After heavy outflows in early June, Gate.io’s GateToken (GT) does not seem to be doing all that well. On the other hand, PancakeSwap (CAKE) may be snapping out of a losing streak. But overall, VC Spectra (SPCT) may be one of the coins you want to pay the most attention to.
Let’s look at some of the details behind the scenes for each coin.
GateToken (GT) Suffers Following the MultiChain Collapse
Between 31 May and 1 June, GateToken (GT) suffered a sharp 10% loss in price. This followed the arrest of MultiChain’s founder and CEO on May 21, 2023, a platform that had assets on Gate.io. Around the start of June, Gate.io’s withdrawals surged quite high. GateToken’s (GT) exchange, Gate.io, experienced $148 million worth of withdrawals between 31 May and 1 June.
These heavy withdrawals harmed GateToken’s (GT) market sentiment. And it seems like GateToken (GT) is still suffering from the aftereffects of the bad press. The timing of the withdrawals sparked speculation and rumors about the cause of the withdrawals.
A common rumor was that the withdrawals were linked to MultiChain, which affected GateToken (GT). MultiChain recently shut down operations in mid-July following the arrest of its CEO in China.
But, overall, the current losses are not as sharp as they were for GateToken (GT) earlier. The GateToken (GT) price fell by 4.5% from $4.4 on 14 July to $4.2 on 21 July. The GateToken (GT) market cap also experienced a similar down spike of 4.1% from $428.9 million to $411.5 million. The trading volume for GateToken (GT), however, fell more sharply from $1.83 million to $0.72 million, a 60.7% fall.
Such a sharp fall indicates that the upcoming short-term performance for GateToken (GT) may not be the most promising. But on a more positive note, PancakeSwap’s (CAKE) longer-term performance may be a little more uplifting.
PancakeSwap (CAKE) Turns Around Losing Week With a Positive Closing Performance
PancakeSwap (CAKE) recently announced its partnership with Google Cloud. This partnership should help PancakeSwap (CAKE) by improving operations. The partnership should also help PacakeSwap (CAKE) in staying ahead of the DeFi competition.
Since Google is one of the biggest names, the partnership news bodes well for PancakeSwap (CAKE). The price for SWAP increased by 5% around July 11, following the announcement.
However, PancakeSwap’s (CAKE) gains lasted only a short time. During the last seven days up to July 21, PancakeSwap’s (CAKE) price fell from $1.60 to $1.55, a 3.1% down spike. But, the chart for the last 24 hours up to July 21 for PancakeSwap (CAKE) was green, with the price climbing by 2.0%, from $1.52 to $1.55.
So while the short-term performance may keep bulls optimistic, bears also have a reason to be a little more careful with PancakeSwap (CAKE).
And that covers both of our more- established coins for the day. So let’s talk about the new investment opportunity, VC Spectra (SPCT).
VC Spectra (SPCT) Has a Positive Outlook Moving Forward
VC Spectra (SPCT) is a decentralized hedge fund that focuses on early-stage investments. Its approach makes VC Spectra (SPCT) a unique offering that bridges the gap between fintech and blockchain.
VC Spectra (SPCT) chooses the best projects to invest in using modern tools like AI and trading strategies. This series of rigorous tests helps VC Spectra (SPCT) prioritize maximum returns for minimum risk.
As far as returns go, VC Spectra (SPCT) investors have two aspects to look forward to. Firstly, VC Spectra (SPCT) Investors can expect quarterly dividends and buybacks. Secondly, they benefit from VC Spectra’s (SPCT) price appreciation.
The most recent price increase for VC Spectra (SPCT) happened during its move to Stage 2 of the presale. VC Spectra (SPCT) registered a 37.5% increase from $0.008 to $0.011. During the next move to the subsequent Stage 3 of the presale, we can expect a price increase of 127% from $0.011 to $0.025.
And on top of all that, if you invest in VC Spectra (SPCT) now, you can benefit from a limited-time offer of a 25% bonus on all deposits.
Find out more about the VC Spectra (SPCT) presale here:
Buy Presale: https://invest.vcspectra.io/login