The recent fall in Cardano’s (ADA) price came after the popular cryptocurrency reached an 18-month high. The negative price action has triggered a selling spree among ADA holders. Many long-term ADA holders are busy searching for the best altcoins to buy now.
Cardano’s loss seems to be InQubeta (QUBE) and Polakdot’s (DOT) gain. The two tokens have been drawing in a lot of Cardano holders.
Polkadot is a Web 3.0 platform for transferring data and assets, InQubeta is a decentralized fundraising service for AI startups. It was launched earlier this year and has raised over $6.8 million in presale funding so far.
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InQubeta: Raising the bar for DeFi solutions
InQubeta leverages blockchain technology to make crowdfunding a less laborious process for startups. With smart contracts and DeFi technologies, the platform creates a transparent model for startups and investors to interact.
The native cryptocurrency of InQubeta is the QUBE token and it powers all transactions within the InQubeta ecosystem.
The total stock of QUBE tokens is 1.5 billion and 65% of it is meant to be sold to the public. The remaining tokens go on to fund the daily operations of the platform. These tokens are used to pay for marketing expenses, fees charged by developers and legal advisors, and maintaining the liquidity pool.
It has a decentralized governance structure that puts the onus of decision-making on token holders. Community members suggest changes in the protocol when they feel the need. Their proposals are debated and put up for a vote. Token holders communicate their views by exercising voting privileges.
The QUBE token has drawn a lot of attention because of its deflationary model. Whenever inflation is high or the markets are volatile, the model makes the tokens scarce. With the supply less than the demand, the token commands a competitive price even as costs are rising. The fewer the tokens, the less the price fluctuations. If the supply increases significantly, the excess tokens are immediately burned to maintain the status quo.
Regarded as one of the best crypto investments of the year, InQubeta’s success has a lot to do with its fuss-free model. There is no time-taking paperwork to be completed or meetings to be scheduled. Startups can submit their rewards-based offers and begin connecting with startups via InQubeta’s NFT marketplace.
The submitted offers represent what the startup project can bring to the table. The tokenized versions of the offers are sold in the NFT marketplace. If an investor likes a startup project, they can buy either the entire NFT or a fraction of it.
Cardano to roll out new Web 3.0 wallet for creating decentralized identities
Powered by the Ouroboros protocol, Cardano is a blockchain network that enables developers to create scalable and high-performance dApps.
It has been built with a DeFi framework that’s based on verified research and proof-based methods. Cardano has all it takes to create a good crypto to buy. Its native token ADA is used for settling all kinds of on-chain payments.
The platform was recently in the news after it announced its plans to create a Web 3.0 wallet for deploying decentralized identities. Named as the ‘Identity Wallet’, the solution would enable users to create digital identities that are linked to Cardano accounts.
Polkadot continues to rise as Deloitte leverages blockchain
Polkadot is a blockchain that facilitates high-speed transfer of data and decentralized assets. The Polkadot network is composed of smaller sovereign blockchains called parachains. Its native token is DOT.
New parachains are added to the network through bonded tokens. In case a parachain becomes obsolete, the bonded tokens are removed.
Deloitte is planning to leverage Polkadot’s Kilt blockchain for new logistics services.
Deloitte’s professional services vertical will be leveraging Polkadot’s Kilt blockchain to provide supply chain and logistics services for the shipping industry. Kilt Protocol founder Ingo Ribe said that Deloitte was working with Nexxiot – a company working with supply chain technology – to build a new logistics service which will be called KYX.
Conclusion
Any discussion about the performance of the crypto sector in 2023 is not complete without mentioning names like Cardano, InQubeta, and Polkadot. The three are among the top crypto coins and are commanding global attention with their growth.
These three cryptocurrencies have successfully captured the potential of blockchain to fuel innovation while giving crypto users a chance to earn long-term returns.
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