Ethereum (ETH) is losing traction after registering significant gains in the month leading up to August 4. XRP seems to suffer from a similar decline. VC Spectra (SPCT) takes the forefront as both coins recede into a downtrend.

VC Spectra (SPCT) has gained massive traction sparking investors’ interest by raising $2.4 million in its private sale. But before diving deeper into VC Spectra’s (SPCT winning trajectory, let’s look closely at Ethereum (ETH) and XRP.

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Ethereum (ETH) Plummets in Value Amidst Recent Allegations

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On August 3, 2023, a Twitter user leaked classified documents that suggest that former SEC director Bill Hinman exhibited biases by accommodating Ethereum’s (ETH) founders. The user alleges that Hinman ensured that Ethereum (ETH) would not be classified as a security.

This prejudice by the former SEC director sent waves of resentment throughout the XRP community. Consequently, Ethereum’s (ETH) price took a 2.1% plunge from $1872 to $1833 in the week leading up to August 4. This price action followed a similar 2.3% dip in the market cap from $224.4 billion to $219.3 billion during the same period.

The negative sentiment surrounding Ethereum (ETH) can be attributed to market volatility and the recent SEC revelations. Although there is a probability for Ethereum’s (ETH) bullish movement in the future, the MACD and the MFI hint at a short-term bearish trend.

Therefore, investors may want to avoid Ethereum (ETH) till it breaks above the 50-day EMA at $1,866. Let’s see if XRP exhibits a similar scenario.

XRP Experiences a Steep Decline in Value

On August 3, Empower Oversight released a new batch of documents that reveal a deeper involvement of Ethereum’s (ETH) co-founder in toppling XRP. This has sent waves of anger and resentment throughout the XRP community. This news should help XRP long-term in its legal battle by acting as evidence against the SEC.

Despite the positive news regarding the SEC’s prejudice against XRP, the coin suffered a sharp price decline of 7% from $0.71 to $0.66 in the week leading up to August 4. This plunge was followed by a 7.2% drop in market cap from $37.4 billion to $34.7 billion in the same period. The recent plunge in XRP’s value can be attributed to ongoing uncertainty. The bearish movement is also due to the SEC’s appeal of XRP’s partial win in July.

Although XRP showed considerable bullish movement following its partial win in July, analysts predict that XRP’s price can drop below $0.5. Therefore, traders may want to avoid XRP till it clears itself of legal controversies.

Investors may opt for VC Spectra (SPCT) instead, as it shows exceptional growth.

VC Spectra (SPCT) Stuns by Showing Remarkable Growth

VC Spectra (SPCT) is a decentralized hedge fund focusing on early-stage investments and ICOs. It employs intuitive trading strategies and cutting-edge technologies like artificial intelligence to identify lucrative investment prospects. This helps VC Spectra’s (SPCT) investors benefit from maximum returns while bearing minimum risks.

Users who invest in VC Spectra (SPCT) can benefit from its price appreciation and dividends. The platform has allocated 40% of its investment gains for monthly and quarterly dividends to incentivize users.

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Investors saw an exceptional 37.5% surge in value as VC Spectra (SPCT) transitioned from Stage 1 to Stage 2 of its presale. As VC Spectra (SPCT) proceeds to Stage 3 of its presale, users can anticipate a 127% value appreciation from $0.011 to $ 0.025. This will be a whopping 212.5% gain from the initial price of $0.008.

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None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website.