Cardano and dYdX Whales bet big on an up-and-coming Altcoin, sparking a massive price rally
Cardano (ADA) and dYdX (DYDX) have performed better than many top altcoins. In addition to demonstrating significant potential, they have also observed an increase in whale transactions. However, there is a noticeable shift in the attention of whales towards VC Spectra (SPCT), an emerging blockchain ICO, positioning itself as a highly favorable investment option.
Let’s find out why ADA and DYDX whales make SPCT their go-to token.
Cardano (ADA) sell-offs could lead to further price decline
On November 1, 2023, the price of Cardano (ADA), one of the top ten cryptocurrencies, surged from its October 31 low of $0.29 to $0.31. The ADA token hike followed a surge in transaction volumes, leading high-profile market watchers, including John Morgan, to revise their outlook for the Cardano price prediction.
Between November 3 and November 9, Cardano (ADA) whale transactions on the network increased by over 1 million. The surge in whale transactions raised concerns about a pessimistic Cardano price prediction as investors sold off their ADA holdings to realize profits.
Fueled by the more extensive market altcoin bull rally, Cardano’s (ADA) price hit $0.40 on November 16, its highest level since April 2023. However, Cardano (ADA) quickly gave up its gains, and as of November 21, its price dropped by 5% from the monthly high of $0.40 to $0.38.
Is Cardano a good investment? Bullish analysts are hopeful about an optimistic Cardano price prediction spurred by fresh media and investor attention.
By the end of 2023, they anticipate ADA will have broken past the $0.45 resistance, while pessimistic analysts think the price will fall to $0.31 due to sell-offs.
Bearish dYdX could dip its price further to trade below the $2.5 threshold unless bulls take control
Like Cardano (ADA), dYdX is another altcoin with a good share of large whale transactions in November 2023. DYDX started its November rally trading at $2.31, and it maintained a steady trajectory, with the price going above the $3 mark on November 13.
On the same day, November 13, there was a massive deposit of 500,000 dYdX to Binance by a wallet address associated with the altcoin. Subsequently, the price of dYdX rose by 16% to $3.38 on November 13, reflecting an increase from its low of $2.83 on November 12.
Overall, dYdX maintained an upward trajectory, with the price hitting a monthly high of $4.38 on November 16. However, the altcoin declined soon after, and as of November 21, the price was $2.92, depicting a 33.3% decline due to sell-offs and Bitcoin’s price dropping.
Analysts predict the price of dYdX will rebound to as high as $5 by the end of 2023 if bulls turn around the current bearish trend. Bearish experts anticipate the price dropping below the $2.5 mark if the sentiment persists.
VC Spectra (SPCT) gains massive investor interest following its impressive price trajectory and gains
Cardano (ADA) and dYdX whales are shifting their focus towards VC Spectra (SPCT), one of the new DeFi projects, because of its innovative approach to investment and massive gains. The community-based decentralized hedge fund provides investors with the most lucrative opportunities from high-performing blockchain and fintech startups.
Furthermore, VC Spectra (SPCT) ensures its investors reap maximum profits with minimal risks by leveraging the most innovative AI-fueled trading strategies and a team of field experts.
Based on the BRC-20 protocol, the SPCT token includes a deflationary feature that gradually decreases the supply. Additionally, SPCT token holders have the privilege to vote on the success of future investments, and they get early access to discounted ICOs.
VC Spectra (SPCT) has enjoyed immense investor attention since raising $2.4 million in its private/seed sale. Its gainful public presale stages have seen investors gain more than what many other top crypto coins offer.
Starting Stage 1 at $0.008, VC Spectra (SPCT) is now in Stage 5 with a 862.5% surge to trade at $0.077.
Investors can anticipate gaining more after SPCT gets listed on exchanges in 2024. With this promise and all the benefits, it’s no wonder whales are choosing VC Spectra (SPCT) as their preferred top crypto to invest in today.
Learn more about the VC Spectra (SPCT) presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
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