A growing number of cryptocurrency analysts are calling dYdX (ethDYDX) one of the best altcoins to invest in right now as its prices have surged by over 106% in the past year.
However, in an interesting twist, the decentralized exchange’s founder, Antonio Juliano, has some doubts about the current bull run the project is enjoying. He attributes the increase in prices to low trading volume, challenging the idea that dYdX is going through a genuine bull cycle.
While speculation about the cause of dYdX’s price surge continues to intensify, a growing number of seasoned cryptocurrency investors are now leaning toward InQubeta (QUBE) and Cardano (ADA).
InQubeta (QUBE) could be the best NFT crypto in a couple of years as it uses the functionality of its Ethereum-hosted blockchain to create a decentralized way to invest in artificial intelligence (AI). It aims to provide an alternative for people who don’t meet the income requirements many mainstream investment firms have and those who prefer the increased privacy that comes with decentralized finance.
Cardano (ADA) is one of the Ethereum network’s main rivals and its blockchain offers users lower transaction costs and higher processing speeds. ADA prices have increased by over 90% in the past year and it’s once again one of the top crypto coins to invest in.
Best DeFi crypto: InQubeta (QUBE) picks up momentum as presale enters seventh stage
Early backers of the InQubeta project have already increased their investment by over 220% as its presale has raised over $8.2 million as it enters its seventh stage. The project delivers a solution for the billions of people who don’t have access to mainstream investment avenues by creating an alternative way for them to access these opportunities.
Investor interest in the AI space has grown considerably in the last several years, taking investments tied to the industry from $12 billion in 2015 to $120 billion now. The capital coming into the industry is expected to reach $1.5 trillion by 2030.
This positions InQubeta for considerable growth in the coming years as it links investors with AI startups.
Here’s how the new DeFi project’s investment space works:
- AI startups that are approved to fundraise on the ecosystem make ERC20 coins that signify investment opportunities. These non-fungible tokens are split into smaller, more affordable portions through a process called fractionalization
- Coins are added to the ERC 20 token list where investors can research their makers and invest in them by buying their tokens with QUBE
- NFTs are transferred to patrons once deals are finalized and can be resold on the marketplace for QUBE at any time
dYdX founder not sold on its current bull run
Anthonio Juliano, the founder of dYdX believes the recent price increases the project has enjoyed are mainly due to low trading volumes. He points out that a legitimate bull cycle leads to an increase in use, not just higher prices.
That certainly has been the case for projects like Bitcoin (BTC), which has enjoyed price surges along with an increase in trading volume and its market capitalization. Juliano also points to the lack of market-moving products that can invigorate wider adoption. Many in the cryptocurrency space are hoping that will change with the recent approval of the first Bitcoin exchange-traded funds.
Cardano’s (ADA) momentum slows down a bit
Cardano enjoyed substantial growth last year, but things have slowed down a bit in the last month with only 6.79% price increases. The project will likely go on another bull run soon.
Summary
QUBE might be the best new cryptocurrency to invest in right now, while ADA prices will likely grow exponentially in 2024. dYdX might also end up enjoying considerable growth, but QUBE and ADA are much safer investments. QUBE prices could grow as much as 100x this year.
