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The neck-to-neck competition between Bitcoin (BTC) and Ethereum (ETH) is nothing new. In 2023, there were a few occasions when Ethereum outpaced Bitcoin but in the end, the latter won the race.
However, analysts suggest that all this is going to change in 2024 and Ethereum will be outshining Bitcoin. Bitwise has claimed that Ethereum can potentially earn 2.5 times its current revenue in 2024.
In other news from the cryptoverse, Algorand (ALGO) and InQubeta (QUBE) are among the altcoins that are poised to perform well in 2024. While Algorand is an open-source blockchain for creating dApps, InQubeta is an Ethereum-based blockchain for raising funds for AI projects.
Shortly after its launch, InQubeta found its way to analysts’ best cryptocurrency ICO lists and is being praised for simplifying DeFi solutions for startups. Its ICO has so far raised $8.1 million.
InQubeta: DeFi boost for AI startups
InQubeta is a decentralized facility that reduces the problems startups face while raising funds. Using blockchain, the platform makes the job easier and more transparent. Its native cryptocurrency, the QUBE token, is used for all payments or any other transactional purpose within the network.
The QUBE token has been considered one of the altcoins to watch out for as it offers users multiple ways to earn passive income. One of these ways is through staking which allows crypto users to earn a passive income.
A staked token is locked in the liquidity pool and contributes to the platform’s development. The token owner earns rewards for as long as the token is staked. These rewards are distributed from a separate pool that’s maintained by tax proceeds.
By opting for the QUBE token, you no longer have to worry about what cryptos to buy now. The token also protects your portfolio’s returns when inflation is high. The token’s deflationary model controls the supply during inflation to ensure competitive prices.
By burning any extra tokens in circulation, the model keeps the supply lower than demand and minimizes price fluctuations.
The startups that join InQubeta are selected after a screening process that checks how well they fit within InQubeta’s vision.
The InQubeta team has created a user-friendly NFT marketplace where startups and investors connect. The NFTs available on the portal are tokenized versions of the offers submitted by the startups. These NFTs represent the investment opportunity and the reward accruing from it. These NFTs can be bought in fractions too.
Over the years, the InQubeta team plans on adding new features to the platform among other initiatives. Its plans include listing the QUBE token on exchanges and launching a staking dApp.
Algorand announces NFT rewards programme
Algorand is an open-source blockchain offering developer-friendly tools. All payments made on the platform are in terms of the ALGO token. These transactions are confirmed with the help of the proof-of-stake consensus protocol.
Its recent market gains have put it among top altcoins and analysts are predicting a bull rally for the ALGO token. Going by the recent market patterns, these experts suggest that the ALGO token could soon fetch potentially higher profits for its holders.
The blockchain recently announced that its NFT Rewards program was back and this time it will be distributing 650,000 ALGO tokens. These tokens will be divided between five NFT marketplaces: Gems, ALGOxNFT, EXA Market, RAND, and Shufl. The program aims to promote NFT sales on the blockchain and encourage developers to create new solutions.
TVL on Ethereum Layer 2 networks reaches $21.1 billion
Ethereum (ETH) is a popular blockchain that can be used for creating an array of decentralized tools like dApps, NFTs, cryptocurrencies, and scaling solutions. Its native token ETH is among the most widely traded crypto assets.
2023 turned out to be a good year for Ethereum with factors like the popularity of spot Ether ETFs extending its gains. The year also saw Ethereum surpassing Bitcoin a few times. Analysts monitoring its movement have suggested that it is likely to outperform Bitcoin in 2024. In the wake of the current bullish rally, they believe that it might be a good time to accumulate ETH tokens.
In a recent development, Ethereum Layer-2 networks achieved a new milestone after their total volume locked hit $21.16 billion in January. Based on the data compiled by L2BEAT, the figure reflects an increase of 340% compared to the same day in 2023.
Conclusion
As per many analysts, Ethereum, Algorand, and InQubeta are among the best cryptocurrencies to buy today. These three tokens have proved their mettle by powering through even when the market conditions were not ideal.
Supported by strong code architecture and cutting-edge features, they leverage blockchain to make DeFi less puzzling and more profitable. Their robust security frameworks have the stamp of approval of leading blockchain audit companies.
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Source: https://finbold.com/ethereums-bid-to-outshine-bitcoin-in-2024-algorand-inqubeta-poised-for-upswing/