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The collapsed crypto exchange, FTX, has started its liquidation process to repay creditors. The debtor group in control of the FTX assets recently moved $15 million worth of Solana (SOL) to centralized exchanges like Binance. How will this impact Solana? According to experts, the sale of SOL on this scale will lead to inflation and potentially a decline in its price. So, we might be seeing a dump soon. Meanwhile, InQubeta, a top ICO, is set to skyrocket in the final quarter of 2023, having already raised $4.1 million.
In this article, we will cover the price outlook of Solana and why it is one of the altcoins to watch in the coming months. In addition, we will explore the potential of InQubeta. So, let's dive in.
While Solana awaits a potential dump, InQubeta (QUBE) is gearing up for significant growth in the final quarter of 2023. It is worth mentioning that in its ongoing presale, an impressive $4.1 million has been raised, positioning it as the best ICO (initial coin offering). But what is InQubeta? It is an innovative project that combines artificial intelligence (AI) and blockchain technology.
The project aims to solve a critical issue in the AI sector by leveraging blockchain technology. The challenge is fundraising, and it will solve it by becoming the first crowdfunding platform for AI startups through cryptocurrency. That isn't all. It will leverage NFT technology and a fractional investment model to allow users to invest in AI ventures regardless of their income.
This project is in the fourth stage of its presale and costs only $0.0133 per token. Analysts predict it has significant growth potential, and its value will increase by 4,000% in 2023. This makes it one of the new DeFi projects to look out for in the coming months.
Solana (SOL) is a top ten cryptocurrency by market capitalization. But what role does it play in the crypto space? It provides decentralized finance solutions by allowing the creation of decentralized applications (dApps). What makes it unique in the blockchain space is its hybrid consensus model, which comprises proof-of-stake (PoS) and proof-of-history (PoH).
In recent developments, FTX cold wallet moved $15 million worth of Solana (470,000 SOL) to centralized exchanges. This move came after a US court permitted the collapsed FTX to liquidate assets to repay creditors. So, this means that the transferred Solana will be sold, which will likely cause inflation and impact its price. According to analysts, the crypto community should be expecting a dump.
Despite the possibility of a dip in the price of Solana, it is still on the upside. With this, it has been able to show its status as one of the top crypto coins. While its future price movement is unclear, it is wise to exercise caution while trading SOL.
Analysts expect a dump in the price of Solana because of the possibility of a large volume SOL sale by FTX. Although it is uncertain, time will tell. On the other hand, InQubeta has raised $4.1 million in its presale and is set to increase in value by 4,000% in 2023. This makes it a promising investment and one not to miss out on.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
