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The crypto community rang in the New Year on a positive note as the U.S. SEC approved spot Bitcoin exchange-traded funds (ETFs) on Jan. 10. Within the first 30 minutes of trading the next day, the batch of 11 spot Bitcoin ETFs raked in $1 billion collectively, as per market data.
The move came after applicants battled several regulatory challenges to roll out the product. By investing in these ETFs, individuals and institutions can increase exposure to Bitcoin without owning the cryptocurrency.
Meanwhile, InQubeta (QUBE) is garnering widespread attention in the ongoing presale, which has raised over $8.3 million. Launched in 2023, the platform on Ethereum helps startups raise funds for their AI-based projects.
InQubeta: helping AI startups to create a brand
InQubeta is a decentralized platform that offers all the resources an AI startup needs to build a brand. From securing funding to mentorship to legal and marketing support, InQubeta helps startups scale.
The InQubeta network carefully selects startups that align with its vision. The platform mints the offers submitted by startups as NFTs, which are available for purchase at an online marketplace.
The platform provides a transparent portal for investors to assess startup projects before investing. Fractional investment is also available, allowing investors to distribute their investment funds among different projects.
All purchases, payments, and taxes are settled in the platform’s native QUBE token, with a total supply of 1.5 billion. Of this, 35% is set aside for meeting operational expenses and the remaining for public sale.
QUBE can be staked, which pumps up the platform’s liquidity levels and supports its growth.
The platform uses tax collections to maintain the reward pool for staking, with the rewards increasing as the asset is staked for a longer period.
QUBE is also deflationary. This mechanism guards against the impact of inflation. This may help stabilize prices. If there is an uptick in token supply, the protocol burns tokens.
The token burn mechanism is also used to curb internal inflation. When tax collections are high, a portion of the proceeds is burned to prevent the supply from increasing.
Spot Bitcoin ETFs draw $4.6 billion
Bitcoin remains the top digital asset despite the emergence of new altcoins.
Bitcoin’s strong performance follows the approval of spot Bitcoin ETFs by the U.S. SEC. This development could make Bitcoin a mainstream financial instrument.
Following the SEC’s approval, the ETFs generated over $1 billion in trading volume in the first 30 minutes, rising to over $4.6 billion by the end of Jan. 11.
Analysts believe these figures reflect Bitcoin’s potential to become a mainstream asset class.
Conclusion
Investors can consider Bitcoin and InQubeta in 2024.
They reflect how decentralized finance (defi) has kept up with technological advancements and can drive financial independence on a global scale.
By harnessing the power of decentralization, they create community-driven crypto projects with secure frameworks.
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