Bitcoin (BTC) may be trending at around 2023 highs, breaking above key resistance levels.
However, the rise of Celestia (TIA) is noteworthy. TIA, the native token of the scalable network, was launched on Oct. 31.
Barely 48 hours later, TIA is up by over 15%, rewarding early adopters with rare double-digit gains when the crypto market is stagnant.
As it is, TIA is not only outperforming Bitcoin (BTC) and other crypto coins, including Cardano (ADA) and Solana (SOL), but there has been a spike in social media engagement, pointing to increasing interest from the broader community.
Considering the success of Celestia, analysts have been training their eyes on alternative projects that are widely thought to be high-growth, primarily bolstered by the unique value propositions and approaches in their respective industries.
InQubeta (QUBE), a crypto project creating a convenient platform for artificial intelligence (AI) platforms to raise capital; and NuggetRush (NUGX), a play-to-earn (P2E) game aiming to add utility to meme coins, are being explored as candidates that may post sharp gains in the upcoming bull market.
The question, however, remains: What’s the primary driving force?
Exploring Celestia
The following content does not constitute the opinion of BeInCrypto and should not be construed as financial advice
Celestia creators are building what they describe as a modular blockchain that’s designed to scale and anchor intensive decentralized applications (dApps). TIA launched on Oct. 31 and has been listed in multiple cryptocurrency exchanges, including KuCoin and OKX.
The coin’s launch was highly anticipated, and besides the airdrop that saw 60 million tokens distributed to over 191,000 users, developers were looking at whether Celestia walks the talk by offering scalability and security. Celestia achieves this by separating the consensus and execution layers, an approach used by some top projects, including Cardano and Avalanche.
The consensus layer orders and publishes all transactions. On the other hand, the execution layer powers smart contracts, allowing the platform to scale as more validators join.
Meanwhile, for security, the protocol relies on the proof-of-stake rollup (PoSR). This system ensures that validators protect the network while concurrently ensuring it is decentralized and scalable to handle deployed smart contracts.
Are InQubeta and NuggetRush Next?
Like Celestia, InQubeta and NuggetRush aim to improve how specific crypto sub-sectors operate by launching practical solutions.
To illustrate, the creators of InQubeta recognize that AI remains a nascent industry. Its disruptive potential across various sectors can have consequences for those caught off guard. Accordingly, to facilitate adoption, creating channels for the billions expected to be infused into AI startups, InQubeta offers a platform on Ethereum where crypto startups can raise funds from the community.
The team vets listed startups before they issue out opportunities as non-fungible tokens (NFTs), which are fractionalized and listed on the marketplace. QUBE is core to InQubeta. It is an ERC-20 coin that’s deflationary and can be staked for more rewards. So far, InQubeta has raised over $3.5 million in the ongoing presale and is being considered as one of the top ICOs of 2023.
Meanwhile, NuggetRush targets the meme coin scene. Though the industry is not held with the seriousness it deserves and meme tokens are mainly thought to be speculative, NuggetRush sees an opportunity. The team is building a P2E game where NUGX, its native governance and utility token, will play a key role.
While NUGX holders can eventually decide on the platform’s direction, they are free to buy rare but coolest NFTs redeemable for physical gold. At the same time, NUGX is deflationary and those who stake NuggetRush NFTs receive rewards in NUGX. In stage 1 of the ongoing presale, the project has raised over $200k.
Conclusion
The crypto market is recovering, and TIA, QUBE, and NUGX could emerge as top beneficiaries, especially if they build on their recent performance. Celestia seeks to relieve Ethereum by issuing a compatible but scalable platform. TIA’s success, however, depends on whether Celestia will find adoption. Meanwhile, QUBE and NUGX could be driven by the AI wave and the revival of meme activity as capital flows to the industry.
For more information: Visit InQubeta Website or Join NuggetRush Presale
Disclaimer
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content.
Source: https://beincrypto.com/celestia-launches-with-a-bang-as-prices-jump-over-15/