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Solana (SOL) and Polygon (MATIC) recorded a double-digit price surge in the second week of July 2023. On the other hand, Bitcoin (BTC) saw steady bearish retracements, while Ethereum (ETH) lost almost all its July 13 gains.
Right now, VC Spectra (SPCT) is doing better than Bitcoin (BTC) and Ethereum (ETH) in the crypto market. This new platform has already raised $2.4 million in private seed sales, and the token is selling fast at the public presale.
Solana (SOL) Retains July 13 Gains, Rallies for Extended Bull Run
On June 5, 2023, Solana (SOL) was classified as unregistered security by the US SEC in a lawsuit against major crypto exchanges. This action triggered a bear run for Solana (SOL) in June.
In a turn of events, a federal court ruled that XRP did not meet the standards set for a security. At the moment, tokens like Solana (SOL) and Polygon (MATIC) now have a judicial precedent to prevent the SEC from classifying them as securities.
As a result, the price of Solana (SOL) surged. On July 13, Solana (SOL) was trading at $21.54 before the ruling. After the court judgment, Solana (SOL) traded at $29.68 on July 14.
Surprisingly, Solana (SOL) outperformed many tokens, including Bitcoin (BTC) and Ethereum (ETH), this past week.
Polygon (MATIC) Retraces After Price Surge
Polygon (MATIC) had a better price action than even Bitcoin (BTC) and Ethereum (ETH) this past week.
On July 13, Polygon (MATIC) traded at $0.7149. However, Polygon (MATIC) surged in less than a day and sold for $0.8722.
The coin has retraced, and Polygon (MATIC) is selling for $0.7813. This price action means Polygon (MATIC) investors are still enjoying their gains from last week.
For the record, Polygon (MATIC) recorded a price surge after a favorable judgment on SEC vs. Ripple security classification case.
VC Spectra (SPCT) Takes Crypto by Storm, Prepares for Massive Surge
Apart from Polygon (MATIC) and Solana (SOL), another token that has continued to impress investors is VC Spectra (SPCT).
VC Spectra (SPCT) is a decentralized hedge fund built to promote blockchain development through strategic investments.
As a VC Spectra (SPCT) holder, you get quarterly rewards and a share in the profits from buybacks of profitable investments.
Currently, VC Spectra (SPCT) is at its first presale stage. VC Spectra (SPCT) is selling for $0.008 now, and it will increase by 37.5% in the next few days.
When VC Spectra (SPCT) finally hits the market, it will sell at $0.08 and deliver a 10x ROI to early VC Spectra (SPCT) investors.
So, it’s safe to say, in July 2023, VC Spectra (SPCT) is performing better than Bitcoin (BTC) and Ethereum (ETH).
Bitcoin (BTC) Dominance Falls, Price Remains Stable at $30,000
After the June SEC vs. XRP court ruling on July 13, 2023, Bitcoin’s (BTC) dominance fell from 49.9% to 48.5%.
According to experts, this is a direct result of speculative trading and the bullish trend in the crypto market. Bitcoin (BTC) traded at $30,300 on July 13, rising to $31,700 within a day.
For a brief moment, Bitcoin (BTC) traded below $30,000 support and sold for $29,790 on July 17. However, Bitcoin (BTC) quickly retraced to its stable price and is currently trading at $30,082.
Ethereum (ETH) Retraces After Breaking $2,000 Resistance
The second week in July was volatile for Ethereum (ETH), and this price action was significant because Ethereum (ETH) had not broken through $2,000 resistance since April 19, 2023.
From July 13 to July 14, Ethereum (ETH) traded between $1,865 and $2,023.
Subsequently, Ethereum (ETH) dropped to $1,912 on July 14, and the token is currently trading for $1,905.
According to analysts, the XRP ruling was too weak to have a significant long-term price impact on cryptos as powerful as Ethereum (ETH).
Learn more about the VC Spectra (SPCT) presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io/
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
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