As Solana price drops, 2024 could be game-changing year for Bittensor’s biggest rival
Solana (SOL) is among the top crypto coins that have been facing bearish pressure for the past few weeks. As Solana’s price heads south, its holders are busy exploring alternatives.
Experts suggest that a shift in attention could bring positive news for other altcoins like InQubeta (QUBE). The Ethereum-supported platform helps AI startups with crowdfunding for projects.
The emerging crypto has been making waves after its presale stages raised over $13.6 million in funding. The token is being considered a rival for leading altcoins like Bittensor (TAO) and is expected to post higher gains in the coming months.
InQubeta: Making a case for AI altcoins
With a successful presale phase, InQubeta is gearing up for new heights. The platform has already generated global interest with its NFT-based investment model.
AI startups interested in crowdfunding float NFTs minted from investment proposals which are then bought by crypto users. The only mode of payment on the NFT portal is InQubeta’s native coin, the QUBE token.
Once the transaction is complete, the funds are transferred to the startups while the buyers become shareholders of the company. The arrangement allows both sides to boost their incomes and secure their future.
Startups can take their experience with InQubeta further by leveraging its mentorship and marketing support. The InQubeta community comprises many experienced professionals from varied sectors like AI, accounting, or finance whose guidance can help startups plan.
They can find mentors to share insights with and brainstorm on marketing strategies. Plus, the community can be a valuable resource for boosting a brand’s outreach.
Many analysts consider the QUBE token a good crypto to buy because of its potential to weather market storms. The token has a deflationary character which lowers its supply anytime the market is hit by inflation.
The supply gap will prop up the token price and the demand will follow suit. Thus, the deflationary mechanism ensures that the token’s popularity isn’t impacted by market conditions.
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FTX to release locked Solana tokens via an auction
A Web 3.0 platform with a myriad of developer-friendly solutions, Solana is among the leading cryptocurrencies in the world. The eco-friendly platform has a native token called SOL which determines all on-chain transactions.
As an extra measure of security, these transactions are always confirmed with the proof-of-stake consensus.
The SOL token has been going through a rough patch as the bearish pressure has been intensifying on it. At the same time, collapsed crypto exchange FTX recently announced that it would be releasing locked SOL tokens via an auction.
The auction appears to be a deviation from FTX’s usual practice of selling tokens at a set price. According to reports, Mike Cagney-led Figure Markets will be developing a special-purpose vehicle to facilitate participation by authorized US investors and non-US crypto users.
The development could give Solana a much-needed boost and bounce back.
Binance rolls out new trading pairs for Bittensor
Bittensor is a mining platform that paves the way for decentralized access to machine learning models. Through a system of digital rewards and incentivized participation, Bittensor creates a network of open-source AI solutions.
Considered to be one of the best altcoins to buy now, Bittensor has a native token called TAO which is used for settling payments and giving out rewards.
In a recent development, popular crypto exchange Binance announced that it would be including the TAO token in its network. The exchange will also unveil spot trading pairs with the token. These pairs would include top names like Bitcoin and fiat currencies like the US Dollar.
Conclusion
Considered the best crypto investments of the year, Solana, InQubeta, and Bittensor are introducing crypto users to new opportunities in the DeFi sector.
With their focus on technology-backed solutions, people can go beyond the regular trading and swapping of tokens and explore other services like staking. What’s acting as another growth driver for these tokens are their new partnerships and projects.
Developments like FTX releasing locked Solana tokens and Bittensor getting listed on Binance are likely to boost the tokens’ prospects in the coming months. InQubeta, after wrapping up a successful ICO, now has its eyes set on initiatives with far-reaching impact.
After getting the QUBE token listed on MEXC and Uniswap, the InQubeta team is now working on rolling out a new staking dApp to allow users to earn a passive income.
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