Despite the approval of the CRV token proposal, Aave (AAVE) has continued to experience a decline in value. Additionally, the price of the Graph (GRT) token has dropped due to comments made by the US SEC. However, amidst the broader bearish market conditions, VC Spectra (SPCT) remains a bright spot with an impressive 220% ROI. Let’s see how.
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Aave (AAVE) Community Backs CRV Token Acquisition Proposal Amidst Market Volatility
The Aave DAO, led by Marc Zeller of the Aave Chan Initiative, recently announced that the community approved the “aCRV OTC” proposal on August 11, 2023. This proposal involves the acquisition of CRV tokens using USDT from the Aave DAO’s treasury.
According to Zeller, the proposed acquisition aims to showcase the Aave DAO’s support for the broader DeFi ecosystem. This strategic move is also expected to bring additional benefits, such as improving secondary liquidity for Aave’s stablecoin, GHO.
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However, the Aave community has displayed mixed sentiments toward the CRV acquisition. Around 42.19% of the votes oppose the proposed acquisition, while nearly 58% of the Aave community voted in favor of the proposal.
Interestingly, the news has not yet had a significant impact on Aave’s token price. AAVE has gradually declined from $68.20 to $56.96, marking a 16.46% price drop between August 11 and August 20. This suggests that the decision may not align with the long-term interests of the Aave community or maybe a temporary halt due to the prevailing market conditions.
The Graph (GRT) Price Faces A Decline Amidst SEC Comments on AI Regulation
On August 15, 2023, US SEC Chair Gary Gensler took to Twitter to discuss the potential application of securities laws to the use of AI technology. He expressed his view that this move is part of the agency’s efforts to protect consumers at both individual and systemic levels.
With the suggestions that regulators are turning their attention to the AI industry, market participants reacted by selling AI-related tokens such as The Graph (GRT). This was also the case when rumors circulated in the market about increased regulation.
The Graph (GRT) token continued falling from $0.11 to $0.09 between August 15 and August 20. As a result, The Graph (GRT) marked an 18.18% drop due to the overall bearish market sentiment.
The falling prices of the Graph (GRT) token, along with an increasing trading volume, suggest a potential bearish breakout for the Graph (GRT). Many crypto experts expect the Graph (GRT) token to continue declining, especially if the broader market conditions remain bearish.
VC Spectra’s (SPCT) Public Presale Defies Market Volatility with An Impressive 220% ROI
Amidst Aave (AAVE) and The Graph (GRT) token falling in value, VC Spectra (SPCT) continues to impress in its public presale, offering a 900% ROI.
VC Spectra (SPCT) operates as a decentralized hedge fund that rewards users with quarterly dividends and buybacks derived from their investment profits. Users are also granted exclusive opportunities to participate in new ICOs during seed/private sales and hold voting rights within the platform.
The VC Spectra token (SPCT) is an integral component of the Spectra ecosystem, following the BRC-20 standard. It facilitates exchange, decentralized trading, and asset management and covers transaction fees on the platform. Built on the Bitcoin blockchain, this deflationary token incorporates a burn mechanism to gradually decrease token circulation over time.
VC Spectra (SPCT) experienced a rapid surge in price to $0.025 during the initial stages on August 17. This significant price increase corresponds to Stage 3, even though the token is still in Stage 2 of the public presale. Consequently, Stage 1 investors have already achieved an impressive gain of 212.5%, while Stage 2 investors have seen a 127.27% ROI.
If someone purchases VC Spectra (SPCT) tokens at $0.025, they will experience a significant surge of 220% by the end of the presale when the price of VC Spectra (SPCT) reaches $0.08. Meanwhile, those that got in at the initial price of $0.008 and choose to hold are in for 900% gains!
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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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