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As Ripple's legal battle with the US SEC continues, Cardano (ADA) has made significant progress in the field of smart contracts as of early 2024. However, a new defi project, Borroe Finance (ROE), has caught the attention of investors.
Legal battle between Ripple and the US SEC
The SEC has requested a thorough examination of the contracts to determine whether Ripple's planned sales of XRP were in line with the court's summary order.
In response, Ripple filed a motion to file a subsequent response related to the SEC's motion to compel on January 24, 2024.
Meanwhile, XRP is under pressure and fails to break above $0.55.
On January 26, XRP was trading at $0.512, down 6.85% from last week.
XRP needs to close above $0.55 for the uptrend to be valid. Losses below $0.45 could trigger a sell-off.
Cardano smart contracts soar in 2024
The number of smart contracts deployed on Cardano skyrocketed in early 2024.
Recent information reveals that the number of V1 and V2 Plutus smart contracts was 14,379 on January 1. As of January 24, it was 24,050, an increase of 67%.
ADA reached a high of $0.66. On January 26, it reached $0.47, a decrease of 20.33%.
The red bars on the ADA MACD indicator histogram indicate volatility and the RSI indicates a sell-off.
Experts predict that it may fall to $0.43 if Cardano continues to struggle.
Finance Borroé
Finance Borroé is a web3 funding system on Polygon that focuses on liquidity pools and dapps, using innovative technologies such as ai, nft, and blockchain.
Through its nft marketplace, web3 companies and content creators can generate instant cash flow.
It has raised over $2.7 million in ongoing pre-sales. Currently, ROE is available for $0.0190.
Experts predict that the ROE will recover once it is listed on DEXs. The token will be trading for $0.040.
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