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Ethereum (ETH) and Maker (MKR) Early Investors Turn Their Attention to a New Promising Cryptocurrency

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Due to uncertainties, Ethereum (ETH) and Maker (MKR) early backers are diverting their attention to an intriguing newcomer, stirring excitement and debate within the crypto community. As the spotlight shifts to this rising star, let’s delve into the latest developments shaping the landscape and explore why VC Spectra (SPCT) is emerging as a beacon of stability and innovation.

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Summary

  • Despite Ethereum’s (ETH) 1% price increase to $2,061 on November 23, concerns over ecosystem stability persist due to skepticism around Blast, a layer-2 blockchain, and broader uncertainties in the crowded DeFi space.
  • Despite Maker (MKR) seeing an 8% weekly surge to $1,473 on November 23, accumulating MKR by large wallet investors raises concerns as on-chain metrics indicate a potential bearish outlook.
  • VC Spectra (SPCT) stands out amid crypto uncertainties, raising $2.4 million in a successful private seed sale and impressing with an 862.5% surge in its public presale, projecting a bright 2023 outlook.

Ethereum Challenged with Uncertainties, Bearish ETH Price Prediction

Despite the recent marginal 1% increase in Ethereum’s (ETH) price, reaching $2,061 on November 23, there are concerns looming over the ecosystem’s stability. The buzz surrounding Blast, a layer-2 blockchain, has sparked a divisive response within the crypto community. 

While the project has accumulated an impressive $225 million in staked assets, questions arise regarding its reward mechanism, with critics likening it to a pyramid scheme. The skepticism surrounding Blast adds to broader uncertainties about the necessity of additional layer-2 networks in the already saturated decentralized finance (DeFi) space. 

With 232 blockchains in existence, Ethereum’s (ETH) dominance is being challenged, as competitors like Tron and BSC claim significant shares. Furthermore, the emergence of layer-2 networks from major exchanges like Coinbase and Kraken raises doubts about Ethereum’s ability to maintain its position, affecting the Ethereum prediction. 

Investors are grappling with these uncertainties, casting a shadow over the ETH price prediction. Analysts’ ETH price prediction suggests that ETH  could reach $1,966 in December.

Maker (MKR): Recent Surge Faces Bearish Signals

Maker’s MKR crypto has witnessed an 8% surge in a week, reaching $1,473 on November 23. However, recent developments suggest a potentially bearish outlook for Maker’s MKR crypto. Notably, large wallet investors have accumulated MKR, but the concerning factor lies in the unrealized profits they currently hold. 

While these whales sit on substantial gains, on-chain metrics paint a gloomy picture. The supply of the MKR crypto on exchanges has surged from 7.01% to 9.49%, indicating an uptick in selling pressure. Moreover, the Network Realized Profit/Loss (NPL) metric exposes a significant profit-taking activity on October 24, typically preceding a price decline. 

The increasing supply on exchanges is poised to exert downward pressure on the MKR price, signaling a probable correction. In this context, caution is advised as the confluence of profit-taking, rising exchange reserves, and potential selling pressure may outweigh the recent price gains, pushing Maker (MKR) into a bearish trajectory in the short term.

Analysts expect Maker (MKR) to reach $1,288 in December.

VC Spectra (SPCT): Rising Star in Crypto Stability

In contrast to Ethereum (ETH) and Maker (MKR), VC Spectra (SPCT) emerges as a beacon of stability and innovation in the crypto landscape. Having successfully raised $2.4 million in its private seed sale, VC Spectra (SPCT) is now in the midst of a groundbreaking public presale that has captivated the crypto community’s attention.

VC Spectra (SPCT) stands out as a decentralized hedge fund, offering users unique benefits such as quarterly dividends, buybacks from investment profits, access to new ICOs in seed/private sales, and voting rights. 

The SPCT token, built on the Bitcoin blockchain, operates on the BRC-20 standard and serves multiple purposes, including decentralized trading, asset management, and transaction fee settlement on the VC Spectra platform.

The public presale, consisting of multiple stages, has already exceeded initial expectations, with the Stage 5 price surging by an impressive 862.5% to $0.077. Due to overwhelming demand, VC Spectra (SPCT) is poised to surpass its projected end-of-presale altcoin price of $0.080, making it one of the best altcoins in 2023.

Unlike some of its competitors grappling with uncertainties like Ethereum (ETH) and Maker (MKR), VC Spectra’s real-life utility and robust features position it as an excellent investment opportunity. 

With a deflationary model and a burn mechanism reducing token circulation over time, SPCT is not merely a speculative asset but a practical tool for users within the VC Spectra ecosystem.

 

Learn more about the VC Spectra presale here:

Presale: https://invest.vcspectra.io/login

Website: https://vcspectra.io

Telegram: https://t.me/VCSpectra

Twitter: https://twitter.com/spectravcfund

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John Kiguru
John Kiguru
John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@ethnews.com Phone: +49 160 92211628
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