The current negative trends in Ethereum (ETH) and XRP have caused concern in the crypto market about their future. While Ethereum (ETH) shows a possibility of a quick rebound, XRP’s lingering regulatory issues have caused further doubt in investors’ minds. As a result, investors are eyeing other promising prospects like VC Spectra (SPCT).
Ethereum (ETH) Prepares for Upgrade Amidst Bearish Momentum
Ethereum (ETH) is preparing for its blockchain’s upcoming Cancun-Deneb upgrade, also known as the Dencun upgrade. Though no date has been set yet, the event has been announced to occur by the end of 2023. The upgrade will improve Ethereum’s (ETH) network scalability, security, and data storage while lowering transaction costs.
Furthermore, the highly anticipated EIP-4844 is also part of Ethereum’s (ETH) Dencun upgrade. Together, these events will boost Ethereum’s (ETH) network activity and cause a rally in Ethereum’s (ETH) price, which is currently in a downtrend.
Ethereum (ETH) has been on a downtrend since the month began, continuing last month’s bearish momentum. Ethereum’s (ETH) value has plummeted by 0.90% over the past five days, dropping from $1,850.30 on August 1, 2023, to $ 1,833.68 on August 6. Due to intense selling pressure, marker analysts predict that Ethereum (ETH) could drop to $1,786 by August 8, 2023.
Whales Dump XRP Due to Possible Appeal
XRP has been on a significant downtrend over the past weeks. XRP had a notable price rally earlier in July when its partial victory in its case against the SEC was announced. However, since news of a possible appeal from the SEC started circulating, XRP has experienced intense selling pressure that has caused its value to plummet.
To further strengthen the news of a possible appeal, U.S. District Judge Jed Rakoff has denied Terraform Labs’ motion to dismiss the SEC’s case against them, citing non-jurisdiction as they used the XRP ruling as a precedent. Due to these reports, XRP’s whales have unloaded over 100 million XRP tokens, putting significant selling pressure on the XRP price. This has resulted in an 11.27% decline in XRP’s value as it dropped from $0.71 on July 31, 2023, to $0.63 at the time of writing.
If the SEC’s appeal pushes through, it will hurt XRP, causing further decline. XRP could hit a prolonged bearish trend that would wipe out all its gains from last month’s price rally.
VC Spectra (SPCT) Delivers a Profitable Investment Opportunity to Investors
VC Spectra (SPCT) has accumulated much interest from the crypto community since news of its successful presale reached the market. VC Spectra (SPCT) is a revolutionary asset management platform that makes strategic investments in the blockchain and technology industries. VC Spectra (SPCT) increases returns while minimizing risks by utilizing cutting-edge AI and sophisticated trading tactics, offering investors outstanding possibilities to gain.
VC Spectra’s (SPCT) ongoing public presale has been a huge success, attracting investors from all around the world. As the presale moves in stages, VC Spectra (SPCT) has predicted to make strategic price increases earning investors returns on their investments.
VC Spectra (SPCT) increased 37.5% from Stage 1 to Stage 2, ranging from $0.008 to its current price of $0.011. Its goal is to reach $0.08 per token by the end of the presale, representing a 627% increase from its current price.
As the project continues to gain traction and delivers on its objective, VC Spectra (SPCT) remains at the forefront of profitable investment prospects for 2023.
To learn more about VC Spectra (SPCT) and its presale, visit:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
