Bitcoin Volumes Soar, Indicating Potential Supply Shock; Cardano and Akash Rival on Fast Track for Expansion

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As Bitcoin’s halving event approaches, there are indications that it might be headed towards a supply shock. Every four years, the rewards for mining Bitcoin are halved to control internal inflation. In 2024, the event is scheduled for April. 

In anticipation of the halving, crypto users appear to be accumulating their holdings which has led to an uptick in Bitcoin prices. Going by market trends, analysts suggest that it could indicate a supply shock and that the development may impact investor sentiment post-BTC ETF. 

Among altcoins, an AI-focused token has been giving tough competition to established names like Cardano (ADA) and Akash (AKT). Called InQubeta (QUBE), the platform connects AI startups with investors and helps them expand their business. Even as Cardano and Akash rose with their developer-friendly solutions, InQubeta trumped them with its robust growth.

InQubeta: Disrupting AI space with DeFi

Armed with an array of DeFi features, InQubeta is helping startups build the future of AI with their innovation. By taking concerns about business development out of their hands, it enables them to focus exclusively on innovation. 

InQubeta’s native cryptocurrency, the QUBE token, is a pivotal part of the platform’s operations. It not only is used for settling payments but also for governance and staking. 

InQubeta’s has attracted many buyers and has registered a huge presale success. With record presale funding, it went on to become one of the best new ICOs of last year. So far, its ICO has raised over $9.6 million. 

Powered by the ERC-20 standard, the QUBE token’s supply is capped at 1.5 billion. While 65% of tokens are meant to be sold, the remaining will be used for paying operational expenses. 

The top altcoin has gained traction among rookie crypto users as it allows them to earn via staking. In staking, crypto assets are locked and used for liquidity expansion. As long as the cryptocurrency is staked, it will fetch the owner rewards. On InQubeta, staking is sustained by a rewards pool and is funded by tax collections.

QUBE token holders get voting privileges for participating in the governance system. If there are protocol upgrades or suggestions for new features, they are vetted and put to a vote. Depending on their opinion, community members vote and decide if a proposal should be implemented or not.

Around 5,000 smart contracts were deployed on Cardano in February

Cardano is a public blockchain where developers can find solutions for building cutting-edge dApps. The open-source network has a native cryptocurrency called ADA which is used for making on-chain payments. These transactions are then confirmed using the proof-of-stake algorithm. 

It’s pitted as one of the best cryptos to buy today as it’s powered by the Ouroboros protocol that is known for lending scalability to dApps.

The platform added yet another achievement to its name in February in terms of deploying smart contracts. According to data collected by Finbold, in the first 11 days of February, Chainlink added around 5,00 smart contracts – approximately half the number recorded throughout 2023. 

The Plutus V2 hosted on Cardano saw significant growth during the period. While Plutus V1 scripts saw 6, 356 smart contracts, the corresponding number for Plutus V2 scripts was 18,859.

Akash EDU rolls out a new course on Spehron

Akash is an open-source platform where developers can purchase or sell decentralized computing resources. For any transaction, they will have to use Akash’s native token AKT. Built on Kubernetes, the platform offers reliable settings for hosting apps. 

Its orchestration layer is powered by SDL which facilitates the deployment of solutions across blockchains along with resource control. 

In a recent development, Akash announced a new course on its free education portal, Akash EDU. The course helps developers leverage Spheron for deploying dApps on the platform and expand their knowledge. After they complete the program, developers will get a course completion NFT. 

Conclusion

Chainlink, Akash, and InQubeta have maintained their position as top cryptos to invest in with their strong growth. They have soldiered on even as volatility and economic uncertainty battered global markets, thereby earning analysts’ praise. 

The three cryptocurrencies can be credited with simplifying DeFi and taking it to the masses. Their security frameworks constantly assure crypto users of the safety of their assets. 

Not only do these security frameworks meet global standards but they have also been reviewed by blockchain audit firms of international repute.

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