Over 57% Of Cardano Addresses Now At A Loss, Monero And Solana Rival Sparks Excitement
As Cardano (ADA) continues with negative price action, its holders have been registering huge losses. According to reports, around 2.56 million wallet addresses have sustained major losses in the past 30...
As Cardano (ADA) continues with negative price action, its holders have been registering huge losses. According to reports, around 2.56 million wallet addresses have sustained major losses in the past 30 days. These addresses comprise roughly 57% of the total wallets registered on the Cardano network.
Given its disappointing performance, many Cardano holders are now exploring new altcoins like InQubeta (QUBE). The AI-driven crypto project facilitates fundraising for projects floated by startups.
The platform’s rising popularity is pitting it against leading names like Monero (XMR) and Solana (SOL). Having raised more than $13.6 million in its presale stages, InQubeta is among the best new ICOs of the year.
InQubeta: Riding the AI wave
InQubeta makes AI investments more approachable for crypto users through its NFT marketplace. The lone mode of payment in the marketplace is InQubeta’s native cryptocurrency, known as the QUBE token.
These NFTs are minted from investment proposals prepared by startups and have all the information about the AI project. Startups can take their growth journey further by using InQubeta’s business development services.
The InQubeta community comprises seasoned professionals from various fields who can guide innovators in branding, marketing, and finance, among other fields.
A crucial reason why token holders like InQubeta is its decentralized operations. There’s no central authority to call the shots, and decision-making is democratized.
Any resolution regarding a new feature or an upgrade is made by putting it to a vote, and only token holders can participate. By gatekeeping the process, the mechanism ensures that community members make decisions in the best interests of the platform.
The top altcoin works on a deflationary model where the token supply changes according to market conditions. Under high inflation or market volatility, the token availability is cut short to curb price fluctuations. The mechanism pushes the asset’s value and demand while attracting more crypto users.
Cardano unveils new Interim Constitution
Cardano is a Web 3.0 platform supplying a myriad of solutions for deploying dApps. It is supported by the Ouroboros protocol and its native token is called ADA.
The team at the Cardano Foundation recently launched the Interim Constitution for the proof-of-stake platform. The Constitution is based on the network’s key principles like commitment to empowering token holders, accountability, and transparency.
The ADA token recently found itself in hot waters after 57% of its wallet addresses posted losses during a 30-day period. The move has prompted many analysts to advise crypto users to stay in wait-and-watch mode for the time being.
Monero to host a hackathon
A privacy-centric crypto project, Monero has maintained its stead amid the influx of several new altcoins this year. It uses technologies like multi-authentication signature and Ring confidential for security and confirms all transactions made with its native token XMR.
The Monero team will organize a hackathon for developers at its flagship event, the MoneroKon. The event will be held in Prague from June 7 to 9, 2024, and will have a prize pool of $6,000 and other prizes.
Solana’s new upgrade to solve network congestion issues
With its rallying prices, Solana has emerged as an ideal crypto to boost people’s generational wealth. The proof-of-stake platform’s native token SOL is used for all transactions on the platform.
In a related development, Solana has unveiled its ‘Version 1.17.31’. The revamped version is among the measures taken by the platform to solve the problem of network congestion.
Due to the success of its meme coin, the platform had experienced snags in its network owing to increased user activity.
Conclusion
Cardano, InQubeta, Monero, and Solana are some of the best cryptos that are recommended by both analysts and users. These four tokens are charting their own path and are exciting alternatives to mainstream assets.
The four coins are among the fastest-growing digital assets globally, and analysts credit their success to their new projects and initiatives.
Solana left the crypto community impressed with its new upgrade that aims to solve issues like network congestion. By rolling out an interim Constitution, Cardano reiterated its commitment to accountability and transparent blockchain operations. Meanwhile, Monero is drawing attention with its Hackathon event.
InQubeta has been working to expand its horizon and make its brand stand out. To that end, it’s planning to unveil a staking dApp. The QUBE token is now also listed on popular exchanges like MEXC and Uniswap.
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