Ethereum’s (ETH) extensive support for smart contracts has fueled the growth of decentralized applications across various sectors, while Fantom’s (FTM) key strengths lie in its scalability and speed. However, the two stand in the limelight as Tether Holdings recently froze two addresses on the Ethereum (ETH) network, causing a sense of uncertainty among numerous users.
Amid all the Ethereum (ETH) and Fantom (FTH) challenging circumstances, VC Spectra (SPCT) continues to demonstrate resilience and steady growth. The project’s public presale is approaching Stage 2, and investors can anticipate an ROI of 37.5%.
Effects of Tether’s Freezing of USDT Addresses on the Prices of Ethereum (ETH) and Fantom (FTM)
After a significant breach of the Multichain protocol, hackers launched a Twitter phishing scam aimed at Fantom (FTM) users. The hackers duped the users into thinking the fraud was legit, and the Fantom (FTM) Foundation received much hate mail.
Hackers stole nearly $130 million from different assets in the attack on Multichain’s Fantom Bridge. That was close to all of the wBTC, USDC, and USDT in circulation for the project.
Noticing a possible vulnerability in the cross-chain router technology Multichain, Tether froze two Ethereum (ETH) network addresses receiving payments from Multichain’s multi-party computation (MPC) address.
The Ethereum (ETH) network addresses came after a suspicious day of mass withdrawals from the Multichain MPC Bridge on July 6, prompting security concerns.
Multichain announced suspending its services via Twitter but did not specify when they would resume. Additionally, Multichain discourages consumers from utilizing the service because all bridging transactions remain on the source chains.
Multichain further emphasized the necessity of taking precautions and urged its customers to withdraw any contract approvals related to them. Many users were left in limbo after the cross-chain platform abruptly terminated its services.
Ethereum (ETH) gained over 3.2%, even after the recent Tether freeze, which occurred two days ago. Ethereum’s (ETH) price is steadily growing, despite the hassle. This resilience has led experts to believe that Ethereum’s (ETH) may increase through the end of 2023. If it retains its current momentum, a move beyond $2,000 is likely possible for Ethereum (ETH).
On the other hand, Fantom (FTM) has been impacted significantly by the abnormal movements of funds from its Multichain bridge, leading to irregular price fluctuations. As a result, Fantom (FTM) dropped by 11% 24 hours after the hack. In addition, at $0.266, Fantom (FTM) is down 14% in a week and 10% in the last 30 days.
Yet, bullish analysts predict that Fantom (FTM) will recover. The 2023 price prediction for Fantom (FTM) is a maximum of $0.40 and a minimum of $0.34. These predictions are based on optimistic market sentiment and the belief that Fantom (FTM) will stabilize at around $0.36.
VC Spectra (SPCT): Unleashing the Potential of Venture Capital Funding
VC Spectra (SPCT) is an innovative decentralized trading platform and asset management protocol challenging traditional investment approaches in the blockchain and technology sectors.
VC Spectra (SPCT) uses algorithmic and systematic trading strategies for profitable trading execution. With a user-friendly interface, investors can control their investments while minimizing risks.
Furthermore, its robust architecture allows VC Spectra (SPCT) to handle high transaction volumes with minimal latency, allowing quick and reliable on-chain transfers.
The SPCT token is “BRC-20” with a deflationary burn mechanism that reduces token circulation over time. VC Spectra (SPCT) also grants exclusive access to pre-ICO discounts and voting rights for future sales.
During its seed/private sale, VC Spectra (SPCT) secured a substantial $2.4 million in two weeks. So far, Stage 1 presale tokens are over 75% sold. With an initial price of $0.008 and an ambitious target price of $0.08, VC Spectra (SPCT) strives to accomplish a 10x surge by the end of the presale.
Learn more about the VC Spectra presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io/
Twitter: https://twitter.com/spectravcfund
Telegram: https://t.me/VCSpectra
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