The halving year is upon us and the deadline day of the BTC halving is approaching closer by the day. Miners have started giving their own opinions on how this event will affect the overall market as well as the BTC price specifically. Plus, some exciting developments in the market continue as projects like Render and InQubeta keep making headlines and competing for the coveted spot of the best cryptocurrency to buy now.
Miners’ Forecasts for Bitcoin Halving 2024
Leading Bitcoin mining players have highlighted the need for efficiency to remain profitable and operational after the halving in 2024. Bitcoin’s protocol is hardwired to reduce the amount of BTC awarded to a miner for adding a block to the ongoing chain. Mining reward halvings occur every 210,000 blocks, and with a block added to the blockchain every ten minutes, halvings come around only once every four years.
This upcoming halving will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC. The previous halvings took place in 2012, 2016 and 2020. Reducing mining rewards is a pertinent consideration for miners, given its implications on profitability and returns on investment on hardware and overhead running costs.
The efficiency of Bitcoin mining operations is set to play a vital role during the halving. Hut8 CEO Jaime Leverton says that the event will force miners to drive efficiencies in their operations to continue mining.
“We have long been bullish on self-mining and the price of Bitcoin going up and to the right over time, and we believe the best-prepared miners will be positioned to capture upside following the halving,” Leverton explains.
Smaller miners may suffer a drop in profitability in 2024, given the reduced BTC reward. This leads to a unanimous point raised by multiple commentators – the need for a Bitcoin price surge to drive profitability during and after the halving.
Render + InQubeta Making Moves In The Market
The Render Network is the first decentralized GPU rendering platform, empowering artists to scale GPU rendering work on-demand to high-performance GPU Nodes around the world. Through a blockchain marketplace for idle GPU computing power, the network provides artists the ability to scale next-generation rendering work at fractions of the cost and at orders of magnitude in speed when compared to the centralized GPU cloud.
However, today we really want to talk about QUBE – as it is quickly becoming the best crypto to buy. It is an ERC20 token developed by InQubeta, the brains behind the world’s first crypto crowdfunding platform designed for fractional investment in AI startups. InQubeta’s goal is to revolutionize the way AI startups raise capital and interact with their communities.
QUBE boasts a deflationary token model, making it one of the best cryptocurrencies to invest in for long-term investment. A 2% tax on all buys and sells contributes to a burn wallet, bolstering the token’s value over time. Additionally, a 5% sell tax feeds a dedicated reward pool, allowing token holders to earn rewards via staking.
NFTs for AI Startup Fundraising: InQubeta’s NFT marketplace enables AI startups to raise funds by offering reward and equity-based NFTs, making it a top choice among the best crypto coins to buy now. QUBE token holders can conveniently invest in projects they support through this marketplace, fostering a mutually beneficial ecosystem.
QUBE is built on the Ethereum blockchain, harnessing Ethereum’s smart contract capabilities to establish a transparent and secure investment environment for AI startups and investors. InQubeta plans to expand to multiple blockchains in Q1 2024 to enhance accessibility and diversity within its investment ecosystem.
The platform features a buy tax of 5% and a sell tax of 10%, benefiting both token holders and the InQubeta community. A portion of these taxes goes to initiatives such as staking rewards, liquidity provision, marketing, and token burn, fostering a transparent and democratic investment ecosystem for AI startups. This makes it one of the best defi crypto options with a strong community focus.
Conclusion
With the imminent Bitcoin halving in 2024 capturing the attention of miners and enthusiasts alike, predictions and opinions abound regarding its impact. Amidst these discussions, projects like Render and InQubeta are making headlines with noteworthy developments, indicating the potential for significant shifts in the crypto market landscape.
