Investors Raise Concerns About Ethereum’s Expensive Transaction Fees
In recent news, Ethereum is facing growing criticism from investors due to its high transaction fees. The soaring fees have prompted discussions within the crypto community, and investors are now seeking alternative projects to invest in. Chainlink and InQubeta are emerging as the top choices for investors as they prepare for significant developments. Let’s take a closer look at these three projects.
Ethereum’s gas fees have experienced a staggering 1,900% increase in recent weeks. This surge was triggered by Binance reactivating dormant wallets, causing fees to skyrocket from 15 Gwei to nearly 300 Gwei in a sudden burst of transactions.
One contributing factor to the surge in gas fees was a new NFT project called Buterin Cards, which accounted for around 13% of Ethereum network gas fees. This surpassed fees from well-known addresses such as Tether and Uniswap.
The Buterin Cards project aimed to release 2,015 trending NFTs as a tribute to Ethereum’s co-founder, Vitalik Buterin. However, as gas fees continue to rise, users are exploring alternatives like Cardano, Solana, and BNB Chain, which offer lower fees and faster transaction speeds.
The crypto community has taken to social media to express frustration over Ethereum’s expensive gas fees. Users are questioning the practicality of using Ethereum when transaction costs sometimes exceed the value of the transactions or the cost of the NFTs themselves.
While Ethereum grapples with rising concerns, Chainlink has made a significant announcement with its Cross-Chain Integration Protocol (CCIP). This new protocol aims to revolutionize cross-chain integration by enabling secure asset transfers between different blockchains. By addressing the challenges associated with cross-chain bridge hacks, CCIP offers a multi-network approach, time-locked upgradability, rate limiting, and independent risk management.
Chainlink’s native token, LINK, has recently been trading around $15 and has witnessed a 100% surge since the end of October. Analysts are optimistic, predicting a valuation of $100 per LINK before the end of 2024. With collaborations with SWIFT and traditional institutions, Chainlink aims to become the go-to solution for cross-chain integration, potentially increasing its market cap to $56 billion.
InQubeta (QUBE) is also making waves in the crypto space with its innovative approach to AI startup funding. The platform offers a transparent and democratic ecosystem for investors and AI startups, going beyond conventional funding models. Through the use of blockchain ICO, InQubeta introduces fractional investments through its native QUBE tokens, bridging the gap between the crypto and AI realms.
InQubeta takes its AI funding to the next level by integrating NFTs into its marketplace for AI tech startups. This unique integration allows startups to gain exposure to a diverse community of potential backers by listing investment NFTs. It fosters collaboration by connecting investors with promising AI ventures and providing startups with a platform to showcase their potential.
As InQubeta prepares to become a multichain entity in the first quarter of 2024, its transformative AI startup funding is set to break boundaries and enhance accessibility. The strategic use of blockchain technology, smart contracts, and a measured approach to token release positions InQubeta as a game-changer in the field of artificial intelligence.
The frustration surrounding Ethereum’s expensive transaction fees has investors searching for alternatives. Meanwhile, Chainlink and InQubeta are gearing up for significant advancements as they strive to become the top crypto coins to invest in. Stay updated on these exciting developments by joining the InQubeta community on Twitter or visiting their official website.
