Ethereum Burns 5,679 ETH, Totalling $13 Million; AI Altcoin Aims for New Heights

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One of the oldest altcoins Ethereum (ETH) has a lot going on in terms of developmental upgrades. The cryptocurrency has been in the news after analysts claimed that Ethereum exchange-traded funds (ETFs) could be next in line after the phenomenal growth of spot Bitcoin ETFs in the US.

On January 11, US regulators gave their approval to 11 BTC ETFs which clocked record inflows. Their success came after a long wait as authorities took their time to decide the ETF acceptance criteria.

Ethereum’s performance also improved after its team of developers burned 5,679 Ethereum tokens, which were worth $13 million. The move boosted the price by reducing internal inflation.

However, Ethereum is facing tough competition from InQubeta (QUBE) which has been consistently growing due to its presale success. The platform offers business development services for AI-centric startups like fundraising and mentorship. Currently, its presale funding has reached $ 9.1 million.

InQubeta: A Game Changer for Startup Finance

InQubeta is a versatile platform aimed at helping startups grow and lay the foundation of the AI sector. The platform has created a native cryptocurrency called the QUBE token which is used for making payments and distributing rewards.

Analysts consider the QUBE token a good crypto to buy because of its deflationary model. The feature makes it unlikely to buckle under market volatility like other asset classes.

Under adverse market conditions like inflation, the model makes the token harder to purchase by restricting its supply. So the demand stays the same but the supply reduces which pushes the price.

The InQubeta team uses the same mechanism while dealing with internal inflation. Whenever high tax collections put the internal supply at risk, the team burns 1% of the proceeds from every transaction. The remaining proceeds go towards meeting usual expenses like marketing campaigns, giving out rewards, or pumping in more liquidity.

Built on the Ethereum blockchain, InQubeta uses a decentralized autonomous organization model for governance.

The model helps in keeping up with technological advancements through regular protocol upgrades. Any protocol change is implemented only if it has been approved by all token holders.

The consensus for a protocol upgrade or addition is managed through a voting process. All stakeholders participate in the process by using their special voting rights. The mechanism allows token holders to carefully select proposals and act in the best interests of the platform.

QUBE is one of the best crypto investments available in the market today as it helps crypto users invest in the future of technology. Given how AI is a billion-dollar industry today and is poised to grow further in the future, startups can help an average person become a part of the AI revolution.

Ethereum’s Experimental Token Standard Earns $87 Million in DEX Sales

Ethereum is a blockchain network that can support an array of decentralized tools like crypto tokens, NFTs, blockchains, and virtual machines.

Its native cryptocurrency, ETH, is the main mode of payment for gas fees and other transactions. Every ETH-based transaction will be validated by a proof-of-stake protocol.

The blockchain was in the news recently after its team of developers burned 5,679 ETH tokens worth $13 million to curb internal inflation. According to analysts, the move has helped Ethereum become one of the best altcoins to buy now.

Ethereum’s market reputation received a huge boost after spot ETFs debuted in the US markets in January. The approval for these Bitcoin ETFs came after a long wait in which US authorities raised several regulatory concerns. Given the success of the financial product, speculation is rife if Ethereum ETFs would be next in line.

In a related development, Ethereum recently rolled out an experimental token standard called ERC404. Considered to be a mix between the blockchain’s ERC20 and ERC721 standards, the ERC404 protocol was implemented via a Replicants NFT series.

It has so far earned $87 million through sales on decentralized exchanges in a week since its launch. The recent sales on NFT marketplaces are also nearing $1 million.

Conclusion

Ethereum and InQubeta have been racing ahead of top crypto coins with their utility-oriented models. The two cryptocurrencies are also among analysts’ favorites as their growth potential gives them an edge.

Compared to other asset categories, they are better poised to fetch returns, irrespective of how the market is doing. Plus, their security networks keep these assets safe and away from malicious actors.

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Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.



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