Key Takeaways:
The native cryptocurrency of Layer-1, open-source blockchain Qubic (QUBIC) has experienced a 21% surge over the past 24 hours as analysts are increasingly optimistic about the token projecting a potential 1000x growth during the highly-anticipated upcoming altcoin season.
QUBIC has increased nearly 60% in value in the last seven days while achieving a 24-hour trading volume of $3.39 million. According to CoinMarketCap, the token’s market capitalization currently stands at $616.33 million.
AI-Focused Crypto Project Qubic Forecasted to Grow 1000x During Altcoin Season
Qubic is a community-centric, open-source blockchain protocol that is focused on developing artificial intelligence (AI) infrastructure through a decentralized network of participants. The project introduces novel concepts like Useful-Proof-of-Work (uPoW) and the Quorum consensus mechanism to empower global innovation in AI.
The blockchain is centered around an advanced AI system called Aigarth, which uses billions of neural networks to replicate the intelligence of the human brain.
What makes Qubic stand out from the rest of the market is its unique approach to Initial Public Offerings (ICOs), where investment in blockchain technology is democratized, allowing users to invest in smart contracts and earn passive income directly from the network.
Recently, Qubic integrated its Layer-2 scaling solution Algarth, which they claim has reached a level of intelligence comparable to humans. The blockchain also introduced a feeless system with a token burn mechanism to protect the value of QUBIC from inflation.
Several analysts anticipate the cryptocurrency’s value to increase by a staggering 1000x, which could propel it to an estimated $350,000 per billion QUBIC, or simply put, $0.00035 per token.
Partnerships With HSBC and Microsoft Increase Qubic’s Credibility and Chances for Further Surge
Qubic’s latest surge also comes amid prominent crypto trader Braver Crypto expressing an optimistic view on the token. In a post made on May 6th, he highlighted QUBIC’s remarkable growth performance over the past seven months, when its market capitalization stood at just $18 million.
Braver Crypto also elaborated on positive developments taking place on the Qubic network that might have also had a helping hand in the remarkable surge. He expects the altcoin market to become bullish soon, at which point QUBIC stands to be one of its biggest beneficiaries.
Furthermore, QUBIC is slated for release on the cryptocurrency exchange Gate.io, with plans being made for listings on other exchanges as well. Qubic also introduced a decentralized exchange called QX where the first meme token deployed on the blockchain, CFB, was announced.
There are also partnerships and integrations at play that could drive QUBIC’s value to new-found heights. Recently, the project was listed on the blockchain-based advertising platform XCHNG while announcing collaborations with major corporations like Microsoft and HSBC.
Braver Crypto concluded his forecast by predicting a 2,000x return on investment from the initial $350 per billion buy-in before the end of the current bull market.
At the time of writing, QUBIC is trading at $0.000000007563 – down 1.3% in the last 24 hours.
The token is on a positive price momentum after having risen over 15% over the previous 30 days.
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