Following the long battle between the SEC and Ripple (XRP), regulations for tokens on the decentralized cryptocurrency list have become critical. Under this narrative, the top altcoin, Ethereum (ETH), is drawing attention as Prometheum, the first authorized crypto securities platform in the US, announces plans to provide custodial services for the token. This move is set to challenge the SEC’s stance, as Ethereum remains shrouded in ambiguity about whether it qualifies as a commodity or security.
Other altcoins in the market continue to rally despite investors’ reservations regarding Ethereum. Chainlink (LINK) marks its sixth month of ascent with a steady increase in its market value. The emerging AI altcoin, InQubeta (QUBE), attracts investors as it maintains a trajectory that puts it on the path to outperform Chainlink. Its revolutionary model is made possible using digital assets, turning each opportunity into a non-fungible token (NFT). This article explores Prometheum’s move and the paths of two top altcoins.
InQubeta (QUBE): Revolutionizing Crypto Investing With Fractional NFTs
The emerging crypto coin, InQubeta, is at the forefront of a groundbreaking revolution as it offers unique investment opportunities on the blockchain. Backed with NFTs, the project allows investors to enjoy a fractionated approach to crowdfunding, removing the need to own whole NFTs to invest in digital assets. InQubeta proposes a new asset class where investors can enjoy accessibility and affordability, holding utility in AI tech startups without huge budgets.
InQubeta tops the decentralized cryptocurrency list with a trending presale selling out quickly. The project has raised over $9.6 million, selling 800 million tokens. The ICO is in its seventh of ten stages and sells at $0.0224 per QUBE token, a 220% increase from the initial stage. Over 93% of tokens have been sold, with investors anticipating a nearly 14% increase to $0.0255 when the project enters the eighth stage.
InQubeta unlocks a world of possibilities on the blockchain. Aside from earning passively from the growth of AI tech startups, emerging crypto offers a means for investors to earn through staking. A dedicated rewards pool funded by a 5% sell tax and a 2% buy tax allows holders to gain when they stake their native tokens. This activity could introduce scarcity, driving demand and market value upwards.
Ethereum (ETH): Negative Sentiments Around Custodial Operation
The pioneering crypto firm Prometheum, which only recently acquired permits from the Financial Industry Regulatory Authority (FINRA) to commence custody services after clearing regulatory barriers, has announced its decision to launch a custody operation for Ethereum. Market sentiment for this move points to a litmus test, a challenge to test the SEC’s regulatory approach towards digital assets. Prometheum’s CEO, Aaron Kaplan, stated that the firm is set to deliver custodial services tailored to meet strict regulatory and compliance laws, starting with ETH.
Investors are skeptical about Prometheum’s move and what it could mean for Ethereum. With deliberations for the spot ETH exchange-traded fund (ETF) still ongoing, tensions are heightened as traders wonder how this custody challenge could affect the SEC’s decision. This new attention could also put ETH on the SEC’s radar, leading a similar battle for a definitive classification for the token.
Chainlink (LINK): The Leading Cryptocurrency Oracle Network
Chainlink has been termed a top-performing token for 2024 following its persistent rise over the past six months. The token has had a remarkable ascent from a low of $5.6 and is now coasting around the $20 range, delivering incredible returns to early investors. Analysts have predicted a continuous uptrend for the LINK token and a potential surge to $35 shortly.
On-chain metrics signify a further increase in the LINK price. Active addresses on the network surged in February, hitting 6,493 in the first week. New daily active addresses have also increased, recording a 12.27% surge, which signifies a boost in Chainlink network activity. A third metric is a decrease in the supply of LINK tokens on exchanges, up to 4%, decreasing the selling pressure and hinting at an optimistic outlook for its trajectory.
Conclusion
As the crypto market looks skeptical as investors and traders anticipate the after-effects of Prometherum’s decision, Ethereum maintains an upward rally, showing green on the charts. Chainlink and InQubeta record price surges as their market sentiment remains positive. InQubeta’s market cap has crossed another milestone, causing investors to gain more interest in its NFT offerings. With a 37.5% ROI from this presale stage, the project is set to deliver impressive returns upon launch.
