With the Bitcoin (BTC) halving event approaching, the token has been increasingly volatile, fluctuating around the $64,000 mark. BTC ETFs have recently been experiencing outflows, with all ten witnessing collective net outflows. Grayscale suffers the most, recording steady withdrawals as their BTC ETF holdings deplete. Altcoins on the DeFi crypto list are also suffering from this volatility.
A new altcoin is drawing the attention of the crypto market as investors look for reliable alternatives. This new AI-driven coin, InQubeta (QUBE), is gaining widespread recognition after raising $13.6 million. The token airdrop is set to occur soon, and while early adopters anticipate their assets, others want to learn about this innovative project and its offerings. This article explores Grayscale’s outflows and InQubeta’s appeal as one of the top 100x gems.
InQubeta (QUBE): Trending AI-Driven Blockchain Opportunity
InQubeta, a leading project on the DeFi crypto list, is preparing for its long-awaited launch. The project has gained attention for its affiliation with the artificial intelligence industry, granting investors opportunities to support the growth of AI tech startups while benefiting mutually. This emerging crypto coin has been termed the future of AI on the blockchain, with its unique crowdfunding model requiring these startups to mint their opportunities into non-fungible tokens (NFTs) listed on the platform’s marketplace.
One major allure that firmly places InQubeta in the list of 100x gems is its fractionated investments. The NFTs on the platform are fractionalized, allowing users to buy irrespective of their budgets and diversify their portfolios across multiple startups. The number of users ready to adopt the project’s offerings is high, with several looking forward to staking opportunities on the platform.
The emerging crypto has proposed its listing at $0.0308 per token, offering the earliest investors who bought at $0.007 apiece an astounding 340% increase before launch. The project has undergone meticulous auditing from top cybersecurity firms, Hacken and Block Audit.
The newly minted QUBE tokens will be released into circulation gradually in line with the platform’s vesting schedule. Airdrops, which will begin on May 14 and run for 12 weeks, will dispense tokens to all early buyers. The project intends to ensure transparency and control through this mechanism while mitigating price drops and instability. InQubeta trades on the centralized exchange (CEX) MEXC and the decentralized exchange (DEX) UniSwap.
Bitcoin (BTC): Increasing Spot ETF Outflows
The Grayscale Bitcoin Trust (GBTC) recorded outflows of $101.1 million on April 15, slightly different from the $166.2 million outflows recorded the previous day. This figure puts Grayscale’s historical net outflow at $16.8 billion and over $767 million in the past week. The continuous bleeding of Grayscale’s assets has affected the overall spot BTC ETF market, dampening its inflows significantly.
BlackRock Bitcoin ETFs recorded $73 million in inflows amid this declining interest, showing that the Spot ETF market is not doomed. Analysts hint that BlackRock might benefit largely from Grayscale’s continuous outflows. In an address last week, Grayscale’s CEO, Michael Sonnenshein, hinted at the persistent selling pressure leveling down after some time.
Conclusion
More investors are still determining whether to trust optimistic analysts who predict an uptrend or those who suggest a slight downturn for BTC prices. The halving could turn the tables, causing even more inflows into the BTC ETFs, or have a contrary effect. InQubeta investors are having a great time as they await vesting and the project continues to develop. With airdrops in view, more growth is predicted for this token in the coming months.
