Solana (SOL)’s Meteoric Rise; Investor Enthusiasm Grows for Eos (EOS) & InQubeta (QUBE)
In Brief
Apart from Solana, InQubeta (QUBE) and Eos (EOS) are the other best altcoins for 2023. These two tokens stoked investor interest after their continuous price rallies.
The world’s going to remember December 2023 as the time when Solana (SOL) conquered the crypto market with its stellar gains. The cryptocurrency’s massive growth has prompted many analysts to suggest that it will continue this momentum in 2024 as well.
Apart from Solana, InQubeta (QUBE) and Eos (EOS) are the other best altcoins for 2023. These two tokens stoked investor interest after their continuous price rallies. Between Eos and InQubeta, the latter is a more recent project which makes its rise all the more impressive.
Built on Ethereum, InQubeta helps startups connect with investors for their artificial intelligence-driven projects. By creating a customized DeFi solution for startups, InQubeta has laid the foundation of a revolution in AI. Its cryptocurrency ICO has already raised over $7.6 million.
InQubeta: A trove of opportunities for AI startups
InQubeta can usher in a new era of empowered AI startups who don’t have to hit pause on projects due to a fund crunch. The platform has released a native token called the QUBE token and it’s used for all kinds of payments.
The QUBE token is dubbed the top crypto to invest in because of its deflationary mechanism. The main aim of this feature is to protect the asset’s returns from inflation. The returns are shielded by controlling the token supply. Whenever inflation is high, the token supply is reduced.
As the asset’s demand rises above the supply, the token price stays stable. With no price fluctuation even when inflation is high, the token’s market value is not affected. If the supply does rise, it’s reduced by destroying all excess tokens in circulation.
Given how the blockchain sector is constantly evolving, the InQubeta protocol would need to keep up with the times. To solve the problem, InQubeta follows the decentralized autonomous organizations (DAO) model where all key decisions are made by token holders. For this purpose, they get special voting privileges.
Every time a protocol change is floated, token holders are invited to vote for it. Depending on how the community feels about the proposal, they take a final call on its implementation.
InQubeta facilitates interactions between startups and investors through an online marketplace. In this portal, investors can fund a startup’s project by buying its corresponding NFT. These NFTs are minted from offers submitted by the applicants and represent what rewards the buyer is eligible for.
A crypto user can purchase a fraction of the NFT as it can be fractionalized. Once the payment is made in terms of QUBE tokens, the amount is transferred to the startup.
Binance adds new Solana trading pair
Solana is a developer’s paradise as it offers a wide array of tools for creating Web 3.0 solutions. These tools can be used for deploying dApps, crypto assets, and blockchains that are both scalable and secure. Its native token SOL is the medium of exchange of the network. All SOL transactions are validated by the proof-of-stake consensus algorithm.
In a recent development, leading decentralized exchange Binance announced new trading pairs for Solana and other cryptocurrencies. Binance users will now be able to trade the SOL/USDC pair on the exchange
Zeepr now live on Eos EVM
Eos is an open-source blockchain where developers can find unparalleled freedom to create cutting-edge solutions. Its tools can be used to build powerful dApps on the Eos blockchain that are compatible with Solidity environments. Its native token is EOS.
Eos was recently in the news after Zeepr Labs announced that its trading protocol Zeepr would now be live on the blockchain network’s virtual machine – Eos EVM. The move would allow Zeepr users to trade while using the Eos token as collateral.
It would also ensure that users of both platforms can try their hand at open perpetual positions of leading assets.
Conclusion
As per experts, InQubeta, Eos, and Solana will provide stiff competition to new altcoins in 2024. These three tokens have proved their mettle with their powerful performance.
These ecosystems endorse a highly decentralized model that’s easy to use and encourages user participation. As token holders are incentivized to participate in their management, users tend to act in the best interests of the platforms.
Crypto buyers must evaluate a project and compare it with its peers before accumulating huge quantities.
Disclaimer
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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.
