Filecoin Sees Surge in Prices Amid High Demand; Eos & Arweave Alternative Anticipates Significant Growth

Joining the league of top crypto to invest in 2024, Filecoin (FILE) has left investors impressed with its price rally and high demand. The crypto project provides decentralized cloud storage solutions and enjoys a good reputation among DeFi assets. 

The other altcoin that has seen high growth recently is InQubeta (QUBE). As its ICO gains touch new highs, InQubeta is now being pitted as a competitor for Eos and Arweave. Till now, its cryptocurrency ICO has raised over $12.1 million.

InQubeta: The growth engine for AI startups

InQubeta contributes towards the empowerment of AI startups and crypto users through a transparent DeFi model. The Ethereum-supported platform provides investment opportunities in AI startups for regular crypto users. 

Right from marketing to initial funding support, InQubeta acts as an incubation center for budding AI projects. Using its native cryptocurrency, people can invest in cutting-edge AI projects. These projects are represented as NFTs at InQubeta’s online marketplace. 

Crypto users can buy them with the native cryptocurrency known as the QUBE token. The mechanism allows for seamless investments that ensure growth for both parties. 

The QUBE token is built using the ERC-20 protocol and its supply has an upper cap of 1.5 billion. The supply is distributed among use cases like public sales, developers’ fees, rewards, liquidity pools, and funding marketing campaigns. 

Even though 65% of this supply is meant for public sale, the availability of the token varies with inflation and other market conditions as it’s a deflationary asset.

A deflationary token lowers the asset supply when markets are in trouble. The reduced supply reins in price fluctuations and allows the asset to trade at optimal prices. If there is an increase in supply, the token burn mechanism is used for weeding out the additional tokens.

Whether it’s for diversification or increasing generational wealth, the QUBE token is getting a lot of attention. 

Filecoin to provide a storage layer for BVM’s AI models

Filecoin is a data storage marketplace that can support multiple kinds of applications. Its native token FIL is giving tough competition to new altcoins with a powerful framework and rallying prices.

The crypto project recently hit the headlines after Bitcoin Virtual Machine (BVM) announced its plans to launch a new AI-centric platform. 

Known as TrulyOpenAI, the platform will enable Filecoin users to float AI models for dApps. Filecoin would be among the blockchain networks that would supply storage layers for the AI models.

Eos to roll out EVM mainnet in April

Eos is a blockchain system where developers can access an array of tools for building dApps and other decentralized solutions. Its native token EOS is the official medium of exchange within the ecosystem.

In a related development, the Eos Network Foundation is now in the process of launching its EVM mainnet along with a consensus protocol upgrade. 

The EVM mainnet will be rolled out first on April 14, with the consensus protocol and other updates to follow suit. The Eos EVM will open new opportunities for Solidity developers with enhanced speed. 

Arweave unveils public testnet

Arweave is a storage platform where developers can also build flexible dApps. Its native token AR comes in handy while dealing with transactional purposes on the network. Its towering gains have given the market something else to focus on than investing in BTC ETFs.

Arweave was in the spotlight recently due to the launch of its public testnet. Known as the Arweave AO, the blockchain will offer better scalability while deploying dApps and was rolled out on February 27, 2024. 

Arweave AO is a blockchain-powered by Arweave’s storage platform and can be integrated with technologies like AI. 

Conclusion 

Filecoin, Eos, Arweave, and InQubeta were among some of the best altcoins for 2023. As they surge consistently, these coins seem to be all set to repeat their performance this year too. 

Analysts suggest that the tokens have the potential to rise higher due to multiple interlinked developments. For Filecoin and Eos, their positive price action is courtesy of their new initiatives and launches. 

In Arweave and InQubeta’s case, the two coins have risen at the back of their test net launch and presale gains, respectively. InQubeta’s rise comes at a time when AI has been making rapid strides across industries and crypto users are also interested in being a part of the AI revolution.

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