Binance’s $4 billion settlement uncertainty impacts BNB, causing a 7% dip. Bitcoin Cash’s (BCH) downturn deepens post-EDX delisting and miner sell-off, with predictions at $194 in December. In contrast, VC Spectra’s (SPCT) public presale thrives, soaring 862.5% to $0.077. As investors navigate crypto uncertainties, SPCT offers an appealing alternative. Don’t miss out on the crypto revolution
Summary
- BNB’s price tumbled 7% to $232 amid concerns over Binance’s $4 billion settlement, impacting Bitcoin, which exhibited a cautious response, with analysts predicting a $207 BNB price in December.
- Bitcoin Cash (BCH) faces a 5% decline to $224, intensified by EDX Markets’ delisting and a significant drop in whale demand, while on-chain data reveals reduced corporate transactions.
- VC Spectra’s (SPCT) public presale, now at Stage 5 with a price of $0.077 (862.5% increase), surpasses expectations.
BNB Price Dips Amid Binance’s Legal Uncertainties
In a week, the BNB coin price experienced a notable setback, witnessing a 7% decline, reaching $232 on November 23. BNB’s dip raised concerns within the crypto market, reflecting uncertainties surrounding Binance’s potential $4 billion settlement to resolve multiple U.S. criminal charges.
The impact of this development extends beyond BNB, influencing Bitcoin (BTC), which also faced a bearish turn. As news of Binance’s legal challenges unfolded, Bitcoin exhibited a cautious response, dampening market sentiment. Despite an initial surge in the wake of relief rallies, Bitcoin’s trajectory has been tempered, with a mere 1% uptick observed on the day.
The market appears to be adopting a wait-and-see approach, acknowledging the potential repercussions of Binance’s settlement of not only the BNB coin price but the broader cryptocurrency landscape. Analysts’ BNB price prediction suggests that the BNB coin price could reach $207 in December.
Bitcoin Cash (BCH) Faces Downturn Amidst EDX Delisting
The Bitcoin Cash price (BCH) has experienced a notable downturn in a week, plunging by 5% to hit $224 on November 23. This Bitcoin Cash price bearish trend is exacerbated by the aftermath of EDX Markets’ delisting of BCH, a move that triggered a significant decline in whale demand, as evidenced by the drop in large transactions.
Notably, the on-chain data reveals a stark reduction in trading activity among corporate entities and high-net-worth investors, with the number of large transactions plummeting from 472 on November 2 to a 40-day low of 195 on November 19.
Adding to the negative sentiment is the substantial sell-off by Bitcoin Cash miners and node validators, offloading 230,000 BCH (~$50.4 million) from their reserves within the last 20 days.
This mass exodus signals a lack of confidence in Bitcoin Cash’s (BCH) future prospects, contributing to a growing supply in the market and exerting downward pressure on the price. Analysts’ Bitcoin Cash price prediction suggests that the Bitcoin Cash price (BCH) could reach $194 in December.
VC Spectra (SPCT): Public Presale Surges 862.5%
VC Spectra (SPCT), having successfully raised $2.4 million in its private seed sale, is now progressing through a public presale that has garnered substantial attention.
The presale unfolds in multiple stages, each revealing an escalating token price. Currently at Stage 5 with an altcoin price of $0.077, SPCT has witnessed a remarkable 862.5% increase from its initial price of $0.008, underlining its growing appeal.
The surge in demand has led to investors expecting VC Spectra (SPCT) to surpass its initial forecast of $0.080 by the end of the presale, making it one of the best cryptos to invest in.
VC Spectra stands out as a decentralized hedge fund, distinguishing itself by rewarding users with quarterly dividends and buybacks sourced from investment profits. Beyond financial incentives, users also gain exclusive access to new ICOs in seed/private sales and voting rights.
The SPCT token, operating on the Bitcoin blockchain, follows the BRC-20 standard, offering utility in exchange, decentralized trading, asset management, and transaction fee settlements on the VC Spectra platform.
With a deflationary design incorporating a burn mechanism, the token aims to reduce circulation over time, contributing to its long-term sustainability.
As investors navigate the uncertainties surrounding established cryptocurrencies like BNB and Bitcoin Cash (BCH), VC Spectra (SPCT) emerges as an enticing alternative, backed by a robust framework and innovative features that resonate with the demands of the evolving crypto landscape.
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
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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