JPMorgan credits Ethereum for Crypto boost; Whales favoring this new AI Altcoin over Solana
Analysts at global investment bank JPMorgan have noted three primary catalysts for the crypto boost, naming Ethereum (ETH) as a significant reason for the surge in crypto retail interest. The altcoin’s contributions are highlighted by two impending yet substantial developments within its ecosystem: the Dencun upgrade and the prospective approval of spot Ethereum ETFs. Whale interest in the new AI altcoin InQubeta (QUBE) rises as market sentiment for Solana (SOL) drops.
With a promising price entry and a prevalent recommended presale, InQubeta is attracting institutional investors. This gem coin merges the blockchain and artificial intelligence industries, guaranteeing a unique and revolutionary crowdfunding model. This article explores Ethereum’s role in the crypto boom and the rising whale interest in the Solana competitor.
InQubeta (QUBE): Attracting Whales with NFT-backed features
InQubeta is a top-rated AI token on the decentralized cryptocurrency list with impressive features that attract investors to the platform. This ICO offers a crowdfunding model backed by non-fungible tokens (NFTs), ensuring all willing participants can hold equity in AI tech startups without needing a considerable budget. Equity in these startups is minted into trending NFTs that are fractionated, allowing investors to own blocks in different projects, thereby diversifying their portfolios and reaping immense rewards from the growth of these startups.
InQubeta is set to clear the eighth stage of its recommended presale as more whales gain interest in the token. Less than 9% of this stage is left, selling at $0.0245 per token, after which the price will increase to $0.028 apiece. The presale has recently hit the $11 million milestone as more tokens are purchased daily and whales buy in bulk. Over 861 million QUBE tokens have been sold, with investors looking to claim substantial returns upon launch.
This blockchain ICO is topping the decentralized cryptocurrency list with a deflationary token burn model that aims to reduce the supply of tokens in circulation, raising demand and market value over time. A buy-and-sell tax imposed on transactions within the platform funds a dedicated pool that rewards users who stake their QUBE tokens, further reducing supply and raising demand. From trading NFTs to offering exciting opportunities for diversified earnings and passive income, InQubeta continues to thrill investors, welcoming whales to purchase its presale at discounted rates.
Ethereum (ETH): Pushing the Crypto market with exciting developments
According to JPMorgan analysts, the Ethereum network is credited with two of the three catalysts that will drive crypto prices over the coming months. The team, led by Nikolaos Panigirtzoglou, a top-rated market strategist, has noted that the revival of retail impulse in February reflects market anticipation for the Bitcoin halving event, the Dencun upgrade, and the possible spot ETH ETF approvals. While the first two catalysts are priced in, the spot ETH ETF approval only has a 50% chance based on their on-chain data analysis.
The major upcoming upgrade for Ethereum, Dencun, is set to be released on March 13th. The upgrade merges Cancun and Deneb, two more minor upgrades on the network. It focuses on the execution and consensus layers of the network to enhance scalability, efficiency, and security while significantly reducing transaction fees on layer 2. The decision regarding the SEC approval for the spot ETH ETFs is expected to be made in May, but skepticism remains as the SEC Chairman has yet to clarify whether Ethereum is a security or a commodity.
Solana (SOL): Continued defiance among top Altcoins
Anticipation for a Solana rally is rising as the token maintains an upward trend, even with expectations of a market reversal for altcoins following recent pullbacks. Its charts indicate a solid bullish trend, as analysts note a series of high lows and higher highs. Following its week-long rally, analysis of the token’s on-chain data predicts a promising trajectory in March, putting SOL within reach of possibly hitting its all-time high of $259.96.
SOL-based products, particularly its decentralized exchanges (DEXes), have witnessed increased user interest. The project’s DEXes have had their most productive week as DeFiLlama’s data, analyzed by AMBCrypto, signified a cumulative volume of $11.24 billion between February 25th and March 2nd. Solana has surpassed all top smart contract blockchains, including Ethereum, with a total value locked (TVL) that surged by 52% in the past month and a 177% weekly growth rate.
Conclusion
The crypto market is rallying, with a boost credited to Ethereum based on on-chain data analyzed by the JPMorgan team. Whale interest in Solana has dwindled as investors turn to other projects with impressive utility and exciting offerings. The AI altcoin is attracting whale investments with its trending NFTs and revolutionary crowdfunding model. Investors anticipate substantial returns upon launch, as the project has proposed a list price of $0.0308, a 340% increase from its initial cost.
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