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The first week of April was volatile for the cryptocurrency market, with the Bitcoin (BTC) price declining below the $70,000 level. The pseudonymous analyst and trader Rekt Capital suggests that BTC risks seeing a 22% drop. Also, InQubeta (QUBE) has triggered high anticipation among investors and analysts for its launch, contending against the blockchain powerhouse crypto Solana (SOL).
Solana seems to be at a critical crossroads amidst a decrease in its DEX trades and a technical challenge. The InQubeta project utilizes trending NFTs (non-fungible tokens) to offer a distinct cryptocurrency and artificial intelligence (AI) crowdfunding platform. Following its unique proposition and price rally, its final presale round is selling out quickly, raising over $13.2 million.
This article covers why analysts eye Solana’s rival; InQubeta’s next big move, and Rekt Capital’s analysis of Bitcoin.
InQubeta (QUBE): Standout AI Investment Model
InQubeta comes with a fresh approach to investing in AI as it connects investors with budding AI ventures. The project allows these startup companies to get seed funding by minting investment opportunities in the platform’s custom-built NFT marketplace, granting investors access to capitalize on the startups they believe in. When the QUBE holders purchase trending NFTs, they are not just backing promising projects but also own shares in the startups and will benefit from their success.
InQubeta’s ongoing presale has attracted over $13.2 million in investments. QUBE sells for a DeFi coin price of $0.028, with perks for early backers and an expected price increase to $0.0308 by its upcoming listing. There are already over 958 million QUBE tokens in circulation, adding to the attention the project’s progress is receiving in the decentralized cryptocurrency list.
InQubeta’s burn mechanism helps encourage users to hold their tokens for a long time and watch their investments grow. To this end, QUBE has a fixed maximum supply, a 5% tax allotted to a rewards pool, and a 2% transaction tax, creating deflationary conditions that could appreciate its token value over time. This emerging crypto also functions as a governance token to empower its investors and ensure that the needs of its community get prioritized.
Bitcoin (BTC): Analyst Predicts Downside Risk For The Flagship Crypto
Rekt Capital has explained to his 71,300 YouTube subscribers the correction Bitcoin is experiencing ahead of the halving scheduled for April 22. The pre-halving retrace began around 30 days before the halving, so the analyst says we are in the thick of the danger zone. He suggests that any volatility around this danger zone, $65,000- $73,800, is within historical halving norms. Bitcoin is trading around $69k, approximately 7% down from its ATH (all-time high).
BTC underwent a severe 40% correction in the 2016 pre-halving period, and a 40% pullback from the current ATH would see Bitcoin’s price fall to about $45,000. According to Rekt Capital, such a pattern will not repeat, and the lowest level BTC could fall during this cycle is around $57,500, which is a drop of 20% to 22%.
Solana (SOL): Dex Trades Decline Amid Operational Capacity Challenge
Solana‘s recent ascent as a favored blockchain for new Solana-based meme coins brought an uptick in network activity, but not without drawbacks. Lately, there has been a spike in failed transactions, a concern for users and developers. After attaining a peak of 8.5 million DEX transactions on March 30, SOL’s activity reduced to 5.6 million by April 4, indicating possible operational limits and growing user frustration.
The Average Directional Index (ADX) on Solana now reads 36, rising from 9, indicating a growing downward trend and possibly further price drops. Its DeFi coin price has dropped by about 9% in a week and is at a crucial juncture. If the trend continues, SOL could see its $167 support level tested, potentially dropping lower. If Solana effectively addresses its challenges, it could aim for the $200 mark as market sentiment improves.
Conclusion
Bitcoin has been on a correction lately, but with a little less than two weeks remaining before its halving event, individuals are optimistic that the crypto will see an uptrend bullish retracement. SOL‘s price is under the microscope, with declining DEX trades and a robust ADX reading painting a bearish picture. InQubeta, the AI crypto is turning heads as analysts await its next big move.
Based on the tangible fundamentals of this emerging crypto, its native QUBE token has tangible utility, which has made its demand high, with only about 7% of the tokens allocated for the presale left before the per-token price goes up as the token launches.
*This article was paid for. Cryptonomist did not write the article or test the platform.
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