What's Driving Investors from Ethereum (ETH) and Stellar (XLM) to This New Coin?

What’s Driving Investors from Ethereum (ETH) and Stellar (XLM) to This New Coin?

27 November 2023

in XLM

Reading Time: 4 mins read

Investors are increasingly seeking new opportunities, shifting their focus from top crypto coins like Ethereum (ETH) and Stellar (XLM) to emerging players like VC Spectra (SPCT). Ethereum’s recent surge in open interest and Stellar’s integration with Alchemy Pay’s fiat-crypto ramp services reflect their ongoing relevance. However, VC Spectra’s impressive performance in its ongoing public presale has caught the eye of investors. Let’s learn more.

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Summary

Ethereum’s (ETH) open interest on the CME platform saw a 21% surge.
Experts say XLM is facing resistance at $0.13.
VC Spectra (SPCT) has increased by 862.5% till Stage 5 presale.

Ethereum (ETH) Witnesses Surge In Open Interest

On November 23, Ethereum’s (ETH) open interest significantly rose by 2.5% to 3.59 million ETH, marking the highest level since August. Notably, Ethereum’s open interest on the CME platform surged by 21%, approximately 320 thousand ETH, nearing its all-time high from November 2022. This development highlights Ethereum’s increasing liquidity and trader engagement and has a positive impact on Ethereum price predictions.

Ethereum (ETH) has been showing a bullish trend, notably staying above the key $2,000 support level on November 24. Its value is well above the 50-day and 100-day exponential MAs, indicating a sustained bullish trend. Ethereum price prediction shows a resistance point at $2,150 and crucial support at $2,000.

Besides, Ethereum price prediction indicates a break above $2,100 could lead to further gains, targeting $2,300. However, failing to breach $2,100 could trigger a downward correction, with major support at $2,000. Ethereum price prediction also shows if Ethereum (ETH) can’t hold $2,000, then it could drop to the $1,700 level. Investors may be worried about these falls and looking for better DeFi companies to invest in.

Alchemy Pay Enhances Stellar (XLM) Network with Fiat-Crypto Ramp Services

Alchemy Pay has partnered with the Stellar XLM ecosystem to provide on and off-ramp services, enhancing the accessibility of fiat-crypto transactions for developers and dApps on the Stellar network. This collaboration allows for seamless integration of Alchemy Pay’s services, enabling direct crypto purchases with fiat through various payment methods.

On November 24, Stellar XLM was trading around $0.11, with a slight decrease of 1.11%. Experts say Stellar (XLM) is facing resistance at $0.13, leading to a sideways trend. Still, recent movements suggest a bearish continuation due to an inclining wedge pattern forming over a longer period.

Crypto analysts say Stellar XLM could target $0.15 if it breaks above the resistance. But, a drop from support of $0.10 could see XLM fall to $0.08. Thus, Stellar coin investors are looking for better alternatives to new ICOs like VC Spectra (SPCT).

Investor Interest Shifts to VC Spectra (SPCT)

Investor interest is increasingly pivoting towards VC Spectra (SPCT), particularly evident in its ongoing public presale, overshadowing established cryptocurrencies like Ethereum (ETH) and Stellar (XLM). This shift is attributed to VC Spectra’s remarkable presale performance and its unique approach to decentralized finance.

Currently, in Stage 5 of its presale, VC Spectra (SPCT) has recorded an impressive 862.5% increase in its price. It rose from $0.066 in Stage 4 to $0.077. This uptrend reflects strong investor confidence and hints at the likelihood of surpassing the initial forecast of $0.080 by the end of the presale.

VC Spectra (SPCT) tokens, purchasable using Ethereum or Bitcoin, are part of a BRC-20 standard. It is also integral to VC Spectra’s (SPCT) platform for exchange, trading, asset management, and transaction fees. As a decentralized hedge fund, VC Spectra stands out by offering quarterly dividends and buybacks from investment profits, access to exclusive new ICOs, and voting rights for its investors.

VC Spectra (SPCT) also places a strong emphasis on sustainable and ethical investment practices. By focusing only on projects that meet its sustainability, transparency, and social responsibility standards, VC Spectra (SPCT) ensures its investments make a positive societal and environmental impact. Thus, it’s able to attract investors from other top altcoins.