Recent information revealed that Aave’s 24-hour transaction volume profit-to-loss ratio sprung to its highest mark since May. Also, Polkadot published a report showing remarkable ecosystem progress in Q3 despite the declining DOT price. Amid these developments, decentralized investment protocol VC Spectra (SPCT) has emerged, challenging top crypto coins with its incredible potential.
Let’s find out if top crypto coins can match up to the challenge posed by the new crypto star, SPCT.
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Summary
- Aave’s daily transaction volume profit-to-loss ratio soared to its peak level.
- Polkadot disclosed numerous ecosystem developments amid plunging DOT prices.
- VC Spectra (SPCT) enthralls the crypto community with impressive real-time utilities.
Aave (AAVE): Transaction Volume P2L Reaches Annual High
On October 2, on-chain analytic firm Sentiment spotlighted a development in the profit-to-loss ratio of Aave’s (AAVE) daily transaction volume. Per the information provided, Aave’s transaction volume profit-to-loss ratio hit its zenith since May. This phenomenon resulted from Aave (AAVE) mirroring Bitcoin (BTC) on the positive side.
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Aave’s (AAVE) transaction volume profit-to-loss ratio skyrocketed after Bitcoin (BTC) overpowered resistance at $27,800 and briefly traded around $28,000. During this period, Aave (AAVE) printed a modest upside rally. In particular, Aave rose from $60.71 on September 28 to $72.21 on October 1, indicating a 17.93% rise in the Aave price.
However, the Aave price has plummeted ever since, creating lower lows on the chart. On a more positive note, whales have begun accumulating more Aave tokens, which is a good action for the asset. Due to this turn of events, experts have forecasted new potential levels for Aave.
According to their Aave price prediction, AAVE will hit $68.84 in October. This move represents a potential 17.3% increase in the Aave price. For reference, Aave (AAVE) is currently trading at $63.34.
Polkadot Reveals Ecosystem Progresses Amid Declining DOT Value
On October 6, Polkadot (DOT) issued a report highlighting the network’s achievements in the third quarter of 2023. Per the report, Polkadot (DOT) experienced major technical upgrades and unveiled new parachains, to name a few.
Five parachains were launched on the Polkadot (DOT) network in Q3 2023. They are Bit. Country, InvArch Network, Peaq, Energy Web, and Noble. For context, parachains, also known as parallelizable chains, facilitate interactions between the Polkadot (DOT) and Kusama (KSM) blockchains.
Parachains assist in sending and receiving information to and from the Relay Chain. The Relay Chain is the link between Polkadot (DOT) and Kusama (KSM). By unleashing new parachains, DOT developers are ensuring seamless and congruous activities within the protocols.
Meanwhile, the Polkadot price dipped amid the developments. Notably, DOT fell from $5.18 to $4.10, translating to a 20.79% decline in the Polkadot price. Due to the divergent Polkadot price action, experts project a negative outlook for DOT.
According to their Polkadot price prediction, DOT will continue dropping lower, with bears exacting pressure on the asset. By the end of October, DOT will be trading at $3.49, marked by a looming 8.8% decline in the Polkadot price. For reference, Polkadot (DOT) is currently exchanging hands at $3.85.
VC Spectra (SPCT): The Super Star In The Crypto Constellation
Amid the dull outlook of Polkadot (DOT) and Aave (AAVE), VC Spectra (SPCT) shines with its incredible value proposition and sophisticated utility variation. VC Spectra (SPCT) stands out from the crowd as more than just your average cryptocurrency. It functions as a decentralized hedge fund, capturing attention through its distinctive approach.
VC Spectra (SPCT) offers the best investment alternative, leveraging AI technology to deliver a soothing experience to investors. Early backers of VC Spectra have benefitted bountifully from its growth proportion since its emergence. However, that is no hindrance to new adopters looking to gain massively from VC Spectra (SPCT).
This exceptional project offers SPCT holders quarterly dividends and provides buybacks from the returns yielded by their investments. Not only that, VC Spectra also empowers its users with voting influence and grants them access to new ICOs. This approach enhances user engagement and involvement within the platform.
SPCT, VC Spectra’s token, serves as the vital force behind this groundbreaking platform. Adhering to the BRC-20 standard, it possesses versatility, enabling its utilization for various purposes such as facilitating exchanges, decentralized asset management, covering transaction fees, and enabling trading on the VC Spectra platform.
Recently, VC Spectra staged a third rally in the third stage of its public presale, driving the price of SPCT to $0.044. This upsurge was triggered by increasing demand. New investors will amass an impressive 81.81% gains after VC Spectra (SPCT) rallies to $0.080 at the end of the presale phase. Moving forward, VC Spectra now offers a 100% deposit bonus to users.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Source: https://thecryptobasic.com/2023/10/12/can-aave-aave-and-polkadot-dot-bounce-back-is-a-new-rising-star-set-to-challenge-crypto-leadership/?utm_source=rss&utm_medium=rss&utm_campaign=can-aave-aave-and-polkadot-dot-bounce-back-is-a-new-rising-star-set-to-challenge-crypto-leadership