Trouble is brewing in the Binance paradise. The exchange is facing regulatory pressures globally, and, in turn, it has laid off over 1,000 employees in recent weeks. Even senior Binance officials are leaving the embattled firm resulting in severe dips in BNB prices. On the other hand, VC Spectra’s (SPCT) price increased by 37.5% at Stage 2 of its public presale, attracting many investors seeking high returns on their investments.
BNB is heavily shorted as more Binance employees are laid off
Binance is cutting down its workforce after many executives exited the company. The firm is currently entangled in lawsuits with the U.S. Securities and Exchange Commission (SEC) for knowingly violating securities laws, hence putting investors at risk of losses. Also, Binance is under investigation by the DOJ (Department of Justice) in a probe that could end with a settlement or consent decree.
In that context, traders within the perpetual futures market linked to the BNB token are heavily bearish. Data from Coinglass indicates that open interest and volume-weighted funding rates in perpetual futures are dominated by positions that benefit from a BNB price drop (shorts). The BNB shorts seem ready to pay longs to keep their bearish bets open.
The sentiment in the current BNB market has worsened because of the recent high-profile staff exits, the pending DOJ case against Binance’s CEO Changpeng “CZ” Zhao, and inconsistencies linked to BCH withdrawals from the Binance.US platform.
The market remains persistently nervous, as seen from the deeply negative BNB trading rates, with analysts insisting that more bad news is coming up for BNB. In that context, BNB has dipped steeply from $260.60 a week ago to lows of $238.80. The coin is currently consolidating near $244, awaiting the next price action.
VC Spectra (SPCT) is a haven for investors amid the turbulent crypto market
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VC Spectra (SPCT) is expected to record extensive adoption, pushed by its groundbreaking features and unrivaled real-world utility, as highlighted by analysts. As this hidden gem finds its way to mainstream crypto exchanges, it is expected to surpass competitors.
VC Spectra is a decentralized hedge fund that expertly chooses the most lucrative investment opportunities in currently available blockchain projects and technology startups. SPCT token holders enjoy access to varied tokens and niche markets, receiving quarterly dividends and buybacks according to the profits made from their well-informed investment selections.
VC Spectra’s advanced trading systems choose the best market options with enhanced precision. Thus, VC Spectra (SPCT) enables investors to diversify their portfolios with projects that guarantee massive gains at minimal risks of losses.
Equally, VC Spectra has a deflationary token, SPCT, that gives exclusive access to many pre-ICO discounts and voting rights for future sales. This seems to be the best time to buy SPCT at an exceptionally low price of $0.011.
VC Spectra (SPCT) Stage 2 investors will get a 627% profit by the end of the public presale when the price reaches the forecasted $0.08. Moreover, they qualify for many benefits after the official mainstream launch.
Learn more about VC Spectra (SPCT) and its presale:-
Buy presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
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Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
