Arbitrum (ARB) and Avalanche (AVAX) have recently both been experiencing a decline in popularity as SPCT continues to capture the attention of investors. This emerging coin has been making waves in the crypto industry with its compelling tokenomics and real-world utility.
Let’s explore why Arbitrum and Avalanche (AVAX) are losing their spotlight to the rapidly growing VC Spectra (SPCT) and how savvy investors are capitalizing on VC Spectra’s (SPCT) rapid growth.
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Arbitrum (ARB) recently concluded a massive airdrop, hoping it would stir up interest in its declining platform. The initiative was met with a somewhat lulled reception. Furthermore, the airdrop has failed to reignite interest in Arbitrum as ARB’s price continues to plummet.
After the airdrop, the network saw a decline in new user adoption as the number of new wallets making initial transactions decreased. Transactions and daily users remained high, however, and there was an increase in gas spending and the value of transactions.
The drop in new user adoption worries the ecosystem’s future growth as the airdrop was highly anticipated, yet its impact on attracting new users seems to have waned.
The increased supply further accelerated Arbitrum’s (ARB) sharp decline of 35% from its 2023 peak on April 18, falling from $1.77 to currently trading at $1.15, solidifying ARB’s bearish trend. On-chain metrics suggest that the sell-off by large investors, who hold over 3 billion ARB tokens, has contributed to Arbitrum’s downward spiral.
Avalanche (AVAX) has been trending lower over the past week, with its price falling from $13.44 to $12.72, representing a 5.3% decline in just seven days. This is mainly owing to the prevailing bearish sentiment clouding Avalanche (AVAX).
The Avalanche (AVAX) blockchain foundation, on July 25, 2023, announced the launch of Avalanche Vista, a program that aims to purchase $50 million worth of tokenized assets on the network. This move is part of the foundation’s effort to bring more digital versions of traditional investment products, such as equities, credit, real estate, and commodities, to the Avalanche (AVAX) blockchain.
However, Avalanche (AVAX) failed to react positively to this news, with its price at the time of writing of $12.72 virtually unchanged from the previous day’s close.
Despite the prevailing bearish sentiment in the crypto markets, VC Spectra (SPCT) stands out with strong growth and a bullish outlook. The decentralized hedge fund strategically invests in the blockchain and technology industry to generate highly lucrative returns for investors.
Investors on the platform receive quarterly dividends and buybacks as their investment returns. Additionally, VC Spectra provides exclusive access to the best pre-ICOs and early-stage blockchain ventures for its investors.
VC Spectra (SPCT) has demonstrated tremendous growth during its presale, owing to its strong real-world utility. The decentralized hedge fund raised $2.4 million in its private/seed sale and completed Stage 1 of its public presale, selling 125 million SPCT tokens.
At present, VC Spectra (SPCT) is in Stage 2 of its public presale, with each SPCT token priced at $0.011, indicating a significant 37.5% increase from its initial price of $0.008. Experts project that VC Spectra’s (SPCT) presale price will surge by a staggering 627% from its current price.
As VC Spectra (SPCT) proceeds to Stage 3, it is anticipated to experience another substantial 127.27% increase, setting the cost of each SPCT token at $0.025. This upward trend is expected to continue until the end of the public presale, reaching a final price of $0.08 for each SPCT token.
Learn more about the VC Spectra presale here:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Max Clark is a content writer specialising in the cryptocurrency space. He is very enthusiastic about altcoins, NFTs, and the Metaverse. Max is convinced that the network is capable of replacing the existing global monetary system and granting financial independence to billions of people all over the world. Max loves to go on adventures, play sports, and read books when he has free time outside of work. He has also worked in the financial industry before, so he knows how the world’s banking system works and how to deal with clients in the tech and finance industries.
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Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.
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