Chainlink (LINK) is one of the leading blockchains in the crypto industry, making LINK one of the best crypto investments in most market seasons. However, Chainlink recently unlocked a huge block of tokens, and investors believe LINK's price will crash in the coming weeks. As a result, these investors hedged their bets by backing a new crypto token called Borroe Finance ($ROE). Keep reading to see what experts think about these tokens.
The finance world is brutal and takes a certain level of access to survive. As a new DeFi company, getting funded by traditional financial institutions and investment groups on Wall Street is arduous because these organizations are wary of the extreme volatility in the crypto industry. As a result, intelligent blockchain developers built Borroe Finance to enable web3-based businesses to access much-needed credit at the right time.
Borroe Finance is an AI-powered fundraising marketplace where web3 businesses can mint their future earnings into trending NFTs and sell them to their audience at discounted prices. Also, Borroe Finance incorporates AI-risk assessment, blockchain technology, and efficient payment solutions into its protocol. According to crypto experts, these features will help secure the fundraising process and guarantee timely returns for lenders.
Currently, $ROE is in its fourth presale stage, and the token is selling for $0.019. After all presale stages end, $ROE will hit the mainstream crypto market and sell for $0.040. According to crypto analysts, this bullish $ROE price movement will result in a massive 110.5% ROI for early Borroe Finance investors. Furthermore, experts believe the crypto market will accept $ROE quickly, meaning the token will likely trade for $0.190 by December.
On February 3, Spotonchain (one of the world's best cryptocurrency analytics platforms) revealed that the Chainlink team unlocked 19 million LINK tokens (worth approximately $341 million) from three non-circulating supply contracts. According to Spotonchain, 15.95 million Chainlink tokens (worth around $287 million) were deposited to Binance, while 3.05 million tokens (approximately $54.3 million) were deposited in a multi-sig wallet.
Furthermore, crypto news from Spotonchain also revealed that Chainlink had moved 88.95 million LINK tokens (approximately $805 million) to Binance since August 2022, and most of these tokens were later offloaded. According to crypto experts, Chainlink's recent token unlock may be motivated by fear of missing out. LINK has been bullish for most of January, and the token recorded a double-digit surge in the week preceding the token unlock.
For context, LINK traded at $14.30 on January 27. A week later, LINK gained a whopping 25.71% and traded at $18.10 before the token unlock on February 3. However, savvy investors have predicted that this new influx of Chainlink tokens in the crypto market will reverse LINK's bullish trajectory in Q1 2024. As a result, analysts expect LINK to record a price dip like most top altcoins and trade for $16.20 by the end of February.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.