ARK Invest’s Cathie Wood’s decision to sell Grayscale Bitcoin Trust (GBTC) shares has put Bitcoin into the limelight once again. The company’s decision comes as Bitcoin touched $43,000 and GBTC’s net asset value narrowed.
In other news, the crypto community was intrigued after analysts predicted that Monero (XMR) andInQubeta (QUBE) could potentially grow by 600%.
For InQubeta, the boost comes shortly after its cryptocurrency ICO crossed $7.5 million. The InQubeta presale has attracted many buyers due to its unique use cases. The platform is a decentralized crowdfunding service for startups working with artificial intelligence (AI).
InQubeta: Helping startups create an AI revolution
InQubeta was among the new altcoins rolled out in 2023 but it outperformed its peers with its unique model. The platform has been created to demystify crowdfunding for AI startups and help them connect with investors easily. Crypto users who onboard the platform get to invest in budget-friendly projects that leverage AI.
InQubeta has a native cryptocurrency which is called the QUBE token. The crypto token is used for all transactional purposes on the platform, be it settling payments or collecting taxes.
On InQubeta, all crucial decisions are taken by token holders by putting suggestions or proposals to vote. The community members have voting rights which they can use to express their opinions about the proposed changes.
Another reason why it is a top crypto to invest in is its deflationary model. The feature is a protection against inflation and market volatility which can hamper the token’s returns. Under the model, price fluctuations are minimized by keeping the token supply lower than the demand.
If the supply increases, it is lowered by destroying additional tokens. Even in the case of tax collections, the InQubeta team burns a part of the proceeds to prevent the supply from rising. The team levies a nominal tax on the sale and purchase of QUBE tokens.
To ensure smooth interactions between startups and investors, InQubeta has created a transparent NFT marketplace. The NFTs sold at the portal are tokenized versions of offers submitted by companies. These offers show what rewards investors can get by backing a startup’s project.
These NFTs can be purchased with QUBE tokens and split into smaller assets through fractionalization.
InQubeta is governed through a decentralized governance system where key decisions are taken through a voting process. To participate in the process, token holders get voting rights. By using these privileges, the community members can act in the best interests of the InQubeta ecosystem.
Bitcoin is among the initial cryptocurrencies that were launched in the market. Its strong growth in multiple years made it one of the most profitable assets globally. The proof-of-work network’s native token is BTC.
Any new tokens are created through mining where professional miners operate either as part of a pool or independently.
Bitcoin recently hit the headlines after TP Icap top boss Duncan Trenholme said Bitcoin’s growth has pushed the demand for crypto derivatives.
In a media interaction, Trenholme cited the excitement around spot Bitcoin ETFs and how the CME Group became the largest exchange for Bitcoin futures contracts as reasons behind the development. TP Icap is
considered the largest inter-broker dealer in the world.
Monero’s daily transactions rise to 50k per da
Focussing on the privacy and security of its users, Monero is a new-age cryptocurrency used for making online transactions securely. Its native token is XMR. It leverages technologies like stealth addresses and Ring Confidential transactions to add an extra layer of security for transactions. Also, the sender and receiver’s details are kept anonymous to avoid mistakes.
Monero recently announced that the quantum of daily transactions processed on its network had risen from 25,000 per day to 50,000.
Conclusion
InQubeta, and Monero have made it to the top lists of the best altcoins for 2023. Bitcoin is similarly at the top of most demanded crypto rankings. The hype around them is justified given their strong performance throughout the year.
The three tokens have unique utilities but they also demonstrate the impact that DeFi can drive globally. By using leading technologies and multiple security features, the tokens ensure that one can explore the crypto market securely.
Crypto buyers must carefully research and compare a project with its peers before making an investment decision.
