• Ethereum (ETH) and Dogecoin (DOGE) have been on a downward trend due to various factors, while VC Spectra (SPCT) has seen impressive performance during its presale stage.
• The Ethereum (ETH) community is questioning why an Ethereum (ETH) whale sent coins worth over $4 million to burn. Paypal launched an Ethereum-based stablecoin, but it did not increase ETH’s value.
• Dogecoin (DOGE)’s price has dropped 6.4% from $0.078 to $0.073 in the last week, following excitement after indications it would be part of a new Twitter platform.
Ethereum & Dogecoin Lose Steam
Ethereum (ETH), the second most capitalized crypto asset, has been on a downward streak affecting Dogecoin (DOGE) and other coins. On the other hand, VC Spectra (SPCT) has gained significant profits and attention from investors in its presale stage.
Why is VC Spectra Doing Well?
An unusual event occurred in the Ethereum (ETH) community when an Ethereum (ETH) whale sent coins worth over $4 million to burn . Additionally, Paypal launched an Ethereum-based stablecoin , however this did not increase ETH’s value which caused deflation numbers to remain low . This resulted in choppy markets for both small and large coins leading to bearish market sentiment with analysts predicting that the price of ETH may drop to as low as $1,800 by the end of the week .
Dogecoin Struggles To Sustain Price Momentum
Dogecoin’s price has fallen 6.4% from $0.078 to $0.073 after a significant price increase in July due to hype around its potential use for a new Twitter platform . Furthermore, Tesla removed Bitcoin as one of their accepted forms of payment leaving only Dogecoin as the remaining option . However, weak markets and little volatility have caused a bearish market sentiment with experts predicting DOGE may fall even further down to $0.072 by week’s end .
VC Spectra Attracts Investors
As popular assets flail due to low volatility and weak markets , VC Spectra (SPCT )has attracted investor attention due its impressive performance during its presale stage .
Conclusion
The crypto market continues on its downward trend with popular assets such as Ethereum and Dogecoin suffering losses while smaller projects like VC Spectra are showing promise with strong performances during their pre-sale stages . While experts predict that these conditions may persist for some time , investors should continue monitoring all emerging projects closely before making any investments decisions .
