The launch of Bitcoin (BTC) exchange-traded funds (ETFs) has catalyzed the DeFi investment scene by promising more regulated access to the cryptocurrency.
Following a green light from US regulators, 11 ETFs opened to a phenomenal market response in January this year. These financial products eliminate the hassle of holding Bitcoin directly and enable more users to explore the crypto market.
One can gauge the popularity of ETFs from the fact the Grayscale Bitcoin Trust (GBTC) recently saw its outflows dip to a new low, hinting at a possible rise in the net inflows of Bitcoin ETFs. According to reports, GBTC outflows slid to $145 million on February 2, 2024.
In other news, InQubeta (QUBE) emerged as the market’s top gainer after leaving investors impressed with its presale success. It was launched last year, and it quickly made its way to the best altcoins for 2023 with its presale growth.
Supporting AI innovation with DeFi
InQubeta has been steadily making progress as a new-age crowdfunding platform. By removing the hurdles that startups usually encounter while raising funds, InQubeta helps them to scale their businesses seamlessly with the right guidance. All transactions on the platform are powered by its native cryptocurrency, the QUBE token.
The Ethereum-based platform matches AI-focused startups with investors through an NFT marketplace. So far, its cryptocurrency ICO has raised around $8.6 million.
One of the top cryptos to invest in today’s market, the QUBE token has a staking mechanism. Staking is a popular way to earn passive income in the crypto community.
Token holders can stake their assets, and they are locked in liquidity pools. The assets then support the platform’s growth. The owners will earn rewards throughout the staking period.
On InQubeta, a rewards pool has been set up for staking, and it’s financed by tax proceeds. The feature is an opportunity where crypto users can sit and relax while their assets work for them.
InQubeta’s launch has been a game-changer for the AI startup space as it makes key services more approachable for budding entrepreneurs.
These services empower AI startups by ramping up their businesses. With InQubeta, they can meet veterans from the AI sector and be mentored by them. Through their guidance, startups can avoid common mistakes while scaling their enterprises.
The platform also has a group of trusted advisors to dole out accounting and finance-related support. The service can help a company identify legal or financial headaches and find a solution for them.
InQubeta has a marketing-focused service that helps a startup make the right noise about their brands. The more people hear about a company, the more likely they are to explore it. By tapping into InQubeta’s social media channels, innovators can amplify their brand reach.
Bitcoin’s on-chain volume hits $1.21 trillion in Jan 2024
Bitcoin is a peer-to-peer cryptocurrency that can power quick and secure online payments. Transactions made with its native cryptocurrency BTC are authenticated with the proof-of-work consensus protocol.
The cryptocurrency’s popularity broke records this year after the launch of spot Bitcoin ETFs in the US. These financial products debuted to an unprecedented response from investors. Investing in BTC ETFs enables one to increase their exposure to the crypto market without owning Bitcoin.
These ETFs have unlocked new milestones not just for Bitcoin but for the entire crypto market. Earlier on February 2, 2024, the Grayscale Bitcoin Trust (GBTC) saw its outflows hit a new low of $145 million. The decrease in outflows indicated a possible uptick in the net inflows of ETFs.
According to reports, in January 2024, the on-chain volume of Bitcoin reached $1.21 trillion, which is its highest for any month since September 2022. The figure is also three times the on-chain volume recorded in September 2023 for the cryptocurrency.
Conclusion
InQubeta and Bitcoin have been braving competition from new altcoins with their growth-oriented models to emerge as leading cryptocurrencies in today’s market. Their consistent rise is indicative of their growth potential and ability to diversify portfolios.
Their code architecture has been designed keeping in mind the evolving nature of the blockchain industry. InQubeta even has an open-source code that can open up numerous opportunities for developers.
Accumulating tokens during the presale stage can potentially yield huge profits in the long term. However, buyers must carefully evaluate a project before making an investment decision.
