Since the much-touted EIP-1159 improvement was implemented in August 2021, cryptocurrency enthusiasts have been closely watching the Ethereum network. For the second-largest blockchain network, it promised to change the game. And now it’s obvious that something has changed: Ethereum has reported a burn of astonishing 6,425.96 Ether, or $11 Million. The whales of the cryptocurrency market are, however, casting their nets widely and focusing on select top cryptocurrencies that have the potential to yield significant profits since it makes big strikes. InQubeta’s $QUBE is one token that has recently attracted a lot of interest.
One of the top ICOs for whales is InQubeta.
Before starting a massive ETH burn exercise, it’s important to highlight a top ICO in 2023: InQubeta. By creating a platform for democratising investments in AI start-ups, this goal is rethinking the relationship between blockchain technology and AI expertise. The era in which Silicon Valley behemoths monopolised such investments is long gone. Through some of the trendiest NFTs and its own QUBE token, InQubeta enables users to invest in emerging AI projects.
The ERC20-based $QUBE coin offers two benefits: access to the lucrative field of AI investments and the potential for a rising digital asset. It’s no surprise that this top cryptocurrency coin has found a home in the portfolios of some of the most savvy whales. It is a smart bet given the platform’s presale milestones (over $2.4 million and growing) and future possibilities, which include merging multiple blockchain chains by 2024 and opening an NFT market.
Massive Token Burn on Ethereum
Going back to the huge good contract, Ethereum’s most recent burn has demonstrated the practical effects of EIP-1159. The deflationary nature of the coin is reinforced by the removal of $11M worth of Ether from circulation as of the time of this investigation.
This motion is a direct result of EIP-1159, a proposal that altered the way Ethereum’s transaction fees operate among other things. Instead of being given to miners, the bottom price, which varies according to the demand for block space, will be burnt. This permanent removal lowers the overall supply of Ether and promises to increase the stability of transaction fees and the wider Ethereum ecosystem.
Whale’s Pick: XRP and LTC
Whales constantly keep a finger on the pulse of the market. Their funding decisions can offer information on the long-term future of different tokens. While Ethereum has always been on their radar, recent trends indicate a keen interest in other top altcoins, including as LTC, XRP, and $QUBE.
Since its inception, Litecoin (LTC) has consistently positioned itself as the silver to Bitcoin’s gold. For many, it is a dependable investment because to its quicker transaction times and reliable group support.
Despite its regulatory conflicts, XRP has remained popular. Its main benefit is that it allows for real-time global settlements by linking the worlds of traditional banking and decentralized finance. Despite its difficulties, this utility has earned the respect of many whales.
Panorama of the Future
With the most recent burn event on Ethereum, the cryptocurrency industry has once more demonstrated that it is an ecosystem that is rapidly developing. On the other hand, the interest generated by tokens like $QUBE shows that the market is ready to accept ground-breaking efforts that combine many technology spheres, like AI and blockchain in the case of InQubeta.