Australia's Leading Bank Partners with Chainlink: Can Arbitrum and Borroe.Finance Compete with $LINK?
Birmingham
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September 28, 2023 12:33 PM Eastern Daylight Time
Chainlink's institutional adoption is about to rise thanks to its latest partnership with ANZ banking group. Elsewhere, Arbitrum ($ARB) faces stiff competition from competitors like Base Network, causing its TVL to drop.
Yet, Borroe.Finance ($ROE) seems to be in the clouds, especially after the recent sell-off in the second presale stage. Will $ROE eventually become a top ICO? Let's find out.
Arbitrum's ($ARB) Falling TVL Shows Competition with Other Layer 2 Networks
Arbitrum's total value locked (TVL) has fallen sharply since early August as subsequent market crashes have reduced its network usage. On August 10, Arbitrum's ($ARB) TVL stood at $2.02 billion before falling to $1.17 billion on September 20.
The fall follows a major drop in Arbitrum's positive investor sentiment after the market crashes in August and early September. $ARB had dropped to $0.98 on August 17 after the market-wide slump. The crash of September 1 worsened the bear market, causing $ARB to fall by 10.2% to $0.88.
Arbitrum's ($ARB) falling TVL could also be down to competition from other layer-2 networks. Since August, Arbitrum has faced competition from Coinbase's Base Network. On September 14, Arbitrum's ($ARB) daily transaction count reached 878,000. For comparison, Base Network's daily transactions reached $1.88 million on the same day.
Analysts say $ARB will struggle to recover if Arbitrum faces more competition from its rivals. These analysts conclude that $ARB could drop by 10.2% to $0.79 if the Base Network maintains pressure on Arbitrum.
Borroe.Finance: Community Marketplace Records 58% Rise Within 24 Hours
Blockchain technology is all about leveraging the power of the community to create technology-based solutions to real-world problems. This is exactly what Borroe.Finance ($ROE) has done. Built on Polygon, Borroe.Finance creates new avenues for instant funding via leveraging peer-to-peer lending.
Borroe.Finance has created an ecosystem for Web 3 businesses to raise instant cash at low costs and high efficiency. The platform prioritizes speedy fundraising approval. Funding requests on Borroe.Finance are typically approved within 1 hour or less. Furthermore, Borroe.Finance looks to fund 80 - 90% of fundraising requests.
To smoothen community lending, Borroe.Finance platform uses fractionalized NFTs to represent collateral. These fractionalized NFTs are then sold off on a marketplace to investors from all over the Web 3 world.
Via this process, companies can raise funds by selling their invoices to communities that support them. Various perks come with being a member of Borroe.Finance ($ROE). Users enjoy low fees, high discounts, and rewards for being active members.
Out of all new ICOs, Borroe.Finance combines a strong real-world utility with its incredible levels of market hype. Within 24 hours of entering Stage 2 of its presale, $ROE has sold 58% of its available tokens.
By Stage 3, $ROE would rise by 33.3% from its current price of $0.0150 to $0.0200. So, join while there’s still some supply left at this price.
Australian "ANZ" Bank Explores Chainlink's CCIP
On September 15, 2023, the Australian and New Zealand (ANZ) Banking Group announced a partnership with Chainlink ($LINK). The partnership would allow ANZ to use Chainlink's Cross-Chain Interoperability Protocol to test the purchase of tokenized assets.
The latest Chainlink partnership brought slight positive momentum to $LINK's price. $LINK was trading at $5.93 on September 1 after the market slump.
Following the announcement of Chainlink's partnership with ANZ, $LINK rose by 7.2% to $6.36 on September 15. As excitement around the partnership grew, $LINK grew by another 8.6% to $6.91 on September 20.
Chainlink ($LINK) stands out among other top DeFi projects because of its drive for institutional adoption. Since the start of the year, Chainlink ($LINK) has sought out partnerships with banks and other centralized finance institutions. As a result, analysts say $LINK could rise to $7.99 as Chainlink's partnerships grow.
Learn more about Borroe.Finance ($ROE) here:
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