing investor interest. Nevertheless, they hold a positive outlook on Borroe and anticipate ROE to outperform MATIC and AVAX in the market.
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