Although Bitcoin (BTC) is commanding all the attention with the crypto market expecting the United States Securities and Exchange Commission (SEC) to approve the first batch of spot Bitcoin ETFs in early 2024, some altcoins, including Terra Classic (LUNC) and FTX Token (FTT), have been defying odds, posting double-digit gains in recent days.
While this unfolds, InQubeta (QUBE), a platform that aims to connect crypto startups leveraging artificial intelligence (AI) in their operations, has raised over $5.5 million in their presale.
With this bullish turn of events, investors have been increasingly focusing on LUNC, FTT, and QUBE, hoping to ride the wave.
Terra Classic Revival
Terra Classic, which remains from the then multi-billion dollar Terra ecosystem, rallied this week, adding over 85%. Besides the aggressive token burning and improving crypto sentiment across the board, multiple other factors could have supported LUNC prices.
Although there has been a climb in developer activity over the months, the decision by the community to launch Mint Cash spurred activity. Moreover, Binance launched the TerraClassicUSD (USTC) perpetual contracts.
The Luna Classic Labs also announced the acquisition of $500,000 worth of USTC as part of the project’s treasury reserve policy. Following these developments, LUNC and USTC prices roared higher.
FTX Token Rallying on FTX Relaunch Hope
FTT, the native token of the FTX ecosystem, has also been increasing in the past few trading weeks. Looking at price charts, FTT is up by over 300% from 2022 lows when FTX collapsed.
As of late November 2023, FTT remains on an uptrend following comments by the Securities and Exchange Commission (SEC) chairman that the exchange might be revived – but only if the new owners adhere to applicable laws.
At the same time, Sam Bankman-Fried, the former CEO, was found guilty of all charges in late October and will be sentenced in March 2024.
With hopes of FTX being relaunched and the exchange’s structure overhauled, FTT has been edging higher in recent weeks.
InQubeta Raises Over $5.5 Million In Presale
InQubeta developers aim to release a platform that might spur crypto and AI adoption.
Through its portal, vetted crypto projects will raise funds from the community by issuing non-fungible tokens (NFTs), which can be traded on their marketplace.
Supporters are exploring the project, looking at its value proposition of connecting founders and investors.
QUBE, the platform’s deflationary ERC-20 token, serves as a utility and for governance. Holders can also stake.
In the ongoing presale, the project has sold over 550 million QUBE, raising over $5.5 million. In stage 5 of the presale, each token is trading for 0.0161 USDT, but that will rise to 0.01925 USDT in stage 6.
Conclusion
As the crypto market recovers, FTT and LUNC have been floating higher. Evolving regulations might have supported these two tokens, since efforts made by the new teams have helped revive demand.
Meanwhile, InQubeta is riding the AI wave and tapping into crypto and blockchain to create a platform connecting startup founders and investors. QUBE supporters remain bullish, expecting the token to float higher after listing on exchanges.
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