Based on recent market data, Maker cratered below $1,400, causing MKR investors to dump their bags. Likewise, the Cosmos crypto falls amidst ecosystem development. On the other hand, VC Spectra maintains a bullish trajectory despite a lukewarm market outlook.
Let’s find out which of these top crypto coins investors find the most appealing in October and beyond – MKR, ATOM, or SPCT.
Summary
- Maker investors sold off their holdings after MKR plunged below $1,400.
- Cosmos welcomes ICON Foundation’s Omni-chain on the network.
- VC Spectra (SPCT) trails higher despite slow market conditions.
Whales Temporarily Lay Off Maker As MKR Sinks
Spot on Chain, a blockchain analytic firm, reported that Maker (MKR) plummeted significantly on October 1, crashing below the $1,400 support zone. In particular, Maker (MKR) fell from $1,533 to $1,379 between October 1 and October 2, marking a 10.04% decline. Due to this slump, a handful of Maker (MKR) whales began to cut down their holdings.
Spot on Chain called attention to two major wallets that converted many Maker (MKR) tokens into Ethereum (ETH) on October 3. Together, the two whales exchanged 983 MKR crypto valued at $1.4 million for Ethereum (ETH).
The first whale, identified as 0x432, liquidated his position, having realized $506,000 from his Maker investment, which he entered when MKR was at $1,160. He then sold off his 649 MKR crypto through a decentralized exchange as the price of Maker slipped.
Meanwhile, the second whale, 0x373, converted 333 MKR crypto into Ethereum (ETH). This investor scooped in $445,000 in gains from his initial investment.
Although Maker (MKR) slid into a download at the start of October, it soon reversed to the upside on October 4. Experts believe Maker will sustain the uptrend through the next few days, with the MKR price possibly revisiting $1,500.
Omni-chain Messaging Standard Launches on Cosmos
On October 5, the ICON Foundation proclaimed the debut of xCall, an on-chain messaging standard, on Cosmos. This launch portends a strategic move to fuse xCall’s solutions into the Inter-Blockchain Communication (IBC) protocol of Cosmos. Integrating IBC into Cosmos (ATOM) will streamline development processes for developers and users within the Cosmos network.
The interoperability network of ICON links directly to Archway and Neutron, two blockchains operating within the Cosmos ATOM ecosystem. xCall will ensure the smooth running of decentralized applications on Cosmos, irrespective of their chosen interoperability network. Hence, dApps primed to receive messages from a blockchain connected to xCall can seamlessly receive more messages from other chains connected to xCall.
Despite the development, the Cosmos crypto dived from $6.96 to $6.83 on October 5, representing a 1.91% decrease in the price of ATOM. The Cosmos crypto has yet to show any significant sign of recovery, so experts expect ATOM to fall lower. More specifically, they anticipate a decline to $6.68 in the Cosmos crypto price.
VC Spectra Rallies Higher Amid Weak Market Bearing
With ATOM and MKR in a bubble, VC Spectra (SPCT) has emerged as the messiah cryptocurrency investors can rely on. Unlike ATOM and MKR, VC Spectra is staging a substantial growth form even amid its public presale.
VC Spectra (SPCT) is a decentralized blockchain technology that seeks to revolutionize traditional finance by providing more lucrative investment opportunities. VC Spectra serves multiple functions, including decentralized trading, asset management, and covering transaction fees. SPCT investors can expect quarterly dividends, participate in a buyback program, exercise voting rights, and access new ICOs.
SPCT is the standard token at the core of VC Spectra, operating on the Bitcoin blockchain’s BRC-20 layer. This mainnet incorporates a deflationary mechanism to ensure future SPCT tokens’ scarcity.
SPCT is presently in its third stage of the public presale. At this stage, SPCT is valued at $0.044. Investors who decide to participate now stand to achieve an 81.81% return on investment (ROI) by the conclusion of the public sale when the price reaches its $0.080 goal.
Interestingly, VC Spectra provides a 100% bonus on each deposit as an incentive for users!
VC Spectra presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
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