The Bitcoin (BTC) spot exchange-traded funds were rolled out on January 10 after a long-drawn debate over the regulatory challenges for ETFs. However, these financial instruments trumped expectations and posted record returns.
However, as market trends show, they are finally coming down from record highs. According to analysts, the declining trend has had a direct impact on not only Bitcoin but also leading altcoins like Ethereum (ETH) and Dogecoin (DOGE). In recent days it has risen again, but the road ahead is likely to be rocky.
Despite the market volatility, one crypto drawing attention thanks to its stellar growth was InQubeta (QUBE). The platform assists startups in finding investors for AI-led projects and it has been making waves with its presale success.
InQubeta: Showing AI startups the way to success
InQubeta is a blockchain-powered service rolled out for startups tapping into the potential of AI. Using Ethereum’s capabilities, the platform can lead these budding enterprises to become financially empowered.
Its native cryptocurrency, the QUBE token, is used for settling payments and giving out incentives. With features like a deflationary mechanism, it’s one token that will end your concerns about what cryptos to buy now.
The platform has created a clear investment model for startups and investors to interact through the sale of NFTs. The NFTs are minted from the offers submitted by startups where all details of the project are mentioned. These tokenized assets can be bought in parts or as a whole with QUBE tokens.
After securing funding, startups go ahead and grow their business. However, if they encounter a challenge they can explore InQubeta’s business development services for help.
QUBE has received a lot of praise for its innovative utilities and passive income generation ability. InQubeta’s popularity has prompted many experts to include it in their best cryptocurrency ICO lists for 2024. Its ICO has so far raised over $8.5 million.
BlackRock Bitcoin ETF crosses $2 billion in AUM
Bitcoin is a globally used cryptocurrency that can be used for making quicker online transactions. The blockchain confirms all transactions conducted with its native token BTC using the proof-of-work protocol.
Its popularity surged due to the excitement around Bitcoin ETFs, especially after the SEC approved their rollout in the US. These ETFs clocked significant investor inflows. In fact, BlackRock iShares Bitcoin ETF even crossed $2 billion in assets under its management. BlackRock was among the 11 entities whose ETFs debuted in the US markets on January 10.
However, as the buzz around Bitcoin ETFs fades, Bitcon’s price has also been impacted. Analysts claim that the negative price action might be due to concerns about the legal aspects of the BTC ETF. It has since picked up again, but there is likely to be volatility ahead.
Developer launches 90s video game on Dogecoin
Dogecoin is among the most popular meme coins and is based on a Japanese dog breed. Its native token is DOGE, and the Dogecoin team has created a separate token called BONE for governance.
The Dogecoin price has been reeling under the overall impact of the volatility caused by Bitcoin ETFs, but it still has its share of fans.
In a recent development, the video game ‘Doom’ was launched on the Dogecoin blockchain. The move was the brainchild of a developer called ‘Mini Doge’ and he launched the 1993 game with inscriptions.
Ethereum developers set Feb 7 deadline for the final Holesky upgrade
Considered one of the best cryptocurrencies to buy in 2024, Ethereum is a blockchain technology that can be applied to create a wide range of solutions. It can power DeFi solutions like cryptocurrencies, NFTs, blockchains, and dApps. Its native cryptocurrency is ETH.
Although Ethereum has suffered due to the reduced interest in Bitcoin ETFs, analysts expect the token to pull through over time.
The Ethereum network has been in the news recently because of its upcoming Dencun upgrade which will activate its ‘proto-danksharding’ feature. The upgrade will reduce transaction costs on Layer 2 networks and boost the availability of cheaper on-chain data.
According to reports, Ethereum’s team of developers has set a February 7 deadline for giving final touches to its Holesky network.
Conclusion
With the crypto sector starting 2024 on a cheerful note, all eyes are on the altcoins to watch out for. For analysts, InQubeta, Bitcoin, Ethereum, and Dogecoin are coins that will trend and might post record rallies soon.
The optimism can be accredited to these tokens’ consistent and robust growth. Backed by great utilities and high growth potential, these tokens can expand the reach of the crypto sector while enabling more people to explore the opportunities they represent.
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