Since the start of September, the crypto market has witnessed various hacks. The latest victim is $XRP, which has lost nearly $7 million worth of tokens. Elsewhere, Litecoin ($LTC) was hoping for a quick recovery, but recent events have changed such expectations.
Disappointed investors now look to Borroe.Finance ($ROE) to help recoup their losses. Borroe.Finance holds the potential to revolutionize the revenue financing industry. Yet, can this potential make it one of the top altcoins? Let’s find out.
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CoinEx Hack Leads to Theft of Millions of $XRP
On September 13, 2023, CoinEx was hacked by a suspected North Korean group. The hackers stole 12.62 million $XRP tokens valued at $6.06 million. The security breach is the latest in a series of hacks that have occurred since the start of September.
Furthermore, the hack follows the market-wide slump that affected several top DeFi projects, including $XRP. On August 29, $XRP was trading at $0.54. It then dropped by 9.2% to $0.49 on September 1. Since then, $XRP’s price has remained largely stable.
The $XRP theft comes as Ripple Labs is facing a legal battle with the Securities and Exchange Commission (SEC). The lawsuit is over the selling of unregistered $XRP securities. Some analysts say $XRP’s price could drop if the SEC wins Ripple Labs in court. A victory for the SEC could push $XRP down to $0.39.
Litecoin’s ($LTC) Bearish Woes Worsen
The slump of September 2023 has seriously affected Litecoin’s ($LTC) market performance. The market fell on September 1 after the SEC’s delayed response to Spot Bitcoin ETF applications. $LTC was trading at $67.66 on August 30. It then fell by 6.8% to $63.01 on September 1 following the market-wide slump.
Litecoin’s ($LTC) recent market struggles come months after being listed on EDX markets. Many investors expected demand for Litecoin’s ($LTC) network to rise following its listing. $LTC’s value had also gone up after the listing.
However, $LTC soon dropped following the halving of Litecoin block rewards on August 5. There are speculations that Litecoin’s ($LTC) mining activity reduced following the halving of block rewards.
The current market slump doesn’t seem like slowing down. Some investors fear that the continued increase in negative investor sentiment could further reduce demand for Litecoin’s ($LTC) network. Litecoin’s recent performance means it’s not a good crypto to buy.
Borroe.Finance: Challenging the Traditional Invoice Finance Industry
The traditional invoicing industry is worth over $1 trillion globally. Yet, it has been unable to meet the revenue financing needs of the Web 3.0 industry. Due to such inefficiencies, Borroe.Finance ($ROE) was launched. The platform is dedicated to helping Web 3.0 companies generate short-term capital by selling off their future earnings.
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These companies can easily sell their revenue by turning them into collateralized NFTs. Companies then auction these NFTs on Borroe.Finance’s marketplace. These collateralized NFTs also contain the fundraising contract that both parties will sign.
Furthermore, Borroe.Finance ($ROE) allows companies to customize their NFTs to include special discounts to boost their loan approval chances.
Investors who use Borroe.Finance ($ROE) get opportunities to profit from low-risk investments with high returns. Furthermore, they enjoy special discounts on the revenue financing offers they purchase. Borroe.Finance also rewards both buyers and sellers for their marketplace contributions.
For instance, users who vote on proposals are rewarded for exercising their governance rights.
Borroe.Finance’s popularity is shocking to many investors who discover that the project is still in the early phases of its blockchain ICO. Its popularity is set to grow after $ROE rose by 25% from its initial price. $ROE’s current price is $0.0125 and it’s in Stage 1 of its presale.
When $ROE’s presale is over, it will reach $0.0400, growing by 220% from its current price.
Learn more about Borroe.Finance ($ROE) here:
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