BNB Drops in Value Despite Innovation on The Beacon Chain, LINK and SPCT Surge in Value
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Investor sentiment and innovations are factors that determine the price of cryptocurrencies. However, Binance Coin’s (BNB) value dropped after significant improvements on the Beacon Chain.
On the other hand, positive investor sentiment in Chainlink (LINK) and VC Spectra (SPCT) has seen their prices surge. Let’s see the three tokens’ movement below.
Binance Coin (BNB) Sees A Price Drop As Investors Ignore Its Beacon Chain Advancements
The price of Binance Coin (BNB) is unexpectedly on a downward trend after unveiling upgrades on the Beacon Chain.
Increasing regulatory challenges against Binance have caused investor pessimism on Binance Coin (BNB) in both the exchange and derivative markets.
In the last 24 hours, the price of Binance Coin (BNB) has declined 3.04%, from $246.53 to the current $239.02.
Reports that regulators in Australia and Europe have enhanced scrutiny into the operations of Binance have pushed investors away, causing the price downturn on Binance Coin (BNB).
In the last month, Binance Coin (BNB) has been bearish and has lost 3.5% of its value. While the cryptocurrency market is experiencing a mild bearish sentiment, the long-term outlook for Binance Coin (BNB) remains bullish.
Analyst predictions indicate that Binance Coin (BNB) could surge to close July at $276.80.
However, if the bearish sentiment against BNB persists, analysts project it will end July at $216.
Updates on Chainlink (LINK) Lead to a Price Increase
While innovations on Beacon Chain had little effect on Binance Coin (BNB), Chainlink (LINK) gained spectacularly. Innovations by Chainlink (LINK) have led to a surge in the price of its native token, Chainlink (LINK).
On July 17, Chainlink (LINK) launched its CCIP advancements and gained several high-profile adopters. The upgrades raised investor interest due to the activation of the Defi-TradFi bridge.
Consequently, Chainlink's (LINK) price surged by 10% from $7.89 to $8.68 after the announcements. While the Chainlink (LINK) advancements are still in their infancy, their results have attracted investor interest and a higher price.
Analysts project that Chainlink (LINK) could reach $10 by the end of 2023 if the bullish run persists.
SPCT Price Surges As It Enters Second Presale Stage
While Chainlink (LINK) is a promising project with a lot of potential, it is essential to acknowledge the outstanding achievements of VC Spectra (SPCT) during its presale phase.
VC Spectra (SPCT) is a decentralized hedge fund employing blockchain technology to develop an investment avenue.
It invests shareholder funds’ in cryptocurrencies and promising technology startups. It uses algorithmic and systematic trading strategies to identify and invest in profitable blockchain projects.
Moreover, VC Spectra (SPCT) is highly appealing to potential investors who seek early-stage investment opportunities.
VC Spectra (SPCT) rewards its investors with quarterly dividends and buybacks based on how their investments perform.
VC Spectra (SPCT) has concluded its first presale stage to go into the second. In this stage, investors witnessed a 37.5% price surge from $0.008 to $0.011.
Further, VC Spectra (SPCT) token is a Bitcoin-based BRC-20 standard coin. Investors can use it to trade, pay transaction fees on the SPCT network, and asset management.
It is deflationary, with a burn mechanism that reduces coins in circulation to maintain value. Investors can also buy it using the Ethereum or Bitcoin network (ERC-20 and BRC-20).
Overall, VC Spectra (SPCT) presents an appealing investment opportunity, particularly for those seeking the estimated 900% profit at the end of the presale stage.
The team behind VC Spectra (SPCT) is known for its innovativeness in the sector which could lead to more profits.
Find out more about the VC Spectra (SPCT) presale here:
Buy Presale: https://invest.vcspectra.io/login