Despite an extended period of gains, Bitcoin exchange-traded funds (ETFs) saw their popularity dip following outflows worth $87 million from ARK Invest’s fund.
Headed by Cathie Wood, ARK Invest was among the 11 companies that had launched spot ETFs in the US in January. Analysts are gauging how the development can impact Bitcoin which has been outperforming some of the best altcoins for 2024.
Meanwhile, the altcoin sector had a reason to celebrate as InQubeta (QUBE) continued to surge as its ICO clocked higher gains. Built on the Ethereum blockchain, the platform helps startups fund investors for their AI projects. Its cryptocurrency ICO has so far raised over $13.3 million which pits it as a rival to top names like Monero (XMR).
InQubeta: Building a DeFi-led future for AI startups
InQubeta is an ultra-modern fundraising platform where crypto users invest in commercial projects tapping into AI. The platform functions on a transparent model that brings investors and startups together. The pitch or proposal for a project is minted into an NFT and then sold on InQubeta’s online marketplace.
Every NFT stands for an AI-driven project and its sale proceeds are handed over to the startups. In exchange, the buyers will become owners of a small part of the startup’s equity. The NTFs can only be purchased with InQubeta’s native cryptocurrency, the QUBE token.
As the official medium of exchange within the InQubeta network, QUBE has a total availability of 1.5 billion. Though most of the supply is meant to be sold to the public to promote decentralization, 35% of it is also allocated for paying overheads, marketing expenses, legal fees, giving out staking rewards, and keeping liquidity levels steady.
InQubeta is also one of the best assets to increase generational wealth. The token can be staked to earn a steady passive income. When staked, crypto assets contribute to the network’s growth, securing it and stabilizing on-chain liquidity levels.
As a reward for their patience, the platform gives token owners rewards throughout the staking period. In other words, crypto users can earn with staking simply by owning a token.
BlackRock adds more names to its BTC ETF AP list
Set to become one of the top-performing assets of the year, Bitcoin is used worldwide for speedy and efficient cross-border payments. Its native token, BTC, is used for such digital transactions.
In the wake of factors like the launch of spot ETFs in the US, Bitcoin’s market capitalization is one of the largest in the DeFi sector. These financial products are helping more individuals to own cryptocurrencies in a regulated manner.
As these BTC ETFs draw record investor inflows, their parent companies are already looking at the future. BlackRock’s BTC ETFs hit the US markets earlier this year and it has added Goldman Sachs, Citigroup, and UBS as authorized participants (APs).
APs create liquidity by handling the creation and redemption of the fund. With the development, BlackRock’s iShares Bitcoin Trust will now have nine APs.
At the same time, these funds have also been the center of controversy. Recently, ARK21 Shares BTC ETF saw outflows worth $87 million on April 2, leading to a short-term bearish rally in the pioneering crypto’s price.
Monero to be available on Serai
A privacy-oriented blockchain asset, Monero offers enhanced privacy and efficiency while making international online transactions.
The proof-of-work platform’s native token is XMR. Despite the competition from new altcoins, it has maintained its popularity by leveraging cutting-edge privacy features.
The cryptocurrency was recently in the news after crypto exchange Serai announced that its users would now be able to trade XMR through its platform.
Conclusion
InQubeta, Bitcoin, and Monero are some of the top cryptos to invest in this year. These tokens have topped their strong growth with record adoption, thanks to their user-centric focus.
Analysts have also lauded their performance and pointed to their recent achievements to highlight their potential. These experts build their case with Bitcoin which has risen unprecedentedly after the launch of spot ETFs in the US.
Recently, BlackRock added three corporate giants to the list of authorized participants for its ETF.
Monero has made similar strides following its integration with crypto exchanges like Serai.
In InQubeta’s case, its biggest flex has been its crowdfunding model for AI projects. The AI space has few resources that can be as easily accessed as InQubeta. The platform is empowering startups and their investors while paving the way for new-age AI projects.
