Compound (COMP) has performed well recently, fueled by whale activity around the end of June 2023. On a similar note, VC Spectra (SPCT) has been catching the eye of Bitcoin investors. VC Spectra is a new decentralized hedge fund with a unique real-life utility that has obtained $2.4 million in its private seed sale. So what could the hype be about? Let’s find out.
Whales and Recent Developments Signal Bullish Activity for Compound (COMP)
On 28 June, an anonymous wallet deposited $3 million worth of USDT on Binance. In return, they withdrew 50,000 COMP worth a little over $2.2 million. The next day, the same wallet holder withdrew another 120,000 COMP from Binance, worth around $5.5 million. That brought the total withdrawn COMP value to over $7.7 million.
Around the same time, Compound’s (COMP) CEO, Robert Leshner, announced the launch of a new company called Superstate. This company will be related to Compound (COMP) and function as an investment manager. Compound’s (COMP) new related entity will primarily deal in government securities like bonds. Eventually, the Superstate fund by Compound (COMP) is supposed to function like stablecoins and become the base layer for blockchain economics.
In light of these events, Compound’s (COMP) price has increased by 26.8% between July 13 and 16 from $65.3 to $82.8. Compound’s (COMP) market cap has also grown by 28.1% during the same period, from $504.3 to $645.8 million.
However, Compound’s (COMP) price has come down to $71.5, with the market cap falling to $555.6 million.
So, it’s also worth noting that whale activity is temporary, and its positive effects on Compound’s (COMP) recent performance may soon wane. And although Superstate might have shoes too big to fill with becoming an alternative to stablecoins, there are more promising new ventures around, like VC Spectra (SPCT).
Why Are Bitcoin Investors Turning To VC Spectra (SPCT)?
VC Spectra (SPCT) is an investment management fund like Superstate. But instead of focusing on government securities, VC Spectra (SPCT) hones in on early-stage investments in crypto ICOs. How does VC Spectra (SPCT) choose which ones to invest in? Good question. It uses AI algorithms, trading strategies, and rigorous testing to determine which projects make the cut.
Due to VC Spectra’s (SPCT) utility, its price is expected to skyrocket by up to 10x by the end of its public presale. VC Spectra (SPCT) has transitioned from Stage 1 of its presale to Stage 2. During this transition, VC Spectra (SPCT) has gained a significant 37.5% in price from $0.008 to $0.011.
Moreover, the best is yet to come. As VC Spectra approaches Stage 3, holders anticipate the price to reach $0.025, generating further gains for SPCT investors. Better yet, if you participate in the presale now, you can get a limited-time 50% bonus on your VC Spectra (SPCT) deposits.
Bitcoin (BTC) Loses Momentum After Recent Surge
Bitcoin’s (BTC) price chart has been red after July 14’s surge. Bitcoin’s (BTC) surge came against the backdrop of Blockrock’s application to register a Bitcoin (BTC) Exchange Traded Fund (ETF) with the SEC. This application was accepted on July 13.
Establishing this ETF, among other similar moves, should help Bitcoin (BTC) eventually become one of the standard stores of value for the world.
However, the short-term performance of Bitcoin (BTC) is not the most exciting. Bitcoin (BTC) was worth $31.7K on July 14 but experienced a sudden downtick to $29.9K on July 19. This was a loss of 6% for Bitcoin’s (BTC) price. The market cap for Bitcoin (BTC) showed a similar trend, with a loss of 6% from $616 billion to $581 billion in the same period.
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
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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