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While Ripple continues its legal battle with the US SEC, Cardano (ADA) has made significant progress in the smart contract space in early 2024. However, a new DeFi project, Borroe Finance (ROE), has caught the attention of investors.
Ripple’s legal battle with the US SEC
The SEC has requested a thorough investigation into the contract to determine if Ripple’s plan to sell XRP is consistent with the court’s summary order.
In response, Ripple submitted a Sur-Reply application related to the SEC’s mandatory application on January 24, 2024.
Meanwhile, XRP is under pressure, unable to break above $0.55.
As of January 26, XRP is trading at $0.512, down 6.85% over the past week.
For an upward trend to be valid, XRP must close above $0.55. A loss below $0.45 could trigger a sell.
Cardano smart contracts will skyrocket in 2024
The number of smart contracts deployed on Cardano skyrocketed in early 2024.
According to recent insights, the number of V1 and V2 Plutus smart contracts was 14,379 on January 1. As of January 24, there were 24,050 cases, a 67% increase.
ADA hit a high of $0.66. On January 26, it fell 20.33% to $0.47.
Red bars on the ADA MACD indicator histogram indicate volatility, while RSI indicates sell signals.
Experts predict that if Cardano continues to struggle, its price could fall to $0.43.
Boroe Finance
Borroe Finance is Polygon’s web3 financial system focused on liquidity pools and Dapps using innovative technologies such as AI, NFT, and blockchain.
NFT marketplaces allow web3 businesses and content creators to generate immediate cash flow.
It has raised more than $2.7 million in presales, which are currently underway. ROE is currently available at $0.0190.
Experts predict that ROE will rebound once it is launched on DEX. The token price is $0.040.
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