Bears remain on the winning side against bulls as the crypto market grapples to stay afloat. Fueled by the recent Fed rate hike, crypto assets maintain a steady decline, including Monero (XMR). However, Ethereum Classic (ETC) saw a sharp bounce after an appeal court ruled in favor of Grayscale regarding the approval of its Bitcoin ETF. Meanwhile, VC Spectra (SPCT) hit a home run at the third stage of its presale cycle.
Let’s find out why VC Spectra might emerge as a winner against its contemporaries.
Monero (XMR) Dips Amid Plans To Integrate With BTC Wallet
On August 5, 2023, Samourai, a Bitcoin custodian wallet concerned with user privacy, announced a move to approve an atomic exchange between Bitcoin (BTC) and Monero (XMR). According to Samourai, this development was geared towards improving the privacy of clientele. As expected, news as such would impact the market of both Monero (XMR) and Bitcoin (BTC).
With Monero (XMR) being the center of attention based on this report, the crypto community had anticipated a positive outlook on the price of XMR. To their dismay, Monero (XMR) fell considerably, shedding a massive 11.5%. Monero (XMR) descended from a high of $164.2 to a low of $145.3 between August 5 and August 28.
A significant degree of the drop in the price of Monero (XMR) came on the heels of the release of the minutes of the Fed’s meeting on August 16. The entire market took a downturn after the Fed proposed a potential hike in interest rates to curb inflation.
Following the news, Monero (XMR) dropped from $155.73 to $140.86 between August 16 and August 18. For now, Monero might continue to test new support zones until the Fed decides what to do about interest rates.
Ethereum Classic (ETC) Rallies As Court Rules in Favor of Grayscale
Meanwhile, Ethereum Classic (ETC) holders witnessed a glimpse of hope after the token reversed upward after months of decline. In the last 24 hours, Ethereum Classic (ETC) has registered a 2.62% increase in price. At press time, Ethereum Classic (ETC) is trading around $16.17, having changed hands at $16.06.
Ethereum Classic (ETC) bulls swooped into the market following reports that an appeal court has favored Grayscale’s Bitcoin ETF in its legal contest against the SEC on August 29. For context, experts underscored some of the benefits this victory will offer the general market. According to them, ETF futures and spot ETF may now see the light of day.
The crypto community received the news with joy as assets concerned, including Ethereum Classic (ETC), surged by 200% in daily trading volume. This amounted to a 4.8% rise in Ethereum Classic’s (ETC) price, as the asset went to trade at $16.39.
Analysts opined that if Ethereum Classic (ETC) holds court at the $16 price level, it might mean a positive outlook for the asset in the long run, substantiating their claims with indicators on the Ethereum Classic (ETC) chart.
VC Spectra (SPCT) Remains Strong Despite Negative Market Sentiment
As bulls continue to struggle with bears, VC Spectra (SPCT) remains unaffected by the scene. VC Spectra (SPCT) keeps holding the fort as investors keep scooping massive returns from their investments.
VC Spectra (SPCT) is a decentralized hedge fund that allows users to benefit from its appealing compensation plan. VC Spectra (SPCT) adopted a quarterly dividend and buyback program to enable investors to reinvest their profits.
As an innovative technology, VC Spectra (SPCT) exists on the BRC-20 standard token mainnet with an intrinsic deflationary layer. VC Spectra (SPCT) has several use cases, including decentralized trading, management of assets, and payment of transaction fees.
Recently, VC Spectra (SPCT) entered Stage 3 of its public presale at $0.025. So far in the presale cycle, Stage 1 investors have spooned 212.5% gains on their capital. In the Second stage, investors gained 127.27%.
Anyone who buys VC Spectra (SPCT) at the current price of $0.025 stands to make a 32% return on their investment when the price hits $0.033 in Stage 4. Ultimately, VC Spectra is the best cryptocurrency in the market today, especially as its presale target price equals $0.08, a 220% surge from the current valuation!
Learn more about VC Spectra (SPCT) and its presale:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Disclaimer: This is a paid-for sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
