Maker’s (MKR) price takes off from $887 to $1,088 per token as of July 23. Is MakerDAO, a decentralized finance lending platform, responsible for the nearly 23% surge in the price of Maker (MKR) last week? Meanwhile, VC Spectra (SPCT) secured $2.4 million from its private seed sale. It closed Stage 1 of its public presale at $0.008 per token. It is now on Stage 2, priced at $0.011 per token, giving Stage 1 investors a huge 37.50% profit. Have crypto investors found VC Spectra (SPCT) a better alternative for Maker (MKR)? Let’s find out!
The Unprecedented Effect of Maker’s (MKR) Buyback Program
Maker (MKR) closed June 2023 positively at 31.38%. Its day change on June 30 was 21.68% in favor of the bulls. Additionally, it went up by 15.02% on July 3, 2023. On July 21, it registered an intraday high of $1,257.83. Where do all the bullish sentiments come from?
Analysts give credit to MakerDAO’s buyback program, which is quite similar to the quarterly dividends and buyback program of VC Spectra (SPCT). Maker (MKR) pushed the start button for the buyback program as it planned to remove around $7 million worth of tokens by July 2023. It has a market cap of approximately $1 billion. This buyback initiative will wipe out 0.7% of tokens every month.
A buyback creates a scarcity effect, which leads to a potential increase in the value of Maker (MKR). That is the power of the law of supply and demand – your Economics 101. According to the news, MakerDAO purchased $230,000 in Maker (MKR) tokens last week.
If the price continues to go up amid the execution of the buyback program, it means the scarcity effect is successful. It’s just time before VC Spectra (SPCT) does the same. Maker’s (MKR) support is near $857, while resistance is at $1,190. Bulls claim Maker’s (MKR) uptrend will likely continue.
It might retest the mid-term support at $980 per token to pull as much bullish momentum as possible before rebounding from $980 to $1,100 apiece, per analysts.
VC Spectra’s (SPCT) Unique and Systematic Buyback Program
Maker (MKR) doesn’t monopolize the idea of having a buyback program. VC Spectra (SPCT) has it, too. VC Spectra (SPCT) is a decentralized hedge fund democratizing blockchain technology. On July 20, it tweeted the mechanics of its buyback program.
Its buyback program has many levels depending on the volume of tokens in your portfolio. You must have at least 500,000 VC Spectra (SPCT) tokens to qualify. VC Spectra’s (SPCT) buyback program is also its way of doing profit-sharing campaigns. It commits 40% of its monthly profits to qualified token holders. The reward percentage keeps increasing as the number of tokens in possession increases. It tweeted that it has a projected 170% average Initial Coin Offering (ICO) profit.
VC Spectra’s (SPCT) buyback program aims to encourage crypto enthusiasts to buy more tokens for a higher percentage of rewards and dividends. Those with at least 500,000 tokens will be rewarded 1% of the 40%, while those with at least 1 million will get 1.5% of the 40%. Get 10% out of 40% if you have at least 25 million VC Spectra (SPCT) tokens. The list goes on. All rewards are paid in USDT or USDC.
This buyback program is not the only advantage of VC Spectra (SPCT) over Maker (MKR). It is already in Stage 2 of its public presale. This means Stage 1 investors already earned 37.50%.
Once it enters Stage 3, Stage 2 investors will bag 127.27% profit. Its current price is $0.011 per token. Is the profitability in VC Spectra (SPCT) higher than Maker (MKR)? The answer goes without saying.
Learn more about the VC Spectra (SPCT) presale:
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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