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Answered at Oct 15, 2024

Qubic Coin: Exploring Its Potential

Qubic Coin, known by its ticker QUBIC, is a cryptocurrency that operates on its own blockchain. It has been gaining attention due to its unique approach to combining distributed ledger technology with artificial intelligence (AI). This report delves into the potential of Qubic Coin, examining its market performance, technological innovations, and future prospects.

Market Performance

  • Current Market Status: As of October 15, 2024, Qubic has a market capitalization of approximately $168.5 million, ranking it #220 among cryptocurrencies (Coinlore). The coin's circulating supply is 102 trillion, with a total supply of 117 trillion coins.

  • Price Fluctuations: Qubic's price has seen significant volatility. Its all-time high was $0.0000114 on March 3, 2024, while its lowest recorded price was $0.0000014 in September 2024 (Coinlore). Recently, the price has increased by 21.9% from its lowest point.

  • Trading Volume: On October 14, 2024, Qubic topped a one-day trading volume of $1.45 million, although it traded 2.8% lower against the dollar during that period (Tech Dows).

Technological Innovations

  • AI and Blockchain Integration: Qubic is an AI-focused blockchain ecosystem primarily aimed at enhancing the security of the Binance Smart Chain (BSC) ecosystem (Ebizmba). The project is credited with introducing innovative AI research-based development to blockchain technology.

  • Unique Features: Qubic employs a quorum-based computation system, requiring agreement from at least 451 out of 676 Computors to finalize transactions or smart contract executions (U.Today). This ensures reliability and security within the network.

  • Feeless Transfers: Transfers within the Qubic network are feeless, setting it apart from many other platforms. However, executing smart contracts incurs a commission, which is burned to regulate inflation and deflation (U.Today).

Future Prospects

  • Roadmap and Expansion: Qubic has outlined a clear roadmap focusing on developing a vibrant ecosystem for its community, developers, users, and partners (Ebizmba). The recent listing on MEXC and other exchanges like Gate.io and Ascendex is part of its ecosystem expansion strategy.

  • Price Predictions: Analysts have predicted a potential 1000x rise in Qubic's value during an anticipated altcoin season (Crypto.News). However, long-term forecasts suggest a more moderate growth, with prices expected to reach $0.0000022037671 by 2029 (3Commas).

  • Investment Considerations: While Qubic presents promising technological and financial prospects, potential investors should consider the inherent risks of cryptocurrency trading. The market's volatility and the project's reliance on technological advancements are crucial factors to evaluate.

Qubic Coin stands out in the cryptocurrency landscape due to its innovative integration of AI and blockchain technology. Its recent market performance and strategic roadmap suggest potential for growth, although investors should remain cautious of market volatility and technological dependencies.