As the excitement of investing in BTC ETFs reaches a fever pitch, there were a few other developments in the blockchain sector that have been keeping crypto users hooked.

The recent rally in Dogecoin (DOGE) prices has managed to attract the attention of whales. The surge comes shortly after X (formerly Twitter) announced that it would be introducing a payments feature by mid-2024.

The other altcoins that have been in the news are Injective (INJ) and InQubeta (QUBE) because of their strong growth trajectories. While Injective is a Layer 1 blockchain, InQubeta is a decentralized crowdfunding platform for AI startups.

InQubeta: Helping startups build the future of AI technology

InQubeta is an Ethereum-powered platform designed to help startups find legitimate investors for their AI projects. The platform connects startups and investors through an NFT marketplace. At the portal, the NFTs are created from offers pitched by startups and are bought using InQubeta’s native cryptocurrency, the QUBE token.

The token has been built with a deflationary mechanism that shields portfolio returns from inflation. The model works by tweaking the token supply when inflation is high. The asset’s market availability is reduced, so the demand surges and the price remains competitive. If the supply rises, it is brought back within permissible limits by burning the extra tokens in circulation.

The success of InQubeta’s cryptocurrency ICO has also added to its fame. Currently, its presale funding stands at $8.6 million.

After being hailed as one of the best altcoins for 2023, the QUBE token is heading towards new heights in 2024. One of the reasons behind its popularity is the way it involves token holders in daily operations. Token holders are given special voting privileges with which they can make decisions in the platform’s best interests.

Any suggestion for a protocol upgrade or the addition of a new feature is put to a vote where all token holders participate. Using their voting rights, token holders decide which suggestion deserves to be implemented.

Derivative value of Injective dApps rises

Injective is among the top cryptos to invest in and has been a game-changer for the Web 3.0 space. The Layer 1 blockchain helps developers create future-looking and dynamic dApps. Its smart contract layer CosmWasm enables dApps to offer enhanced capabilities. Its native token is INJ and it’s used for all transactional purposes on the blockchain.

The altcoin has been registering successive rallies in the market and experts claim that it can potentially create a bullish sentiment in the long term. They also believe that it might be a good time for INJ users to accumulate holdings.

Injective recently unlocked a new milestone after the derivatives trading volume of dApps powered by Injective increased significantly. As per the data compiled by DeFiLlama, the derivative volume on Injective dApps was the fourth highest in the Web 3.0 industry.

Dogecoin’s new addresses rise by 1,094%

Dogecoin is among the widely-recognized cryptocurrencies that is inspired by Shiba Inu, a dog breed native to Japan. Its native token DOGE is among the most sought-after crypto assets on most DeFi exchanges. It has a decentralized governance structure where all decisions are taken by the team collectively.

Dogecoin was recently in the news as its price rose following the announcement of a new payment feature of X. The move comes months after the former CEO of X Elon Musk expressed his support for Dogecoin. The payments feature is likely to go live by mid-2024, and there is a separate account created for it.

Dogecoin’s other achievements include a surge in the number of active addresses. In the week ending on January 30, 2024, Dogecoin clocked an increase of 1,094% in the number of new addresses. It reached a new high on January 29 after the number hit 247,240.

Conclusion

2024 is likely to see an uptick in new altcoins but analysts believe that it’s not going to make much difference for InQubeta, Injective, and Dogecoin. The three cryptocurrencies have been clocking robust growth which analysts think gives them leverage over newer options in the market.

With a high growth potential, these tokens have laid a strong foundation in the market which can help them make gains in the future. Using decentralization, they distribute operational decisions among community members and are building strong communities to bolster their development.

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