The crypto sector currently seems to be smitten by the benefits of Bitcoin ETFs. On January 10, the US Securities and Exchange Commission gave its approval for the rollout of 11 spot Bitcoin ETFs and there’s been no looking back since.
There have been record investor inflows as the funds guarantee more exposure to Bitcoin without requiring one to buy it.
The interest in ETFs has also led analysts to wonder if Ethereum (ETH) ETFs are next in line. Given the strong market position of the cryptocurrency, experts suggest that there’s a strong possibility for an Ethereum ETF to make a debut. The speculation has also prompted a spike in Ethereum prices and it even outperformed Bitcoin.
Apart from Ethereum, the steady rise of InQubeta (QUBE) and Cardano (ADA) has been the subject of much interest among crypto enthusiasts.
The uptick in their prices has made them much sought-after. For InQubeta, the interest is a result of its offerings and presale success. Its cryptocurrency ICO has so far collected over $8.4 million.
InQubeta: Nurturing AI startup talent
InQubeta is an accessible and fuss-free option to raise funds for AI-led projects. The fundraising is arranged through a transparent model where startups and investors interact through NFTs.
These NFTs are minted from offers submitted by startups for interested investors. By evaluating these NFTs, buyers get to know what kind of benefits are in store for them if they get involved.
The payment for NFTs or any other kind of transaction is settled via InQubeta’s native cryptocurrency, the QUBE token.
Built on the ERC-20 standard, the QUBE token has a cap on its availability of 1.5 billion. Though more than 50% of the supply is allotted for public sale, its availability in the market may change according to market conditions.
The fluctuating supply of the token can be attributed to its deflationary feature. The characteristic protects token returns by limiting the asset availability. So, when inflation is high, one might find it difficult to buy the QUBE token due to a shortage. The lagging supply encourages demand while driving up the token value.
If the supply rises unexpectedly, it’s reduced again by destroying excess tokens.
Keeping an eye on the future, the InQubeta team has created a roadmap for the platform’s future development. It plans to unveil new features, get the token listed on exchanges, and roll out a staking dApp in the coming months. The additions can help InQubeta surge ahead despite competition from new altcoins.
Cardano among CV VC’s Top 50 blockchain projects
Cardano is a blockchain platform that’s powered by the Ouroboros protocol and offers tools to create decentralized solutions.
Cardano’s native token ADA is the primary cryptocurrency of the ecosystem. All ADA transactions are validated using the proof-of-stake consensus algorithm.
It’s a top crypto to invest in that has proved its mettle by performing steadily throughout the year. Based on market trends, analysts suggest that ADA token holders accumulate their holdings so that they do not miss out on Cardano’s future gains.
The platform recently unlocked a new milestone after it was featured among the Top 50 blockchain projects in a report by CV VC. The CV VC Top 50 Report compiled the list after evaluating market prospects and funding data received by blockchain projects in 2023.
Ethereum is likely to have lower gas fees for rollups
Known for its ability to support a multitude of solutions, Ethereum is a versatile and decentralized technology. Being a proof-of-stake platform, it’s a sustainable blockchain with ETH as its native token.
Given the rich returns that people registered after investing in BTC ETFs, analysts expect Ethereum ETFs to be rolled out soon. The anticipation has helped Ethereum rise and surpass Bitcoin.
Ethereum’s popularity has also picked up following reports that the network is expected to reduce gas fees for Layer 2 rollups when its Dencun upgrade goes live on the mainnet in 2024.
Conclusion
After being named the best altcoins of 2023, InQubeta, Cardano, and Ethereum are likely to repeat history this year too. They started 2024 on a strong note and have been progressively adding more numbers to their communities.
They sport cutting-edge features that make DeFi more approachable to people, while their robust security system ensures that their assets are well protected.