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The phrase "and it is speculated to be" is correct and usable in written English.
You can use it when discussing theories or assumptions about something that is not confirmed or proven.
Example: "The ancient artifact was found in a remote location, and it is speculated to be linked to a lost civilization."
Alternatives: "and it is believed to be" or "and it is thought to be".
Exact(2)
Programmed cell death (PCD) is a fundamental process in both multicellular and unicellular organisms, and it is speculated to be one of the important factors contributing to the emergence of drug resistance.
16 17 However, the mechanisms causing this decline have not been examined or identified, and it is speculated to be consequence (among others) of successful implementation of health policies that led to the expansion of access to primary health care.
Similar(58)
This thin layer was speculated to be natural tungsten oxide.
"Beyond that, it's speculating about hypotheticals".
Everyone is speculating about the Marshes now.
All we can do is speculate.
All I can do is speculate.
It's exactly what was speculated yesterday.
Twitter users are speculating as to what it could be.
"Things that are being speculated upon as happening — we are not speculating.
Some causes underlying this phenomenon are speculated on.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com