Monero (XMR) is slowing down after experiencing persistent surges toward the end of June. Optimism (OP) suffers from a similar fate as its 7-day bullish streak came to an end on August 1. Traders closely scrutinize the descending trajectory of both coins as VC Spectra (SPCT) emerges as the new trailblazer. having raised $2.4 million during its private sale.
Before we delve deeper into VC Spectra’s (SPCT) exceptional traction, let’s take a moment to observe the current situation of Monero (XMR) and Optimism (OP).
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Monero (XMR) Faces Persistent Price Erosion Amidst Market Volatility
In the week leading up to August 1, 2023, Monero’s (XMR) price took a significant hit, suffering from a fall of 1.5% from $162.52 to $160. This loss was further accompanied by a substantial 2.7% dip in market cap from $2.98 billion to $2.90 billion. But perhaps the greatest plunge was in trading volume, which fell by 8.3% from $97.43 million to $89.37 million.
Monero’s (XMR) decline can be attributed to a persistent surge in market volatility. Additionally, SEC’s regulatory crackdown on privacy coins from June 5 has sent speculative assets like Monero’s (XMR) price downward. Lastly, strong competitors like Zcash (ZEC) further contribute to Monero’s (XMR) downfall.
But Monero’s (XMR) multi-month downtrend seems to be ending. Despite the persistent bearish movement, Monero (XMR) has a unique combination of scarcity and real-world utility. Traders can confirm an uptrend by seeing if Monero (XMR) reaches key support around $150 and resistance at $190.
However, investors may want to avoid Monero (XMR) until the negative price momentum dies.
Optimism (OP) Struggles to Sustain Momentum
On July 30, Optimism (OP) unlocked $36 million worth of tokens, constituting approximately 3.6% of Optimism’s (OP) circulating supply. A similar previous token unlock for Optimism (OP) on June 30 resulted in a 10.7% sell-off across all Optimism (OP) trading pairs.
Based on previous data, we can also anticipate a similar Optimism (OP) price action plunge for this unlocking event. On August 1, Optimism’s (OP) price plummeted significantly by 6% from $1.68 to $1.58. This loss was further accompanied by a similar drop of 1.7% in market cap from $1.14 billion to $1.12 billion.
The overall sentiment for Optimism (OP) is bearish due to the recent token-unlocking event. Optimism’s (OP) price will likely climb if the bulls seize market control. But the MACD line and the sudden appearance of a red candlestick on the daily chart indicate that bullish movement is fading away for Optimism (OP). This indicates that the bearish movement will continue to dominate in the future. Therefore, investors should hold out on putting money in Optimism (OP).
Traders may therefore want to opt for VC Spectra (SPCT) instead, which promises growth in the near future.
VC Spectra (SPCT) Experiences Phenomenal Surge as Presale Continues
VC Spectra (SPCT) is a promising decentralized asset management platform focusing on ICOs and early-stage investments. VC Spectra (SPCT) employs innovative trading strategies and cutting-edge technology like artificial intelligence to identify lucrative investment opportunities. Investing in VC Spectra (SPCT) guarantees maximum returns with minimal risks.
VC Spectra (SPCT) investors can enjoy unique perks such as maximum transparency and a window to benefit from VC Spectra’s (SPCT) price appreciation. Furthermore, VC Spectra (SPCT) has further incentivized investors by reserving a staggering 40% of its investment gains for monthly and quarterly dividends.
VC Spectra (SPCT) has made tremendous progress throughout its presale stages, experiencing an impressive 37.5% surge from $0.008 to $0.011 as it transitioned from Stage 1 to Stage 2. As VC Spectra (SPCT) proceeds to Stage 3, investors can anticipate a potential 127% price appreciation from $0.011 to $0.025.
Furthermore, if you act now, you can benefit immensely from VC Spectra’s (SPCT) limited-time offer of a 25% bonus on all deposits.
Find out more about the VC Spectra (SPCT) presale here:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund