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While Bitcoin has been on a remarkable rally, surging past the $73,000 mark and setting new all-time highs, some altcoins are just about to reach their local highs. One such altcoin is Arbitrum (ARB), which is yet to show a bullish performance.
Additionally, we will shift our focus to InQubeta (QUBE), a new project in the presale stage which moves forward quickly.
Arbitrum (ARB) price analysis
Despite the bullish momentum witnessed in the broader cryptocurrency market, Arbitrum (ARB) hasn't yet capitalized on the upswing yet. ARB's price has remained relatively flat over the past 30 days, but it may move up after the most recent fees update.
At the time of writing, ARB is trading around $2.06, having experienced a brief dip to $1.94 a few days ago before bouncing back to over $2.2 and subsequently consolidating at current levels. It's worth noting that ARB reached its all-time high of approximately $2.33 in mid-January this year, coinciding with the approval of Bitcoin ETFs and the market's shift towards the Ethereum ecosystem.
An analysis of the ARB/USD chart reveals that ARB has been trading within a sideways channel since late January, fluctuating between the $1.7 and $2.25 range. For ARB's price to continue its uptrend, it needs to break out of this channel, which could potentially lead to a new all-time high shortly after.
The Moving Average Convergence Divergence (MACD) Line is currently below the MACD Signal Line, indicating a potential bearish sentiment in the short term. Additionally, the Relative Strength Index (RSI) across all time frames is hovering between 40 and 45, suggesting a relatively neutral market sentiment.
Moreover, SpotOnChain, a prominent on-chain analytics platform, reported that Wintermute Trading, a crypto market player, accumulated a net amount of 17.08 million ARB (worth $36.3 million) in the past 8 hours.
This accumulation included withdrawals of 19.19 million ARB (worth $40.7 million) from Binance and Coinbase, and deposits of 2.11 million ARB (worth $4.45 million) to OKX and Gate.io. This substantial position enlargement occurred just two days before the upcoming massive unlock of 1.11 billion ARB (worth $2.23 billion), which accounts for 76% of the circulating supply, scheduled for March 16, 2024. Currently, Wintermute Trading holds a total of 29.48 million ARB (worth $61.9 million).
Avalanche (AVAX) price analysis
AVAX has provided its holders with gains of around 30% over the past month. Currently trading around $56, AVAX's price is still a considerable distance away from its all-time high of approximately $134, set during the 2021 bull run.
An examination of the AVAX/USDT chart reveals that AVAX broke out of a descending channel in late January and has been in an uptrend mode ever since.
However, similar to ARB, the MACD Line is below the MACD Signal Line, indicating potential bearish sentiment in the short term. The RSI across all time frames is ranging between 50 and 60, while on a yearly timeframe, it stands at 75, suggesting an overall bullish momentum on the longer-term charts.
AVAX is currently attempting to break above the $60 level, a price point not seen since early 2022. Should it succeed, the next target based on Fibonacci extension levels is $65.54, in line with the 0.786 Fibonacci level. The most ambitious target, derived from Fibonacci levels, is around $125, aligning with the 4.236 Fibonacci level.
Conversely, for AVAX to sustain its uptrend, it needs to protect the psychological $50 level. A breach of this support could potentially trigger a reversal in the bullish momentum.
InQubeta (QUBE) attracts attention
InQubeta is gradually moving forward in their pre sale. The current price for 1 QUBE token is 0.0245 USDT, and the next stage, stage 9, is set at 0.028 USDT.
InQubeta (QUBE) aims to revolutionize the way AI startups raise capital and interact with their communities by leveraging blockchain technology.
The project empowers investors to actively participate in shaping the platform's future through its governance model. By holding the QUBE token, investors can propose ideas, engage in discussions, and vote on important decisions regarding the platform's development and direction, fostering a sense of ownership and collaboration among token holders.
InQubeta introduces a fractional investment model, breaking down the barriers to entry in AI funding. This model allows investors to contribute according to their budget, democratizing access to AI startups. With InQubeta's platform, startups can create reward and equity-based non-fungible tokens (NFTs) representing unique ownership rights and benefits tied to the success of their ventures.
The platform utilizes blockchain technology to create a secure and efficient platform specifically for AI startup funding. It leverages blockchain's immutable ledger, smart contracts, and transparent transactions to ensure trust and accountability throughout the funding process. Investors can support AI startups, knowing their contributions are securely recorded and accessible to all stakeholders.
The QUBE token, an ERC20 token, is the native token of the InQubeta network, facilitating fractional investments and fostering a seamless connection between crypto investors and the AI sector. It is designed with a deflationary model and strategic presale stages, making it a lucrative investment avenue.
Furthermore, InQubeta's platform integrates NFTs and fractionalization, transforming each investment opportunity into a unique non-fungible token. This approach empowers investors of all budget sizes to participate, democratizing access to AI investments. Early backers enjoy the excitement of supporting cutting-edge AI projects and gain access to exclusive benefits.
The platform also introduces an enticing dimension to QUBE token ownership with a 5% sell tax that contributes to a dedicated reward pool. This mechanism enables investors to earn rewards simply by staking their tokens, aligning incentives and fostering long-term commitment from the community.
Conclusion
While Bitcoin's meteoric rise has captured the attention of the cryptocurrency world, altcoins like Arbitrum (ARB) and Avalanche (AVAX) are yet to show their potential. On the other hand, AVAX has rewarded its holders with substantial gains, albeit with potential short-term bearish signals from technical indicators.
Amidst this bull market, InQubeta (QUBE) emerges as a project in the presale stage, offering a approach to AI startup funding and community engagement through blockchain technology. With its fractional investment model, NFT marketplace, and governance mechanisms, InQubeta aims to democratize access to AI and foster collaboration among token holders.
Valeria Blokhina
Tomiwabold Olajide
Gamza Khanzadaev
