Polygon (MATIC) surged in price following Circle’s launch of programmable wallets on its blockchain on August 8. Meanwhile, Polkadot displayed a contrasting trend by exhibiting bearish movement in the week leading up to August 9.
On a different note, VC Spectra (SPCT) captures investors’ attention by raising $2.4 million in its private sale. So what is VC Spectra (SPCT) all about? Let’s take a closer look.
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VC Spectra (SPCT) Soars to New Heights
VC Spectra (SPCT) is a leading firm driving innovation in fintech and blockchain through strategic investments. The platform aims to address investors’ current challenges by providing a secure and transparent investment gateway.
VC Spectra’s (SPCT) team comprises seasoned venture capitalists and technologists who ensure that the users yield maximum rewards while bearing minimum risks.
VC Spectra’s SPCT is a BRC-20 token built on the Bitcoin blockchain offering various perks such as the deflationary burn mechanism. This mechanism preserves the token’s exclusivity and value by reducing its circulation over time.
Regarding returns, VC Spectra (SPCT) allows users voting rights where they can have an influential say in the platform’s further developments and investments. Investors who placed their trust in VC Spectra (SPCT) saw a remarkable 37.5% surge from $0.008 to $0.011 as it transitioned from Stage 1 to Stage 2 of its presale.
As Stage 3 draws near, users anticipate another substantial surge of 127% appreciation from $0.011 to $0.025. This will be an impressive gain of 212.5% from the initial value of $0.008. Now let’s see if Polygon (MATIC) poses any competition to VC Spectra (SPCT).
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Polygon (MATIC) Soars Following The Launch of Programmable Wallets
On August 8, 2023, Circle announced the launch of its programmable wallets on Ethereum (ETH), Avalanche (AVAX), and Polygon (MATIC). This web3 wallet platform will enable developers to offer digital asset payments to customers.
Following this positive news, Polygon (MATIC) surged 2.9% from $0.67 to $0.69 on August 9. This surge accompanied a similar 3.2% increase in market cap from $6.2 billion to $6.4 billion during the same time. This surge can be attributed to Circle’s launch of programmable wallets on Polygon’s (MATIC) blockchain. Analysts are optimistic about Polygon’s bullish movement following the launch of these wallets.
However, as of August 9, Polygon’s (MATIC) NPL data suggests that the coin has hit the price bottom. This suggests an incoming bearish rally. Therefore, investors may want to avoid Polygon (MATIC) until an uptrend is confirmed. Let’s analyze if Polkadot (DOT) exhibits a similar scenario.
Polkadot (DOT) Struggles Amidst Market Volatility
On August 3, 2023, the Haskey and OSL trading platforms revealed they will open retail crypto trading in Hong Kong. According to the trading platform, Polkadot (DOT) and 12 other cryptocurrencies will be made available for retail trading. This news should help Polkadot (DOT) in the long run by drawing investors’ interest and confidence.
Despite the positive news, Polkadot’s (DOT) price took a hit, falling 1.6% from $5.13 to $5.05 in the week leading to August 9. This descending price action followed a similar 3.2% dip in market cap from $6.3 billion to $6.1 billion.
Although Polkadot (DOT) has struggled, analysts are optimistic about its future. On August 8, Bitcoin (BTC) surpassed the $30,000 benchmark causing a ripple effect across other cryptocurrencies. This indicates the potential for a rebound for Polkadot (DOT).
However, Polkadot’s (DOT) MACD and RSI values of August 9 point towards continued bearish movement. Therefore investors may want to avoid Polkadot (DOT) till its downtrend ceases.
Find out more about the VC Spectra (SPCT) presale here:
Buy Presale: https://invest.vcspectra.io/login
Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund