VC Spectra (SPCT) Soars, AVAX & ARB Struggle to Gain Momentum

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• VC Spectra (SPCT) soared to new heights by raising $2.4 million in its private sale.
• Avalanche (AVAX) failed to spark investors’ interest as it continued its bearish streak that began on July 25.
• Arbitrum (ARB) followed a similar pattern by exhibiting negative price movement following the hacking event on July 30.

VC Spectra’s (SPCT) Winning Trajectory

VC Spectra (SPCT) made headlines after raising $2.4 million in its private sale. On August 8, 2023, Circle announced the launch of its programmable wallets on Polygon, Ethereum, and Avalanche (AVAX). This will enable companies to accept digital asset payments from their consumers which should benefit Avalanche (AVAX) in the long run by increasing its utility and drawing investors’ interest. As of August 13, Avalanche’s (AVAX) STOCH levels pointed towards potential for a bullish movement.

Avalanche’s (AVAX) Struggles

Despite positive news surrounding Avalanche’s (AVAX), the coin failed to spark investor interest as it continued its bearish streak that began on July 25. Between August 8 and August 13, Avalanche’s (AVAX) price fell by 0.5% from $12.43 to $12.37 with a substantial 2.5% decrease in market cap from $4.26 billion to $4.25 billion during the same time period As of August 13, 61.8% Fibonacci levels signaled tremendous selling pressure and an ongoing bearish movement indicating that investors may want to avoid buying until an uptrend is confirmed..

Arbitrum’s (ARB) Fading Momentum

Arbitrum experienced a substantial 5