The cryptocurrency market has experienced a significant shift as Internet Computer (ICP) surged an impressive 80% in the last seven days, propelling it into the top 20 cryptocurrencies globally. This remarkable ascent saw ICP leapfrog over APT, NEAR, and UNI to claim the 18th spot. As the crypto community watches with bated breath, Internet Computer’s meteoric rise has been nothing short of remarkable.
Meanwhile, a new AI project, InQubeta, has garnered attention by raising nearly $12.5 million in its presale, showcasing the market’s growing interest in innovative blockchain-based solutions.
ICP Price Analysis and Prediction
Following the recent surge, ICP is currently trading around $19.2, a significant climb from its all-time high of approximately $750 set back in May 2021 during the previous bull run. With a market cap of $8.8 billion, ICP has solidified its position as the 18th largest cryptocurrency by market capitalization.
Upon examining the ICP/USDT chart, it becomes evident that after a notable run in late 2023, ICP traded within a sideways channel (represented by blue lines) for three months before finally breaking out with last week’s impressive pump.
The next target for ICP could potentially be around the $23 area, which aligns with the 3.618 Fibonacci extension level. More ambitious traders might set their sights on the $25.98 mark, in line with the 4.236 Fibonacci extension.
It’s worth noting that the Relative Strength Index (RSI) is currently over 70 across all time frames, indicating overbought conditions. Additionally, the 200-day moving average stands at $8.3, while the MACD line is above the MACD signal line, suggesting bullish momentum.
Based on this analysis and the indicators, ICP could continue its upward trajectory, potentially reaching new heights in the coming weeks or months. There is, however, a need for caution, as the RSI indicates a possible pullback before a new upswing occurs.
Crypto Analyst Makes the Case of ICP Being the Next Chainlink
John Tuld, a popular crypto analyst with over 30,000 followers, has drawn comparisons between ICP and Chainlink, making a compelling case for ICP’s potential to follow a similar trajectory to Chainlink’s meteoric rise.
According to Tuld, Internet Computer (ICP) was initially dismissed as unnecessary or a scam, much like Chainlink in its early days. However, as developers and companies began to understand the underlying technology, its value became increasingly apparent.
He likened ICP’s current situation to Chainlink’s in 2019 and 2020, when it was considered a “dead coin” by many, with naysayers claiming that oracles were unnecessary and that Ethereum developers had a solution in the works to make Chainlink obsolete.
Tuld emphasized that major companies eventually took note of Chainlink, prompting developers to dig deeper into the project, engage with the community, and ultimately “see the light” and jump on board, leading to Chainlink’s subsequent success.
In a similar vein, Tuld believes that ICP is “the Chainlink story on steroids.” He admitted to initially dismissing ICP as an FTX pump-and-dump scam in 2021/2022, only to later realize that SBF and his associates had deliberately engineered the pump and subsequent dump to discredit the project, as they feared its superior technology posed a threat to their schemes around Solana.
Tuld argues that people are now recognizing ICP’s advanced features, such as AI on the chain, unhackable security, and chain-key technology that could make oracles for Bitcoin or Ethereum obsolete – and these features are already live on the Internet Computer blockchain or in advanced testing stages.
Echoing the sentiments of many ICP proponents, Tuld believes that “this story is Chainlink in 2019 or Ethereum in 2017, but with the future feature promises ALREADY BUILT.” He finds himself in a similar position to those who invested in Ethereum in early 2017, when the coin surged from $9 to $400 within months, except that with ICP, it’s as if it’s June 2017, and the coin has fallen to $3 due to the misinformation campaign perpetrated by a notorious crypto fraudster.
While not providing investment advice, Tuld encourages crypto investors to take another look at ICP, conduct thorough research, and explore the numerous projects already built on the Internet Computer blockchain, such as OpenChat, a decentralized messaging platform akin to Telegram or Tencent.
InQubeta: A New AI Frontier
Shifting gears, InQubeta (QUBE) has emerged as a pioneering platform that enables users to invest in AI startup projects using cryptocurrency, particularly through NFTs representing ownership in companies. This innovative project connects venture capitalists and crypto in a way, allowing smaller companies to raise funds directly from investors without intermediaries.
By purchasing fractions of NFTs generated by InQubeta, investors can potentially benefit from the success of the underlying startups, making it a potential investment opportunity in the AI technology sector. InQubeta’s NFT marketplace offers a chance to invest in AI technology innovation and support upcoming AI start-ups.
InQubeta’s presale has been remarkably successful, raising almost $12.5 million so far, with 1 QUBE priced at $0.028 USDT. The next stage of the presale will see the price increase to $0.0308, and 926,200,244 QUBE tokens have already been sold.
The platform’s purpose is to revolutionize AI startup investment by creating a decentralized investment ecosystem that enables fractional investment in AI startups using QUBE tokens. This approach aims to democratize AI tech investments by eliminating barriers to entry, allowing a broader range of investors to participate in the high-growth potential of AI startups.
QUBE token holders will have governance rights to propose, discuss, and vote on key decisions for the InQubeta platform, ensuring community input and responsiveness. Additionally, investors can earn rewards by staking QUBE tokens on the platform, encouraging long-term investment in the token, although staking features are still inactive as per InQubeta’s website.
Conclusion
The rise of Internet Computer (ICP) and the emergence of InQubeta highlight the promising nature of the current cryptocurrency market. While ICP’s impressive surge has captured the attention of investors worldwide, InQubeta’s innovative approach to AI startup investment offers an opportunity for those seeking to participate in the growth of this burgeoning sector.
All in all, the crypto landscape is constantly shifting, and projects like ICP and QUBE demonstrate the potential for innovations to attract investors in both established and new projects.
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