As Bitcoin (BTC), the leading cryptocurrency, struggles around the $26,000 threshold, established altcoins like XRP, Litecoin (LTC), and Shiba Inu SHIB are also in the red.
Altcoin Feeling the Crypto Winter Chills
Altcoins might not always be recognized as solid assets when cryptocurrency comes to mind, but they are essential to the digital asset world.
They usually support relevant solutions that keep different platforms running in the space. Because of their utility, they can be a good investment option for cryptocurrency investors, which in turn translates to keen observance if their prices dip. The XRP, LTC, and SHIB dips have caused some level of worry.
Ripple’s run-in with the U.S. Securities and Exchange Commission (SEC) is not the only cause for worry for XRP investors in recent times. Mentioned by some as having one of the highest losses among other coins, XRP has seen a dramatic decline in the past few weeks, reportedly leading investors to shift to newer opportunities.
While the project’s recent partial victory over the U.S. SEC in court saw a surge in XRP’s value, many holders’ decision to cash in led to a downward spiral. As a technical indicator predicts a prolonged bear phase for XRP, the Litecoin community is also experiencing rising concerns.
The Litecoin halving event saw widespread anticipation but brought a bearish trend instead of the expected bullish activity. LTC has dipped significantly within a week—as low as 13,24% in a single day and 21.4% in a week.
While one analyst attributes this dip to a “sell the news” situation, where there was an overbuying of its relative strength index (RSI) and a drying buying sentiment in the days leading to its halving event, another analyst anticipates that LTC’s price will attain a record high in the last quarter of the year.
It is yet to be seen if the bulls will help recover the dip, but bridging issues in the Shibarium network might be the reason for SHIB’s slump.
The launch of the layer-2 scaling solution, Shibarium, appears to have met with a rocky start, judging by the following dip in price SHIB encountered.
A move of about 4.7 trillion SHIB to a cold wallet signaled increased activity and accumulation of SHIB by whales, yet the selling pressure remained. This range of behaviors sustains the uncertainty in the market concerning SHIB, but altcoin investors find hope in two altcoins currently in presale stages.
$ROE and QUBE back AI-related projects. The growing focus on AI gives these tokens the added advantage of novelty, but their utility in the digital space makes them more than a passing fantasy token.
While both projects focus on reinventing the finance sector and making funding less tedious, InQubeta (QUBE) focuses on helping AI startups. Borroe $ROE is built with Web3 creators and businesses in mind.
InQubeta solves the funding challenge for AI startups with its QUBE-powered innovative NFT marketplace. In the marketplace, vetoed AI startups mint NFTs as representatives of investment opportunities and list them as fractionalized bits.
Listed as bits, the NFTs can be bought by different investor tiers, so different levels of investors get a piece of the cake in AI startup funding.
InQubeta not only makes it easier for AI startups to get off to a good start without debt, but it also helps beginner investors get their feet wet in the increasingly profitable world of AI.
Currently at the third stage of its presale phase, with over 80% of the tokens sold, $QUBE is selling at $0.0112. Also, on presale is $ROE.
Borroe Finance is reinventing the term “borroeing” for Web3 creators and businesses. The evolution of Web3 is causing confusion among traditional firms, especially in the financial sector. This confusion breeds a barrier for Web3 seeking funding from traditional financiers and stalls the growth and progress of these creators.
In the $ROE-powered ecosystem, creators can take advantage of the instant funding model and convert future recurring revenue into upfront cash. The users can also generate instant cash flow by minting NFT representations of future and outstanding invoices and selling them at a discount in the marketplace.
Presently selling at $0.0125, over 50% of $ROE has sold out at the current first stage of the presale phase.
Between them, these AI cryptos have drawn significant attention from investors. As the crypto world experiences a lack of optimism for quick market recovery and the call to buy the dip fades, some investors look forward to future rewards with tokens like QUBE and $ROE and their prospects.
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