Token unlocks in the crypto market can often be seen as bearish signs due to the basic principles of supply and demand. Two projects, Sui (SUI) and Hedera (HBAR), are currently facing token unlocks, and analysts are closely watching how these events will impact their respective prices.
In the midst of these unfolding events, VC Spectra (SPCT) is making waves with its fast-moving presale, where millions of tokens are being released. Investors are flocking to this decentralized finance (DeFi) protocol, which aims to disrupt the asset management industry.
Let’s take a closer look at Sui (SUI) and Hedera (HBAR) and what we can expect from their token unlocks.
Sui recently introduced liquid staking, which attracted a significant number of users. As a result, the project reached a milestone of 600,000 daily active accounts. The price of Sui also rose by 38%, going from $0.45 to $0.62, despite the overall downturn in the crypto market. However, these gains have since been erased, and the price of Sui is currently trading at $0.51. The upcoming unlock of 70.89 million tokens, which represents nearly 10% of its circulating supply, is likely to drive the price further down. Historical data suggests that the potential sell-offs may last for about two weeks. However, forecasts indicate that Sui could see bullish prices in the future, with a minimum target of $1 by 2024.
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Moving on to Hedera (HBAR), the project recently surpassed 19 billion transactions since its inception. Its partnership with Dropp, a payment platform using Hedera (HBAR), as a service provider for the new FedNow, gave a boost to its value, resulting in a 31% rise from $0.052 to $0.069. Unfortunately, this increase was short-lived, and the price has since returned to its former level. Hedera will be unlocking 1.5 billion ARB, which accounts for 3.48% of its circulating supply. Considering the recent bearish price action, it is expected that Hedera (HBAR) will further trend down. However, forecasts suggest that the price could reach at least $0.10 by the end of the year.
Now, let’s delve into VC Spectra (SPCT) and why it is gaining attention in the market.
VC Spectra (SPCT) recognizes the bullish potential of the blockchain and tech industries and offers a state-of-the-art decentralized hedge fund for new ventures in these markets. In addition to asset management, VC Spectra will serve as a sophisticated trading platform, utilizing machine learning strategies to manage portfolio risks while ensuring profitable gains. The use of smart contracts allows anyone globally to enjoy an autonomous investing experience without the hassle of intermediaries.
Similar to Sui (SUI) and Hedera (HBAR), SPCT has a finite supply of 1 billion tokens. Moreover, it has deflationary properties as a portion of SPCT in VC Spectra’s transaction fees will be removed, making it an attractive investment option. However, the benefits of investing in SPCT go beyond its tokenomics. Holders of the Spectra token (SPCT) will receive privileges such as quarterly dividends, voting rights, and access to exclusive discounted pre-ICOs.
VC Spectra is currently in Stage 3 of its presale, with SPCT trading at a bargain price of $0.025. During Stage 4, the price is expected to increase by 32% to $0.033. The presale phase will conclude with a significant 220% increase, resulting in a new price of $0.08 upon VC Spectra’s official launch.
To learn more about the VC Spectra presale and stay updated on the project, interested individuals can visit their website, join their Telegram channel, and follow them on Twitter.
In conclusion, token unlocks can have varying impacts on a project’s price, and it will be interesting to observe how Sui (SUI) and Hedera (HBAR) navigate these events. Additionally, VC Spectra (SPCT) is making a name for itself in the DeFi space with its decentralized hedge fund and innovative features, making it a promising investment opportunity for those interested in the blockchain and tech industries.
