Recent Developments in the Crypto Market
Looking back as September wraps up, it did come with its fair share of excitement. A noteworthy development earlier in the month was Ripple moving 75 million $XRP for asset redistribution, creating a stir within the crypto community. In reaction to this event, $XRP remains largely unbothered, maintaining modest traction. On the other hand, InQueta ($QUBE), a new player at the intersection of AI and blockchain technology, has attracted whales’ attention, particularly Bitcoin ($BTC) and BNB ($BNB) whales.
InQubeta ($QUBE): Growing Interest from Bitcoin and BNB Whales
InQubeta has emerged as one of the exciting new DeFi projects to watch in the crypto landscape thanks to its novel concept. Its fascinating blend of blockchain technology and artificial intelligence (AI)—the most disruptive innovations of this century—has created a frenzy. Similarly, by hoping to solve a pain point within the AI industry, it has captured the attention of large-volume investors, including Bitcoin and $BNB whales.
InQubeta, along with its utility token, $QUBE, seeks to reshape the AI industry. It intends to become the world’s first crowdfunding platform for AI startups through cryptocurrency. Via the platform, AI-based startups can raise funds for their projects through the $QUBE token. Thanks to this revolutionary move and innovative use case of crypto, it has attracted retail and large investors. With its adoption imminent, it is the best new crypto to invest in now.
In addition to the above, InQubeta aims to build a mutually beneficial ecosystem, not only for AI startups but also for investors. By introducing NFT technology and a fractional investment model, it hopes to democratize access to the AI market. On the one hand, AI startups can raise funds by minting investment opportunities and representing them as NFTs. On the other hand, investors will be able to purchase fractionalized investment-backed NFTs. Thus, this gives complete access to the profitable AI industry by removing buy limits.
The InQubeta presale is ongoing and currently at stage 4. Its current price is $0.0133, which is shockingly cheap for a project on the verge of adoption. Meanwhile, according to experts, it will experience a 50x surge before the end of 2023.
Ripple Moves 75 Million $XRP Tokens
$XRP is the native crypto token of the Ripple network. It recently experienced token unlocking by Ripple, with the company moving another 75 million $XRP tokens. This is worth over $36 million based on the current valuation. Notably, 58 million of the tokens went to known exchange addresses, which will likely be sold on the crypto market.
It is worth noting that before this move, Ripple had already transferred 100 million $XRP from the 200 million tokens kept after the escrow’s finality. While this appears like intense selling pressure on $XRP, it has managed—to a large extent—to maintain its momentum. Consequently, this resilience makes it a solid crypto to buy.
Interestingly, Ripple’s movement of 75 million $XRP tokens coincided with the New York State Department of Financial Services (NYDFS) elimination of $XRP from its list of approved cryptocurrencies. Additionally, $XRP still has an ongoing lawsuit with the US Securities and Exchange Commission (SEC), adding another layer of uncertainty.
In response to these developments, $XRP has shown resilience, as it could be worse. While currently trading downward, bullish indicators are suggesting an impending rally. Therefore, it represents a top crypto to buy.
Noteworthy developments within the crypto scene include Ripple moving 75 million $XRP tokens and Bitcoin and $BNB whales swarming InQubeta and $QUBE, an AI altcoin. While these events have created a headline, the growing interest in InQubeta has stirred up more excitement. With the token poised for adoption, it is arguably the best crypto to invest in now.