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- Industry
- Geography
Recent developments in the Solana ecosystem have pushed Solana to a new milestone of more than $300 billion in stablecoin transactions. At the same time, Monero (XMR) maintains its position as a firm believer in user anonymity while Borroe Finance ($ROE) paves the way to novel Web3 funding.
Solana's journey into the Stablecoin activity witnessed an upward trend from October 2023, rising to a massive growth rate of more than 650% since then.
While Ethereum continues to lead with a transfer volume of $317 billion and market share above 33%, Solana is rapidly catching up in its pursuit narrowing the gap as it now holds almost over 32%.
The recent announcement by Paxos of the launching of their stablecoin, USDP on Solana Blockchain has helped drive its rise. The DeFi sector on Solana has also seen increased activity, raising the total value locked to its highest level since September 2022 to $1.36 billion.
Even though Solana's SOL price dropped slightly to $93.00 which was a dip of about 25% from its peak in December, the Blockchain performed remarkably well on Stablecoin transfers, indicating increased dominance.
Recently, Solana's aggregator, Jupiter became a key force which made more than $500 million in trades within 24 hours. This increase in trading volumes made Jupiter the largest Defi trading platform, bigger than Uniswap v3.
The most popular trading pair on Jupiter was the USD Coin (USDC)/Solana (SOL), which had a volume of $167 million.
The Wen (WEN) memecoin, which was launched by Jupiter blockchain developers as well, recorded a trading volume of around $150 million. The upcoming release of Jupiter's designated JUP tokens is also set to increase Solana activity.
Monero is a well-known player when it comes to privacy-centric cryptocurrencies. Thanks to the level of emphasis placed on anonymity through technologies such as ring signatures, stealth addresses and RingCT. Monero hides details about senders, receivers and amounts of transactions for every user by default.
Despite being privacy-oriented, Monero faces challenges as it is banned by some governments, such as in Dubai. Some of the best crypto exchanges including Coinbase delisted Monero in some jurisdictions due to concerns about potential misuse by bad actors.
However, Monero (XMR) has persisted since its inception, held on to the value proposition it possessed and has grown its crypto market cap to over $2.9 billion.
Monero (XMR) is currently trading at $163, indicating an increase of 4.5% in the last 7 days. XMR price is facing resistance at $180, of which a breakthrough could propel price beyond $220.
Borroe Finance ($ROE) is gaining the attention of whales as it launches a revolutionary strategy for Web3 funding. In a landscape where traditional financial barriers limit Web3 businesses, Borroe Finance introduces a new solution that incorporates blockchain technology, AI-powered risk assessment and smart contracts.
The AI-powered NFT marketplace of the project allows businesses to mint their future revenue streams as an NFT. This allows upfront cash for businesses with investors' position on project success.
Among the traditional challenges that Borroe Finance addresses are time-consuming approvals and paperwork. It does so by ensuring transparency within transactions set by blockchain technology, as well as risk assessment with the AI vetting process.
Borroe Finance's presale is currently in Stage 4 and has raised over $2.7 million. Unlike hype-driven initial coin offerings, the project highlights security with publicly traceable recording on the blockchain and extensive auditing by BlockAudit, a leading smart contract audit company.
Led by Michael Price, a former XE.com VP and Maxim Prishchepo, a blockchain veteran, Borroe Finance is a project with visible leaders who are experienced in the field of cryptocurrency.
Learn more about Borroe Finance ($ROE) here:
