Although still in presale, VC Spectra (SPCT) is blazing a trail in the DeFi space. The decentralized investment platform is attracting attention, and this reflects how fast SPCT is getting snapped up in presale. Ethereum (ETH) investors will be hoping the SEC approves the ETF applications. For BNB (BNB), what effect will the closure of Binance Connect have on the fortunes of the token?
Let’s go into the details and see if VC Spectra (SPCT) can compete with Ethereum (ETH) and BNB (BNB).
VC Spectra’s (SPCT) DeFi Revolution Attracting Investors
VC Spectra (SPCT) is on a mission to transform the investment arena with the vision of making it possible for everyone, regardless of financial expertise, to invest in profitable blockchain projects.
VC Spectra (SPCT) will employ precision in spotting the right investment opportunities at the pre-ICO stage. The platform will also focus on a long-term sustainable investment approach to reduce risk and ensure profitability.
SPCT, VC Spectra’s token, is a BRC-20 standard token used for exchange, decentralized trading, asset management, and transaction fees on the platform. Token holders can also expect quarterly dividends and voting rights.
All these plans and benefits have excited investors, which is why the public presale is progressing faster than expected.
VC Spectra is currently at Stage 2 of the public presale. The price of VC Spectra (SPCT) tokens has already increased from $0.011 to $0.025 ahead of schedule. As a result, Stage 1 investors pocketed 212.5% gains. Moreover, participants at this stage of presale will benefit from a 220% surge at the end of presale when the price becomes $0.08.
SEC Is Likely To Approve Ethereum (ETH) Futures ETFs
The US Securities and Exchange Commission (SEC) will likely approve the applications of approximately 12 companies that have requested permission to list Ethereum (ETH) futures ETFs.
According to sources familiar with the matter quoted by Bloomberg, the SEC will not block the applications. The approval dates are still uncertain, but officials have said that some of the applications to debut Ethereum (ETH) futures ETFs will be approved as early as October.
Some companies that have filed for permission to deal in Ethereum (ETH) ETFs include Volatility, Shares, ProShares, Roundhill, and Bitwise.
Since the report was released on August 17, Ethereum’s (ETH) price has fallen by approximately 7% from $1,805.57 to $1,677.82 on August 18. Apparently, the news hasn’t driven an increase in the price of ETH. This is likely due to the current crypto bear market.
It seems the market is being cautious and waiting for a definitive decision from the SEC on Ethereum (ETH) before entertaining any bullish sentiment. However, if the futures ETFs are approved, Ethereum (ETH) could break the $1,900 limit this year.
Binance Connect To Shut Down As BNB Price Plummets
Binance has said it would be closing down its service that connected cryptocurrencies with traditional financial institutions. According to a Biswap post on their official X account, Binance will be phasing out Binance Connect to focus on its core businesses.
This news and the business’s eventual shutdown could potentially reduce confidence in the Binance ecosystem and the native token BNB.
Since the news got out on August 15, BNB has lost ground in the market. As of August 16, 2023, BNB’s price stood at $236.69. However, by August 18, the coin had lost 8.2% and was valued at $217.23. This may point to a further decline for BNB when the shutdown comes into force.
To learn more about VC Spectra (SPCT), visit:
Disclaimer: This is a paid-for sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
