2023-11-06 10:12

Copyrighted Image by: Reuters. InQubeta (QUBE), an AI altcoin, is making waves in the cryptocurrency market as it enters its fourth presale stage. The Ethereum-based platform is projected to witness a 20x growth or approximately 3,000% rally by the end of 2023. This comes as Bitcoin, the dominant cryptocurrency, edges towards the $100K mark. On Sunday, InQubeta raised $4.2 million at $0.0133 per token in its presale. The platform stands out with its innovative combination of AI and blockchain technology, aiming to democratize AI investments. Its unique blockchain technology introduces a fractional investment system and an NFT marketplace where equity in AI startups is represented as NFTs. The QUBE token serves as a governance tool within the platform, providing token holders with decision-making power. The platform employs a deflationary model to control QUBE token supply, balancing demand and curbing price volatility. If the supply surpasses a certain limit, excess tokens are eliminated via token burning. A portion of transaction tax proceeds are also burned to prevent sudden supply increases, while the remainder supports the rewards pool and marketing initiatives. Meanwhile, Ripple's price has surged beyond $0.60, stirring predictions of it potentially breaching the $1 mark. Ripple uses XRP Ledger technology to provide blockchain solutions for businesses and financial institutions. It has established strategic partnerships for user base expansion, including a recent collaboration with Dubai's MBank and LuLu Exchange, Ripple's ODL partner in UAE, promoting efficient cross-border transactions. Both Ripple and InQubeta present promising DeFi investment opportunities. While Ripple is promoting blockchain adoption for business growth, InQubeta is empowering startups and crypto users to contribute to the AI revolution. https://www.investing.com/news/cryptocurrency-news/inqubetas-ai-altcoin-gains-traction-bitcoin-nears-100k-93CH-3222836

2023-11-06 10:10

Copyrighted Image by: Reuters. Bitcoin's operating system, which employs a halving mechanism every four years to ensure stability and scarcity, is set to reduce new Bitcoin production in 2024. Currently, miners receive a block reward of 6.25 bitcoins per block, but this is projected to fall to 3.125 bitcoins after every 210,000 blocks are mined, representing a decrease in the supply of new coins. This mechanism aims to curb inflation and foster scarcity by capping the total number of Bitcoins at 21 million. The anticipation of the halving event has been associated with an increase in demand for Bitcoin as obtaining the cryptocurrency becomes more challenging. This heightened demand has historically led to price surges, like those seen in 2012 and 2017 when prices reached $1,000 and $20,000 respectively due to supply-demand dynamics. On Monday, market optimism was evident as Bitcoin's hash rate reached an all-time high of 251.79 EH/s, indicating enhanced network security and intensified Bitcoin mining conditions. Analysts interpret this escalated hash rate as tangible evidence of surging Bitcoin demand that could potentially elevate prices. Despite Bitcoin's inherent price volatility, key market indicators such as support and resistance levels identified at $20,000, $25,000, and $30,000 respectively provide insight into potential investment scenarios and signals of market rebound. These halving events are often associated with bull runs, reducing selling pressure among miners and significantly appreciating prices. The final Bitcoin is anticipated to be mined in 2140. Until then, platforms like Bitcoin Revolution and Trader AI continue to facilitate investment in this cryptocurrency. Each Bitcoin can be split into 100 million Satoshis, further enabling participation in the Bitcoin economy. https://www.investing.com/news/cryptocurrency-news/bitcoin-hash-rate-hits-record-high-as-halving-event-looms-93CH-3222828

2023-11-06 10:06

The Shiba Inu (SHIB) cryptocurrency is showing promising signs of growth with a divergence of 0.88% from Bitcoin's downturn, according to observations made on Reddit. The trading volume has seen a significant 71% surge to $193,840,004 within a day, driven by whale action and a burn rate acting as an anchor with 1.3 million SHIB tokens burnt. The smooth functioning of Shibarium, with its potential for decentralized applications, is also contributing to this performance. Despite experiencing a dip to $0.00000781 following its peak at $0.000008 in October, the upcoming Shib name service and a movement of 4.46 trillion SHIB tokens suggest potential growth for the cryptocurrency. Reddit users predict a price of $0.00000878 for SHIB in 2023. In other cryptocurrency news, TRON's partnership with Tangem AG has led to the creation of a TRON-themed hardware wallet. The release of 1,000 such wallets aims to enhance user experience and adoption. Despite a minor dip from its peak at $0.100858, Reddit users anticipate a bright future for TRON. Everlodge (ELDG) is also making strides in the market with its sixth presale stage of the ELDG token at $0.023. Everlodge aims to democratize real estate investment via NFTs and blockchain technology, providing passive income through property tokenization. With its target market worth over $280 trillion, Reddit predicts a rise to $0.038 by the end of the presale. https://www.investing.com/news/cryptocurrency-news/shiba-inu-tron-and-everlodge-see-potential-growth-amidst-market-fluctuations-93CH-3222816

