Connect with us

Press Release

Shiba Inu Price Rebounds with Increased Token Burn Rate; Filecoin and InQubeta on the Cusp of Strategic Gains

Published

on


 

Shiba Inu (SHIB) was recently all over the news after its price rebounded following a massive jump in its token burn rate. From January 22-23, 2024, its token burn rate rose to 459% but later came down to 148%. 

The rise helped Shiba Inu’s price rebound and shift crypto enthusiasts’ attention away from investing in BTC ETFs

Shiba Inu isn’t the only altcoin that has been in the news due to their rallying prices recently. InQubeta (QUBE) and Filecoin (FIL) both have been rising steadily and have fetched substantial gains for their holders. 

InQubeta’s market success comes shortly after it made waves with presale success. So far, its cryptocurrency ICO has raked in over $8.5 million.

InQubeta: An AI-focused investment portal for startups

InQubeta has carved a niche for itself with an undemanding investment mechanism catering to fundraising for AI startups. It’s cost-friendly, easy to use, and devoid of any confusing formalities. Its native cryptocurrency, the QUBE token, takes care of all payments to further simplify operations. \

With a supply of 1.5 billion, the QUBE token is built on the ERC-20 standard. The asset has an important role in the governance structure and gives token holders rights to participate in decision-making. The InQubeta team organizes voting processes to implement key decisions on new features or protocol upgrades where token holders use their special vote privileges.

Since its launch in 2023, InQubeta has been able to stave off competition from new altcoins with its range of business development services. These services help young enterprises become more confident and ramp up their reach. 

One of the platform’s most demanded services is mentorship support where startups can interact with AI experts to learn more about the industry and gain insights.

To help startups navigate through legal and financial issues, the platform has a team of advisors offering accounting support. There are also marketing services available that enable startups to grow their brands by networking. They get to leverage InQubeta’s social media channels to create awareness about their projects. 

 

 

Filecoin sends IPFS files to space 

Filecoin is a decentralized platform offering cloud storage services to developers. It enables developers to store and retrieve their data with an efficient protocol. It ensures security storage by using cryptographic proofs and content addressing for confirming data. Its native token is FIL.

Leading with stellar gains, Filecoin is among the top cryptos to invest in this year. According to analysts, it also might be a good time for FIL patrons to consolidate their holdings. 

The platform recently unlocked a new milestone after it deployed the InterPlanetary File System (IPFS) in space. As part of the mission, Filecoin sent files into orbit and back using a special IPFS implementation created for space communication. Filecoin used software created by Lockheed Martin for the mission.

 

Shiba Inu’s Shibarium transaction growth crosses 300 million

Shiba Inu is a meme coin inspired by a dog breed native to Japan. For transactions within the network, the platform has created a native token called SHIB. For governance, another token BONE is used. A third token, known as LEASH, is used for rewarding long-time Shiba Inu supporters. 

After a brief lull, the SHIB token is now back in the game after its burn rate jumped to as high as 459% between January 22 and 23, 2024. The surge has helped the meme coin recapture its hold over the market. Analysts monitoring its movements suggest that a full-price recovery was very much on the cards.

With its foray into DeFi solutions, Shiba Inu is trying to encourage more innovative use cases with its protocol. It is currently working on the launch of Shibarium, an Ethereum-based Layer 2 solution for developers. The solution was rolled out to lower the gas fees for the Shiba Inu ecosystem.

In a tweet on January 23, 2024, the Shiba Inu team announced that Shibarium’s transaction growth had crossed 300 million. 

 

 

Conclusion

Shiba Inu, InQubeta, and Filecoin were some of the best altcoins of 2023 and have continued their successful streak well into 2024. These cryptocurrencies leverage the versatility of DeFi to cater to different user groups while driving financial inclusion. 

These coins are built with utility-centric models which make exploring cryptocurrencies a fuss-free experience. What further bolsters one’s confidence in these crypto projects is their security frameworks which have been reviewed by top-notch blockchain audit companies.

Visit InQubeta Presale



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Press Release

Tether Discontinues EOS, Algorand Support For USDT

Published

on

By


  • Tether halts USD₮ minting on EOS, Algorand, shifting focus to community-driven blockchains.
  • Tether will redeem USD₮ on EOS and Algorand for 12 months post-minting cessation.
  • This strategic pivot ensures resources enhance security, efficiency, and innovation.

Tether Ends USDT Support for EOS and Algorand in Strategic Shift

Tether, a leading name in the blockchain ecosystem, has announced a significant shift in its strategy, placing a stronger emphasis on community-driven blockchain support. 

This move aligns with Tether’s ongoing commitment to fostering a robust and innovative environment for its widely-used USD₮ token and other issued tokens. 

The decision underscores the company’s continuous effort to evaluate and balance the maintainability, usage, and community interest of various blockchain transport layers.

Community Interest as a Driving Force

A key factor in Tether’s decision-making process is the level of community interest in different blockchains. 

The company meticulously assesses each network’s security architecture to ensure it meets high standards of safety, usability, and sustainability. 

This careful evaluation process is designed to ensure that resources are allocated to where they can most effectively enhance security and efficiency, while also supporting ongoing innovation across the crypto landscape.

Discontinuation of EOS and Algorand Support

After thorough consideration, Tether has decided to discontinue support for USD₮ on the EOS and Algorand blockchains. This decision marks a strategic shift as the company redirects its focus towards the protocols and chains that are most favored by the community. 

Starting from June 24, 2024, Tether will no longer mint USD₮ on the EOS and Algorand networks. However, the company will continue to redeem USD₮ on these blockchains for the next 12 months, ensuring a smooth transition period for all users. 

Tether has pledged to re-evaluate the situation at the end of this period and may announce further changes based on the outcomes of this reassessment.

