XRP and Shiba Inu have seen a surge in popularity in India, emerging as two of the top five most traded cryptocurrencies in the country. This comes as exciting news for holders of these tokens, who have seen their value and prominence grow in recent months.
One of the main contributors to XRP’s increased popularity in India is its victory over the SEC. This legal battle had caused some uncertainty around the token, but with the positive outcome, investors have regained confidence. Shiba Inu, on the other hand, has been making headlines due to the impressive progress of its newest network, Shibarium.
WazirX, a leading cryptocurrency exchange in India, confirmed that both Shiba Inu and XRP were among its top traded tokens in August. The full list includes USDT, BTC, SHIB, XRP, and ETH, indicating the growing popularity of these tokens in the country.
Despite their rising popularity, both XRP and Shiba Inu experienced a decline in August due to bearish pressures in the market. Economic reports from Asia and the SEC’s announcement of a delay in approving Spot Bitcoin ETFs further worsened the situation.
XRP, which was trading at $0.63 on August 14, dropped by 20.6% to $0.50 on August 17 following the market downturn. Shiba Inu, on the other hand, traded at $0.000010001 on August 14 but experienced a 19.3% drop to $0.000008064 on August 18. Many experts are cautious about predicting a quick recovery for these tokens.
Analysts warn that if the current market downturn continues, both SHIB and XRP could fall further. Negative sentiments could drive Shiba Inu down to $0.000007002, while XRP may experience a similar drop.
Amidst the rise of XRP and Shiba Inu, there is growing interest in whether Borroe.Finance’s recent 25% increase is enough to challenge these top altcoins. Borroe.Finance is a community marketplace that utilizes AI and blockchain technology to provide a unique revenue financing approach. It aims to ease funding avenues for Web 3.0 companies and offers automated AI vetting processes to assess creditworthiness.
Borroe.Finance also ensures instant funding on loan requests and repayments, providing a secure avenue for investors to support promising businesses. The platform’s security audit certificate, public smart contract addresses, and focus on investor security further enhance its appeal.
With its recent successful ICO launch, Borroe.Finance is gaining traction, attracting interest from many companies looking to scale their services in the web 3.0 environment. If it continues on its projected growth path, $ROE has the potential to become one of the top DeFi projects in 2023.
In summary, the rising popularity of XRP and Shiba Inu in India has caught the attention of investors. However, the recent market downturn and negative sentiments cast some doubt on their immediate future. In the midst of this, Borroe.Finance emerges as a promising contender, offering innovative revenue financing solutions and attracting significant interest in the crypto community.