The post Avalanche (AVAX) Drops, Ethereum (ETH) Suffers, but VC Spectra (SPCT) Stands Strong appeared first on Coinpedia Fintech News
Avalanche (AVAX) experiences a drop, while Ethereum (ETH) grapples with its own challenges. Amidst this volatility, VC Spectra (SPCT) emerges as a beacon of resilience and strength. As Avalanche (AVAX) and Ethereum (ETH) navigate their respective hurdles, VC Spectra’s (SPCT) steadfastness in the face of market dynamics underscores its position as a notable contender.
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Avalanche (AVAX) Price Drops Parallel To Its TVL
The recent decline in the total value locked on the Avalanche (AVAX) blockchain has closely mirrored the downward trajectory of Avalanche’s (AVAX) price. Notably, a reduction of nearly 20% in the total value locked coincided with the AVAX token’s negative trend.
The release of 3% of additional Avalanche (AVAX) tokens into the market on July 14 aligns with observations from the aftermath of the previous two tokens unlocks on Avalanche (AVAX), followed by declines in the AVAX token price.
After this token unlock event, Avalanche (AVAX) encountered a 32% drop in value in August. The price dropped from its peak at $15.87 on July 14 to a subsequent low of $10.82 on August 19. While there was a minor rebound to $12.78 on August 8, the effects of the price crash have cast a shadow, maintaining Avalanche (AVAX) within the realms of bearish market sentiment.
Currently, no clear indicators are signalling an imminent recovery or a potential reversal of this downtrend for Avalanche (AVAX). This suggests that the current downward trajectory is likely to persist.
Ethereum (ETH) Follows A Significant Decline: What’s Next?
A recent report has revealed that former US President Donald Trump holds over $2.8 million worth of Ethereum (ETH) in a wallet. This reveals a significant disagreement from the previously stated crypto holdings of $250,000 to $500,000 in April. However, this revelation seems to have hurt Ethereum’s (ETH) value.
While some of Trump’s supporters argue that the decline in Ethereum’s (ETH) value is linked to the March Shanghai upgrade causing a reduction in Ethereum (ETH) staking rather than an increase, the timing of the drop doesn’t align with this explanation.
Since the report’s publication on August 14, Ethereum (ETH) has experienced a drop in price from $1,859 to $1,679 on August 19, further boosted by the decline of Bitcoin (BTC).
Market analysts suggest this price decline could be attributed to the upcoming US elections in the wake of anti-crypto sentiments by the US. If Ethereum’s (ETH) price continues to decline, it could go below its current support levels at $1,800 and reach new lows in August.
VC Spectra (SPCT): The Only Smart Investment Blockchain Of 2023
VC Spectra (SPCT) emerges as a new blockchain asset management solution poised to revolutionize conventional investment and financial paradigms. Its distinctive strength lies in its inclusive and secure approach to investments.
Venture capitalists and risk management teams meticulously analyze all investment portfolios, ensuring that every VC Spectra (SPCT) investment finds its place in projects that exhibit safety and scalability.
Moreover, VC Spectra (SPCT) involves investors in blockchain proceedings through its decentralized investment management system.
An exceptional feature of VC Spectra (SPCT) is exclusive voting rights for its investors, granting them authority over their participation within the blockchain ecosystem.
VC Spectra (SPCT) has garnered substantial attention within the market landscape, amassing $2.4 million during its private presale.
Impressively, the public presale demonstrated noteworthy performance by delivering a remarkable 212.5% return on investment to Stage 1 participants, as the token price surged from $0.008 to $0.025 during Stage 2. This rapid appreciation in VC Spectra (SPCT) value happened ahead of schedule.
Anticipation now centres on an additional 220% upswing as the token price aims to hit the target of $0.08 upon its launch on prominent exchanges.
Learn more about VC Spectra (SPCT) and its presale:
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