Crypto Market Update: BNB Faces Pressure, SPCT and ORDI Show Promise
As crypto investors enjoy an uptrend, altcoins are seeing mixed fortunes. BNB (BNB), the exchange token issued by Binance, has seen little price movement compared to the market’s increase in trading volume. ORDI (ORDI) and VC Spectra (SPCT), a new project that raised $2.4 million in its private seed sale, are making impressive moves.
Why are SPCT and ORDI Pumping While BNB is Facing Downward Pressure?
Summary
- SPCT reaches $0.066, earning investors 725% gains.
- Due to being a blue-chip crypto, analysts have a long-term bullish view of BNB.
- The renewed interest in ORDI has caused transaction fees on the BTC network to spike.
BNB Price Prediction Ahead of 2024
BNB has a headstart over many cryptocurrencies as it is considered a blue-chip cryptocurrency. This has led to BNB firmly holding to its position as a top ten cryptocurrency.
BNB has experienced a meteoric rise over the years. However, Binance has faced several challenges against regulators, plunging BNB into a tailspin. BNB is down 29.5% from its 2023 peak after tanking from $348.18 on April 17 to $245.22 on November 17.
Despite the headwinds, analysts have given a long-term bullish BNB price prediction, expecting the blue-chip cryptocurrency to pick steam in Q2 2024. As a top 10 cryptocurrency, BNB will likely face selling pressure in the short term, analysts say.
VC Spectra (SPCT) Surpasses Expectations
Is VC Spectra (SPCT) the best new crypto to invest in? VC Spectra (SPCT) is a decentralized asset management protocol that strategically identifies and invests in groundbreaking ideas and new ICOs. The result is profitable investments at low risk.
The proprietary, state-of-the-art trading systems of VC Spectra (SPCT) employ unparalleled precision in picking the best projects, allowing it to excel where others falter. This approach allows VC Spectra (SCPT) to share its profits from investments with SPCT holders through quarterly dividend payouts.
SPCT, the BRC-20 utility token of the VC Spectra ecosystem, has several use cases that include voting rights and early access to new projects. In addition, VC Spectra (SPCT) has a deflationary token model, meaning its value and scarcity increase over time.
VC Spectra (SPCT) has made its mark during the presale, where its price has soared by 725% after increasing from $0.008 in Stage 1 to $0.066 in Stage 4. As a top crypto coin to invest in, VC Spectra (SPCT) investors will earn a 900% gain when the presale in Stage 6 at a projected price of $0.08 per SPCT token.
Can ORDI (ORDI) Maintain its Momentum?
Is ORDI – or Bitcoin Ordinals – the best crypto investment? There was renewed interest in ORDI, causing its price to surge 659% after soaring from $3.41 on October 18 to $23.81 on November 15. Even influential figures have unintentionally given their stamp of approval to ORDI.
However, the success of ORDI comes with an unintended consequence for BTC traders. The renewed enthusiasm for ORDI has led to a spike in Bitcoin transaction fees, impacting the overall cost of engaging in BTC transactions.
While ORDI seems to have some momentum, analysts warn that such a move requires correction to be sustainable. Is ORDI the best crypto to buy? Experts say it is a good long-term hold.
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