Bitcoin Halving’s Impact on Network Security, Monero Competitor Anticipates Surge
In Brief
Analysts are concerned about the impact of Bitcoin’s upcoming halving on its network security. Reduced revenue for miners threatens to lower the hash rate and potentially increase the network’s vulnerability, causing slower processing times. Monero is facing a decline and falling short of investor expectations. InQubeta is set to deliver generational wealth with its low price entry
Bitcoin (BTC) has declined by nearly 7% over the past week after failing to hold its $70,000 position, yet it has bounced back to $71,000 as of 8th April 2024. This significant drop has caused the sentiment for the broader cryptocurrency market to drop equally, with several top altcoins facing up to 10% losses. As this narrative unfolds, questions regarding the BTC halving event are surfacing as analysts ponder its effect on the network’s security.
While top altcoins face this recent turn of events, InQubeta (QUBE), a trending AI blockchain ICO, continues its presale journey and draws investor attention. This token, which has been termed Monero’s (XMR) competitor, is set to deliver a rewarding rally that has caused high anticipation among investors. This article explores the features heralding the upcoming surge of the Monero competitor and the possible impact of BTC’s halving on network security.
InQubeta (QUBE): Expectations For Token Surge Rises
Expectations for a price rally soar as InQubeta, the new and trending AI blockchain ICO, progresses with its public sale. This project offers a unique investment opportunity, positioning itself at the center of the blockchain and artificial intelligence industries. Using non-fungible tokens (NFTs), InQubeta allows users to purchase equity in AI tech startups, offering them the potential to earn from their growth and positioning them for generational wealth.
The platform’s recommended presale has raised over $13 million and sold over 950 million. These tokens grant users access to the platform and purchasing power to acquire NFTs representing equity in these companies. Aside from benefiting from the possibility of diversifying their portfolios, investors can also enjoy rewards from a staking protocol when they stake their tokens.
QUBE is in the last of its ten presale stages and sells at $0.028. The earliest investors who purchased tokens in the beta stage at $0.007 have gained a 300% return even before the token launches. The proposed ROI for the entire presale is 340% and is set to be claimed after the token launches at $0.0308. With less than 9% of this recommended presale remaining, anticipation for this surge is high.
Bitcoin (BTC): Network Security Threatened
The upcoming Bitcoin halving event is set to occur this month, dropping the block reward for miners to 3.125 BTC from 6.25 BTC. Analysts are skeptical about what this could mean for the token post-halving. For starters, miners could power down less efficient mining machines, leading to reduced hash rates (computational power) and potential security risks. Despite the previous halving events having minimal impact on the Bitcoin network’s security, analysts foresee up to 51% of the protocol’s hashing power becoming vulnerable to attacks.
BTC triggered a bullish momentum for most altcoins in the crypto market when it crossed the $73k mark last month, recording a new all-time high. The token has since crashed by 17%, falling past expectations of the predicted rally. Unless the token’s value or transaction fees increase to compensate miners for their efforts, smaller miners could begin to feel the pinch of the reduction in the block reward, which is typically an incentive for work. A 51% attack could lead to one actor potentially seizing control over the hash rate majority and manipulating the Bitcoin chain.
Monero (XMR): True Fungibility on The Blockchain
The privacy champion, Monero, launched in 2014, has maintained a strong fan base due to its unique positioning as one of the top altcoins on the DeFi crypto list. This network offers key features that separate it from other projects. Investors are constantly seeking the anonymity and low transaction fees the network provides. Additionally, XMR ensures true fungibility, ensuring all units of transactions are identical and untraceable.
Monero began a bullish uptrend in early February, surging to $150. The token has since declined by over 12% and is now fluttering around the $127 level. This falls contrary to investor expectations, as several expected the token to continue its upward trajectory. Many attribute this decline to the largest crypto exchange, Binance, delisting XMR in February. The token is still over 57% less than its ATH of $517, and analysts predict a potential surge with its recent upgrades.
Conclusion
Analysts are concerned about the impact of Bitcoin’s upcoming halving on its network security. Reduced revenue for miners threatens to lower the hash rate and potentially increase the network’s vulnerability, causing slower processing times. Monero is facing a decline and falling short of investor expectations. InQubeta is set to deliver generational wealth with its low price entry. The presale is closing, but investors who get in now can still gain a 10% ROI before its listing.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
