The 1inch Investment Fund, associated with the decentralized exchange (DEX) aggregator, 1inch, is doubling down despite prevailing bearish market conditions in decentralized finance (defi). A web3 data analysis tool, Lookonchain, noted that the fund recently bought 6,000 Ethereum (ETH) worth $10 million.
The discovery has made crypto analysts speculate the potential of InQubeta (QUBE) and Cardano (ADA) being the next assets for consideration, given their recent successes and progress.
Because of the ongoing InQubeta presale and tax system set for implementation, its native token, QUBE, is being explored by investors. The platform also intends to reshape the multi-billion-dollar artificial intelligence (AI) and defi spaces.
Let’s delve into the 1inch fund’s acquisition of $10 million worth of ETH and discuss why ADA and QUBE could be potential candidates for similar moves.
InQubeta is leading the line in AI-crypto revolution
InQubeta has raised over $2.5 million and sold more than 310 million QUBE in the first three presale stages. This level of demand could highlight the level of investor interest and, specifically, the project’s approach to AI startup crowdfunding.
InQubeta is spurred by the adoption of QUBE and the innovation it brings to lead the AI-crypto revolution. With this, it could draw the attention of 1inch developers who might, in turn, consider QUBE.
InQubeta’s approach to facilitating the fundraising process of beginner AI companies is known as the fractional investment method. This system allows enthusiasts to become early investors in AI startups, irrespective of their budgets.
AI startups use InQubeta’s non-fungible token (NFT) marketplace. In return, interested investors and collectors can purchase these NFTs, potentially profiting once their value rises.
The deflationary model used for QUBE can also offer long-term profitability to holders and stakers. A 5% sell tax on every transaction is transferred to the reward pool to encourage staking. Meanwhile, a 2% trading tax is allocated to the burn wallet.
1inch Investment Fund acquisition of $10 million worth of ETH
On Jan. 13, Feb. 9, and Mar. 14, 2023, 1inch Investment Fund cumulatively bought 17,000 ETH.
Months later, on July 5, the fund sold 11,000 ETH, earning $3.7 million in profits.
On Aug. 28, Lookonchain’s official Twitter account revealed that 1inch’s most recent transaction was a purchase of 6,088 ETH worth $10 million.
Crypto experts are keeping a close eye on the fund due to its interest in high-growth coins. Given their recent progress and positive developments, experts believe that 1inch may consider exploring QUBE and ADA, as these tokens are gaining prominence in defi.
Cardano launches Mithril on mainnet
In early August, Cardano launched Mithril on the mainnet. The upgrade aims to enhance the network’s efficiency, improve the security of transactions, and further democratize governance.
Ben Armstrong, a controversial crypto Youtuber, is confident, predicting ADA to reach $100. On the other hand, Dan Gambardello, a crypto capital venture founder, also forecasts ADA to rise 10X to $7.8.
Conclusion
1inch’s acquisition of more than 6,000 ETH has prompted analysts to speculate about the possibility of the fund considering QUBE and ADA for future investments.
The InQubeta presale is in progress as the platform aims to eventually innovate AI using NFTs.
QUBE holders can stake their tokens and receive rewards.
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