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Analysts bullish on Ethereum; VC Spectra and Celestia on focus

Press Releases
Analysts bullish on Ethereum; VC Spectra and Celestia on focus

Recent data indicates that fees and miner revenue on the Ethereum (ETH) network have been rising steadily. This could have implications for overall platform activity and valuation models.

VC Spectra (SPCT) has seen a sharp price increase of 725% year-to-date. As a new project, the long-term impacts on adoption and use cases remain unpredictable.

Celestia (TIA) is building a blockchain to reduce gas fees for on-chain games by optimizing scalability. This could improve usability experiences for developers and players.

Summary

  • For ETH, closing above $2,150 could boost short-term momentum.
  • VC Spectra uses smart contracts and automated functions to enhance security and cost efficiency.
  • TIA could reach $9.10 by the end of 2023.

Ethereum remains bullish

Data shows that over the past month, Ethereum network fees collected have risen 180% while total miner revenue is up 218.6%.

At the same time, the circulating supply of ETH decreased slightly by -0.31% due to burning.

These usage and scarcity metrics have correlated with ETH’s price climbing back above the $2,000 level as of Nov. 21 after recent volatility.

Some analysts cite resumed accumulation by large “whale” investors and institutional interest driving renewed demand.

Ethereum’s developers continue working towards future network upgrades like the Cancun hard fork, which aims to enhance scalability and governance. 

Execution on Ethereum’s long-term roadmap toward sustainability, security, and decentralization remains integral to the blockchain’s role as a leader in crypto innovation.

VC Spectra enabling crypto investments

Analysts bullish on Ethereum; VC Spectra and Celestia on focus - 1

VC Spectra is a new blockchain project in its stage 4 presale phase, with SPCT available at $0.066. 

Thus far in the sale, the SPCT price is up 725% from initial levels. Some analysts estimate SPCT may reach $0.080 eventually if momentum continues.

VC Spectra aims to develop an accessible decentralized platform for asset management and trading. It incorporates automated smart contracts to promote security and efficiency. 

The protocol also employs portfolio diversification and hedging techniques to reduce risk exposure for users.

By targeting ease of access globally, VC Spectra hopes to attract investors interested in decentralized finance (defi) tools for managing blockchain assets.

Celestia releases cost-effective solutions for gaming

Celestia, a defi project, has significantly reduced gas fees on the OP Stack. 

This achievement was made possible by deploying a fully on-chain version of the popular game 2048 on an OP Stack layer-3 of Base Goerli on Nov. 16.

By leveraging Celestia‘s optimized DA layer, this deployment has enabled each in-game move to cost a mere $0.0008 per transaction, reducing gaming expenses. 

This fee reduction is due to the efficient utilization of Celestia’s DA layer and the minimization of settlement costs as a layer-3 on Base.

As of Nov. 21, TIA was changing hands at around $5.90. However, analysts predict TIA to reach as high as $7.50 by the end of November. 

Learn more about the VC Spectra 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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