Following the Bitcoin (BTC) halving event on Friday which reduced miner rewards by 50%, the flagship crypto only saw slight gains. This subdued movement follows an ATH (all-time high) record set in March, driven by the anticipation of this halving and launch of spot Bitcoin exchange-traded funds (ETFs). The initial high expectations that the coin’s value will skyrocket with the halving do not seem to be coming into play, and many now wonder if BTC will enter a bearish market condition.
In a more exciting development, InQubeta’s (QUBE) early funding phase finally ended with a staggering $13.6 million raised, listings on two top exchanges, and almost overtaking the Akash Network (AKT). This success is courtesy of its bullish narrative as an AI (artificial intelligence) coin and investors’ confidence in its potential, so for those who got in early, congratulations—WAGMI. This read explores the proposition that could result in InQubeta dethroning the Akash Network.
Another Exciting Phase Begins For InQubeta (QUBE)
InQubeta is now officially listed on a decentralized and centralized exchange: Uniswap and MEXC. In line with the vesting schedule, the QUBE tokens airdrop – a safe distribution method without the burden of gas fees, is scheduled to begin on May 14th, and investors are very excited. To ensure a hassle-free distribution process, investors are advised to ensure their wallet is ERC20-compliant, fully under their control and not an exchange wallet address.
InQubeta’s innovative approach and significant profit potential are two key drivers of the huge initial funding turnout. When the project started, QUBE was worth $0.007 but shot up to a DeFi coin price of $0.0308 just before it went live. This 340% growth turned the heads of crypto enthusiasts as it also earned a funding milestone of $13.6 million.
This project intends to reshape the AI sector’s fundraising landscape by introducing the world’s first crypto-based crowdfunding platform for AI tech startups. Due to this and its enticing investment models, InQubeta has gained widespread recognition in the decentralized finance coin list. The QUBE token is deflationary, with its supply gradually reduced through mechanisms like token burning or redistribution, designed to create a sustainable ecosystem.
This AI project, built on the Ethereum (ETH) blockchain, aims to enable AI startups to raise funds and democratize their investments. Developers in the AI space can get seed funds by offering stakes in their projects and minting them as non-fungible tokens (NFTs). These tokenized investment opportunities will be fractionalized and listed on the NFT marketplace, enabling investors to engage based on their financial capacity.
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Bitcoin (BTC) Price Remains Relatively The Same After Halving
Bitcoin halving, a highly anticipated event in the crypto market in 2024, has finally come and gone. Contrary to some earlier bullish expectations and analysis that, post-halving, Bitcoin will explode and possibly reach another ATH this May, trading charts show that the crypto has seen about a 1.4% increase to around $66,000. Historically, Bitcoin’s most substantial gains have materialized months after halving events, according to BeInCrypto, suggesting potential future growth.
Analysis shows that BTC’s recovery process has reached the 20-day exponential moving average (EMA), an important level to watch. If its current DeFi coin price turns sharply from the moving averages, it will signal that bears are selling on rallies. That could result in a retest of the $60,775 to $59,600 support zone.
Blockchain Cloud Computing Made Easier With Akash Network (AKT)
Akash Network offers an open-source marketplace for cloud services. The project enhances efficiency, speed, and affordability while improving the utilization of cloud computing services. The Akash Network platform’s flexibility stretches to healthcare data management and security.
AKT’s price reached an intra-year high of $6.2 in March but failed to protect its key support levels. The crypto now trades around $4 showing losses in its daily chart, culminating in a decline of over 23% in the past 30 days. If AKT can reclaim the $4.1 level, it will record gains this week, with a potential recovery looming if a positive momentum continues.
Conclusion
Bitcoin’s technical indicators highlight the need for buyers to re-enter the market to defend its current EMA zone with all their might because a breakdown could accelerate bearish selling. Meanwhile, InQubeta, an emerging AKT rival, is preparing to shake up the crypto market as it is now live on major exchanges. The project offers enticing investment structures, a rewarding NFT marketplace and is unveiling more plans from its ambitious roadmap as it grows.
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