It seems all is not well with one of the world’s most popular cryptocurrencies – Bitcoin. Even as it hovers under $27k, many Bitcoin holders are ready to cut their losses and are actively searching for the best cryptocurrencies to buy in 2023. Amid the shift in loyalties, several crypto users are gravitating towards InQubeta (QUBE) and Litecoin. The LTC coin has carved a niche for itself with its user-friendly features and has been around for quite some time. In contrast, InQubeta’s popularity has surprised many as it was launched just a few months ago. The platform is powered by Ethereum and it helps startups raise funds for their artificial intelligence projects.
InQubeta is now enjoying a spot on every leading analyst’s best cryptocurrency ICO list for the year after its presale funding crossed $3 million. The QUBE project is currently in its fourth stage, and there are price rises for every subsequent stage.
InQubeta: Helping AI startups to fast-track growth
By opting for InQubeta, you won’t have to worry about what cryptos to buy now as it’s a versatile platform that balances functionality with scalability. With InQubeta, AI startups boost their growth and investors can explore promising projects before they are formally launched on the market. The platform has released a native cryptocurrency, called the QUBE token. It is used for all transactional purposes on the InQubeta network. Rated as one of the altcoins to watch out for this year, the QUBE token is also used for giving out rewards to community members.
What stands out about the ERC-20 token is its deflationary model where its supply is controlled to keep it scarce. A scarce token supply minimizes price fluctuations while keeping the asset’s value stable. In case of an imbalance in supply, the additional tokens in circulation are burned or destroyed by sending them to a burn wallet.
An example of how this mechanism works is the tax levied by the platform on the sale and purchase of QUBE tokens. If a QUBE token is bought or sold, both the buyer and seller have to pay a small tax. As the tax proceeds are also in terms of QUBE tokens, such transactions can affect prices and supply. Consequently, the InQubeta team burns a small share of the tax proceeds and ensures that it stays below market demand.
Bitcoin encounters strong resistance even as whales increase holdings
Bitcoin is a leading cryptocurrency. Its has a global user base. The BTC token is used for all kinds of transactional purposes on the network. The cryptocurrency leverages the proof-of-work consensus algorithm for securing its network.
The BTC coin has been trading under the $27k price level recently and has encountered strong resistance even as whales continue to increase holdings in anticipation of approval of upcoming ETFs. Many institutional investors, including Franklin Templeton, have applied for Bitcoin ETFs recently. The price of the BTC token might recover in the long term if the ETF applications are approved.
The total number of Litecoin holders crosses 5 million
Litecoin is a decentralized platform that offers lightning-fast digital payments securely by leveraging the benefits of blockchain technology. Its native cryptocurrency, the LTC token, is used for all transactions in the Litecoin ecosystem.
What many people don’t know is that Litecoin was created as a spin-off of Bitcoin. However, it differs from Bitcoin in terms of its consensus mechanism and block times. Unlike Bitcoin, Litecoin uses Scrypt technology to secure its network rather than a consensus algorithm. Also, it has a block time of 2.5 minutes. Given the low transaction fees charged by the platform, Litecoin has emerged as a cost-effective alternative for micro-transactions.
The platform recently hit the headlines after the number of Web 3.0 addresses holding the LTC tokens crossed 5 million in 12 months. It almost doubled in comparison to last year. Many institutional investors have expressed an interest in LTC as it has become very popular as a payment mechanism.
Conclusion
As popular altcoins like Bitcoin stagger in the market, innovative DeFi projects like InQubeta are emerging as the new favorites of institutional investors. InQubeta also enjoys an edge in terms of its long-term growth potential. The decentralized platform enables an average crypto user to invest in startups with a small budget and create a steady source of income that could secure their future. Its robust security and deflationary token make sure that both privacy as well as assets are well-guarded.
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Source: https://www.thecoinrepublic.com/2023/09/15/inqubeta-and-litecoin-gain-institutional-traction-as-bitcoin-hovers-under-27k/