Solana’s Resilience Despite Falling Daily Active Addresses
Solana ($SOL) recently experienced a decline in its daily active addresses, attributing it to a reduction in bot activity. Nevertheless, the strong recovery of $SOL has kept its holders unfazed.
On September 1, $SOL was trading at $19.33, but as bearish pressures intensified, it dropped by 8.2% to $17.74 by September 11. Remarkably, by September 20, $SOL closed at $20.30, marking a recovery of 14.4%.
During this recovery, Solana’s daily active addresses dwindled from around 300,000 in mid-August to approximately 200,000 by September 17. Solana’s head of Strategy attributed this decline to a reduction in bot activity, emphasizing that recent upgrades have made it less economically viable for bots to operate on the network. Analysts now speculate that $SOL could rise by 5.1% to $21.35 if investor sentiment continues to improve.
Borroe.Finance ($ROE) Records Remarkable Growth in 24 Hours
One standout project currently on presale is Borroe.Finance ($ROE), a Web 3-focused fundraising marketplace offering easy access to low-cost loans and short-term capital.
Borroe.Finance functions as a peer-to-peer borrowing marketplace, where users auction off their future earnings, including royalties, management fees, and commissions, before securing loans. The platform’s technology enables companies to receive funds instantly, and the loan application and approval process can be as short as 1 hour. Moreover, offers of future earnings come at attractive discounts, making it an appealing low-cost investment option.
Borroe.Finance’s blockchain ICO has been highly successful, with 58% of its Stage 2 tokens sold within 24 hours, currently priced at $0.0150. It is projected to grow by 33.3% to reach $0.0200 in Stage 3. With such promising market projections, Borroe.Finance is poised to become one of the top DeFi projects in September and beyond.
Ethereum ($ETH) Staking Activity Surges on Binance
Ethereum’s popularity as a staking network has driven the Total Value Locked (TVL) of Staked Ether on Binance to an impressive $731 million. Since Binance introduced liquid Ethereum staking in April, the TVL had fluctuated between $120 million and $170 million.
However, September saw a substantial increase in deposits for Ethereum ($ETH) staking, nearly quadrupling its previous levels.
Despite experiencing market volatility that saw $ETH trading at $1,628 on September 1 and dropping by 0.3% to $1,622 by September 20, Ethereum’s staking activity remains robust. On September 13, Ethereum ($ETH) recorded its largest single-day staking deposit since July. Analysts believe that this high staking activity will significantly contribute to Ethereum’s ($ETH) adoption once the bearish market conditions give way. With the rising DeFi activity within the Ethereum ecosystem, $ETH could potentially rise by 10.2% to $1,788.