Ensuring a Seamless Transition

Tether is committed to ensuring that this transition is handled with great care and minimal disruption to users. 

The company’s top priority remains providing a seamless user experience, and it has assured its community that every effort will be made to facilitate a hassle-free transition. 

Tether expresses deep appreciation for the continued support and trust from its users and encourages them to explore and expand the use cases of USD₮ across other protocols.

Towards a Sustainable and Democratized Financial System

This strategic transition is seen as a step towards a more sustainable and democratized financial system. By prioritizing community-driven blockchain networks, Tether aims to support a decentralized and secure environment that benefits the entire blockchain ecosystem. 

The move is expected to stimulate further innovation and usage of USD₮, reinforcing its position as a cornerstone in the world of digital finance.

Strategic Pivot to Align with Community Interests

In summary, Tether’s decision to discontinue support for EOS and Algorand reflects its commitment to aligning with community interests and optimizing resource allocation. 

This strategic pivot is designed to bolster security, efficiency, and innovation, paving the way for a more robust and inclusive financial future.



Source link

Continue Reading

Press Release

Rumors Suggest Solana Under Criminal Investigation: Bitlord

Published

on

By


  • Solana is reportedly under criminal investigation, according to Bitlord.
  • SOL was labeled a security by the SEC last year, raising legal concerns.
  • Details about the investigation and leading agency are still unclear.

Solana is reportedly under investigation, according to a renowned influencer on social media platform X. Details remain unclear.

SOL is among the crypto tokens that received “security” branding from the US Securities and Exchange Commission (SEC) last year.

Solana Allegedly Under Criminal Investigation

Renowned influencer Crypto Bitlord, boasting nearly 330,000 followers on X, highlighted rumors of a possible criminal investigation against Solana. The probe is reportedly already weeks long and could bode poorly for the altcoin.

“We are hearing rumors that SOL is under investigation and a huge case is about to become public. This has been brewing for weeks now and could not come at a worse time. If what we heard is true, start praying for Solana,” Bitlord noted.

The basis of the alleged investigation and the agency leading the probe remain unclear. However, there is speculation that it links to the SEC after labeling Solana as security. Polygon (MATIC) and Cardano (ADA) were also on the financial regulator’s list of tokens named as securities.

Along with the branding, the SEC sued Binance and Coinbase, charging them for trading unregistered securities. The essence of this lawsuit boiled down to the Howey Test, a legal framework that determines if an investment is a security. 

At the time, SEC chair Gary Gensler said that “everything other than Bitcoin” can be labeled as a security. 

Similar to Solana, Ethereum also attracted regulatory attention due to concerns about potentially being classified as an unregistered security. 

However, the recent closure of the investigation in Ethereum’s favor has restored investor confidence. In contrast, legal expert Drew Hinkes believes that Solana might not experience the same positive outcome.

“Ethereum 2.0 investigation was a win for the company but doesn’t mean much for other [Proof-of-Stake] POS tokens,” Hinkes noted.

The legal expert alludes to the remaining tokens still being on the hook. PoS coins like Solana and Polygon have presumably not been investigated, as in the case of Ethereum 2.0. 

As such, their facts regarding creation and distribution, among other parameters, could be different from those of Ethereum.





Source link

Continue Reading

Press Release

Did Jason Derulo Pump and Dump PUMP Token

Published

on

By


  • Jason Derulo’s post boosts interest in PUMP token despite a 2.81% drop, highlighting vigorous trading activity.
  • PUMP token shows a bullish trend with higher highs and sustained interest, driven by significant trading volume spikes.
  • Support at $0.002500 and resistance at $0.004000 mark crucial levels for PUMP token amidst short-term volatility and consolidation.

Jason Derulo’s recent tweet mentioning “pumpdotfun” has coincided with a surge in trading activity for the PUMP token, despite a slight price dip in the past 24 hours.

PUMP’s price stands at $0.182558, reflecting a 2.81% decline. However, despite this drop, the token’s trading activity remained strong.

The candlestick chart for the JASON/SOL trading pair on the Raydium platform, provided by Dexscreener.com, offers interesting insights. 

At a 15-minute interval, the chart displays notable price movements and trading volumes. Green candles indicate price increases, while red candles signify price decreases. 

The volume bars at the chart’s bottom depict the number of transactions within each 15-minute interval, with a total of 17.458K trades.

In the most recent trading session, key price levels were recorded as follows: Opening Price (O): 0.002638, High Price (H): 0.002771, Low Price (L): 0.002658, and Closing Price (C): 0.002675. 

This data shows a price change of 0.00003699, equivalent to a 1.40% increase. A significant price spike occurred around the 6:00 mark.

During this period, the price surged from approximately 0.002000 to around 0.004000. Following this spike, the price showed some volatility but remained higher than the pre-spike prices. 

This indicates a possible bullish trend in the short term. However, the recent pullback suggests potential consolidation or a short-term correction.

Moreover, volume analysis reveals a notable increase in trading activity leading up to and during the price spike. This surge in volume suggests heightened interest, possibly driven by news or significant buys. 

Although the volume slightly decreased post-spike, it remained elevated compared to the pre-spike period. This sustained interest hints at continued market engagement with this trading pair.

Regarding support and resistance levels, the chart indicates support around 0.002500. Multiple candlesticks found a base near this level post-spike, suggesting a strong support zone. Conversely, resistance is identified around 0.004000, where the price peaked before retracting.

The short-term trend for the JASON/SOL trading pair appears bullish. The chart shows higher highs and higher lows following the initial spike. 

However, the recent pullback indicates a potential short-term correction or consolidation phase.





Source link

Continue Reading

Trending

Copyright © 2023 Dailycrunch. & Managed by Shade Marketing & PR Agency