2023-11-06 09:52

Copyrighted Image by: Reuters In the midst of turbulence in the cryptocurrency market, Tether's CEO Paolo Ardoino has highlighted the firm's solid performance and the use of its stablecoin, USDT, as a hedge against inflation. Speaking on the Wolf of All Streets Podcast, Ardoino underscored Tether's impressive earnings and its $85 billion market cap. Tether, which maintains a one-to-one value with the U.S. dollar, generated $700 million in Q4 2022 despite black swan events and high-profile bankruptcies in the web3 space. The company's capital is derived from holding U.S. treasuries and short-term investments with risk management, which includes $72.6 billion in U.S. treasury bills. Tether continues to cooperate with law enforcement agencies. The demand for stablecoins is on the rise, particularly in developing nations. This comes as the U.S. House Financial Services Committee advanced a bill on July 27 for a federal regulatory framework for stablecoins. The proposed legislation tasks the Federal Reserve with outlining issuing conditions while preserving state authorities' regulatory power. Despite these developments and the conviction of FTX founder Sam Bankman-Fried for embezzling over $10 billion, momentum for clear crypto regulation remains weak. Last year's significant downturns in cryptocurrencies and multiple bankruptcies have prompted Congress to explore regulatory strategies. Nevertheless, progress has been slow due to geopolitical tensions, inflation concerns, and the upcoming 2024 election. In response to these challenges, President Joe Biden issued an executive order last year regarding government supervision of cryptocurrency and assessing the potential creation of a digital currency. As the landscape continues to shift, Tether's stablecoin appears to be weathering the storm with resilience. https://www.investing.com/news/cryptocurrency-news/tethers-stablecoin-performance-remains-strong-amidst-crypto-volatility-93CH-3222797

2023-11-06 09:50

XRP, a digital asset in the cryptocurrency market, has seen a significant surge of 9% to $0.68, bringing it close to surpassing Binance Coin's (BNB) market cap of $36.5 billion. This recent increase marks XRP's highest level since August 2nd, though it still falls short of its yearly high of $0.93. The digital asset's performance comes after Ripple Labs' successful legal battle against the SEC, which has seemingly boosted investor confidence and sparked a positive shift in the narrative around XRP. The court ruling has provided much-needed legal clarity in the unpredictable cryptocurrency market. Despite hitting a mid-August low point of $0.42, XRP has made a remarkable rebound by nearly 60%. This significant recovery has outpaced other top cryptocurrencies including Bitcoin, Ethereum, and even BNB which only saw a 7.6% gain. This indicates a potential shift in rankings among the top 10 cryptocurrencies. Large-scale investors or 'whales' have shown growing confidence in XRP, with wallets holding between 100k to 1 billion XRP at their highest level since earlier this year, according to data from Santiment. This surge in investor confidence coincided with a major transfer of 23.8 million XRP (over $15.6 million) to the Bitstamp exchange, as reported by Whale Alert. The improved performance and increased investor confidence suggest a promising future for XRP amidst the volatile cryptocurrency market landscape. As the narrative around XRP continues to turn increasingly positive following the legal clarity provided by the court ruling, it remains to be seen how these developments will shape the cryptocurrency's trajectory moving forward. https://www.investing.com/news/cryptocurrency-news/xrp-nears-bnbs-market-cap-following-9-surge-and-legal-clarity-93CH-3222796

2023-11-06 09:28

In a welcome rebound following a slump in October, the week from Sunday, October 29 to Saturday, November 5, 2023, saw NFT sales surge by 18.30% to reach $106.32 million. Ethereum's NFT sales led this resurgence, reaching $60.91 million, marking an increase of 8.55%. Bitcoin's NFTs weren't far behind, recording an impressive rise of 154.75% to reach $13.17 million in sales. The top five blockchains for NFT sales were rounded off by Solana and Mythos with sales of $8.53 million and $7.46 million respectively, and Immutable X with sales of $5.69 million. The Bored Ape Yacht Club (BAYC) emerged as the leader among top-selling collections with a total of $10.79 million in sales. Following closely were The Captainz and Dmarket with sales of $8.54 million and $7.39 million respectively. There was also significant growth seen in Gods Unchained and Bitcoin's BRC20 NFTs which reached $5.42 million and $7.3 million respectively. Alongside this surge in sales, there was a notable increase in the number of NFT buyers and sellers, climbing by 17.77% and 15.82% respectively. Among the notable transactions over the week were BAYC #6022 ($303K), a BRC20 NFT ($56K), “Tigris Position #10505,” ($39K), Emurgo ($32K), and Solana's “Mad Lads #5364” ($31K). Maintaining this upward trend is considered crucial for offsetting the recent slump in the market. https://www.investing.com/news/cryptocurrency-news/nft-sales-rebound-ethereum-and-bitcoin-lead-the-surge-93CH-3222780