Ethereum Overtaken in Developer Activity by Rising Altcoin; Ascendant Chainlink Alternative Bolsters Position

Investors rely on different metrics when seeking insights into the unpredictable cryptocurrency market. One key yet frequently overlooked metric, developer activity, has put the leading altcoin Cardano (ADA) in the spotlight. ADA remains one of the best altcoins, placing first by development activity and surpassing Ethereum (ETH). 

InQubeta (QUBE), a top altcoin on the crypto list is attracting investors with its prevalent presale. This token merges the AI and crypto industries, offering investors investment opportunities in a controlled environment. InQubeta uses trending NFTs (non-fungible tokens) to provide these investments. This article explores how this Chainlink alternative is bolstering its position while looking into the development activity for Ethereum and Cardano.

InQubeta (QUBE): Ascending With a Firm Position

InQubeta has garnered attention from top investors as its presale surges, recording another significant milestone. The project has raised over $12.3 million, bolstering its position as one of the best altcoins for increasing returns. The ten-stage presale is in its ninth stage, selling at $0.028. Nearly 90% of the tokens for this stage have sold out, and the token’s value is set to rise to $0.0308, 340% from its initial stage.

This token meets the criteria for projects categorized as 100x gems. With exciting features that make it a pioneer in the AI/crypto merge, InQubeta is positioned to deliver substantial rewards. The project provides investment opportunities with its NFT marketplace, where investors can access AI tech startups seeking funding. The crowdfunding model uses trending NFTs minted to represent utility in these startups. By fractionating these NFTs, all investors can claim opportunities with these startups irrespective of their financial constraints.

QUBE is offering even more rewards to users on its platform. The ascendant Chainlink alternative is showing bullish potential with an impressive staking mechanism. Token holders can stake their QUBE tokens in this staking protocol and earn rewards from a pool funded by a buy-and-sell tax. Users also get governance rights to participate in decision-making on the platform, proposing and voting to boost the platform’s growth while benefiting from the development of the listed AI tech startups.

Ethereum (ETH): Bullish Potential Amid Potential Recovery 

While Ethereum is lacking in certain key metrics, such as significant development activity, having been overtaken by Cardano, it shows signs of potential recovery as it struggles to overcome the $3,550 resistance level. The token is experiencing some resistance from the SEC regarding approval for a spot ETH ETF, which could also impact its price. Coinbase’s Chief Legal Officer, Paul Grewal, is among the industry players pushing for approval, addressing key facts and highlighting the ETH non-security status.

ETH bulls are making a comeback as the token trades above $3,400 with the potential to soar beyond $3,820 and across the farther $4,000 resistance. Analysts note that if the token drops to its $3,380 support level, it could decline to $3,050. Its upward momentum has also signaled a potentially bullish forecast in the short term as Ethereum surpasses the 100-hour Simple Moving Average.

Cardano (ADA): Surging Development Activity

ADA is witnessing a surge in weekly engagements as the leader in development activity. This significant metric refers to work done by developers behind the scenes to upgrade features of the blockchain. The Proof-of-Stake (PoS) layer-1 blockchain protocol recorded 978,780 commits on GitHub in under a week, far surpassing its closest rival, Ethereum, which scored only 407,170 commits in the same period. 

Developer activity has been noted as a metric for a protocol’s potential, showing signs of a potential bullish outlook for Cardano despite its decline on the chart. Data from IntotheBlock shows that pledges gotten by other major L1 protocols, such as Avalanche (AVAX), Litecoin (LTC), and Tron (TRX) pale in comparison, recording 315,770, 84,110, and 79,380 commits respectively. ADA has dropped by over 15% in the past week, yet analysts like Ali Martinez hint at a possible rally for the token.

Chainlink (LINK): Mixed Predictions Amid Market Correction 

Chainlink has been on an upward trajectory for the year, raking in profits as its price rose. The token faces market corrections as its price declines further, dropping over 11% in the past week. While some experts believe LINK would benefit from the upcoming bull run, other opinions hint at a reduced chance for the token to hit the $30 mark previously predicted at the start of the year.

Conclusion

Analysts predict a rally for Ethereum as the token chases its resistance level. Although Cardano prices do not reflect the enthusiasm from its surging development activity, investors remain positive as bullish predictions for the token continue to pour in. Chainlink’s predicted growth is being debated as the token’s value dips. InQubeta soars as it gains the attention of investors seeking 100x gems. 

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