Ethereum (ETH) might be one of the best altcoins to invest in right now due to the likelihood of spot exchange-traded funds being launched in May 2024. The second-largest cryptocurrency exchange around, Coinbase, has filed a 27-page letter to the U.S. Securities and Exchange Commission (SEC), formally asking for the approval of Grayscale’s request to convert its Ethereum Trust product into a spot ETF.
The approval of a spot Ethereum ETF would send prices skyrocketing, as trillions become available for investment. Some analysts have ETH prices reaching $6,500 if exchange-traded funds are approved this year.
One of the cryptocurrencies built on the Ethereum network, InQubeta (QUBE), is also positioned to enjoy substantial growth. The project sticks out from other top ICOs because of the inventive way it uses blockchain technology to open up access to artificial intelligence (AI) investments. Its presale has already generated $10.4 million in token sales while earning early investors 264% returns. QUBE is currently priced at $0.0245 as it enters the eighth stage of its ICO.
AI-crypto InQubeta (QUBE) emerges as the top new DeFi project to invest in
InQubeta’s presale success is credited to factors like the tokenomics that govern its ecosystem, its democratic model, and the creative way it connects emerging AI startups with investors.
QUBE is the project’s governance token and native currency, and it has emerged as one of the top altcoins to buy now. Its circulating supply is limited to 1.5 billion and marketplace taxes fund burn pools to reduce the supply further, increasing demand for QUBE. This gives QUBE lots of growth potential in the coming years and some analysts have gone as far as to compare it to where Bitcoin (BTC) was a decade ago.
QUBE prices are expected to grow exponentially once its ICO concludes and tokens are available on exchanges. Prices could exceed $1 at the end of the year as its market cap grows.
QUBE is also the project’s governance coin, so all holders get to vote on issues that affect the ecosystem’s future and suggest ideas. Holders can stake their QUBE to earn more as their reward for helping to run the investment space.
Investors will also be able to use QUBE to buy non-fungible tokens (NFTs) that are digitized proof of equity-based investment opportunities once the marketplace is launched. Some of these tokens also offer rewards like profit-sharing.
The NFTs sold on the marketplace are created by AI startups seeking capital. These tokens perform a similar role to stocks in traditional markets.
Coinbase makes its case for Ethereum ETFs
Pau Grewal, Coinbase’s Chief Legal Officer went over some of the reasons an Ethereum ETF should be approved in his 27-page letter to the SEC. One of the points he brought up was Ether being classified as a commodity, an important distinction for legal compliance.
He also pointed out the proof-of-stake protocol the Ethereum network now uses and how it mitigates manipulation and fraud.
Quant (QNT) prices trending upward once again
Quant prices went as high as $149 at the end of 2023, but they’ve now pulled back. However, its trading volume has grown by 65% in the last week, and bull patterns are once again forming on price charts.
Monero has grown 17% in the last seven days
Monero didn’t benefit much from the cryptocurrency boom that occurred during the last few months of 2023, but its prices have surged 17% in the past week. Factors like its 10-day exponential moving average at 125.90 indicates more growth is likely to occur.
Summary
QUBE, ETH, QNT, and XMR are some of the best cryptocurrencies to invest in right now. All four are currently enjoying price surges, but QUBE is expected to outgrow the other projects thanks to the inventive way it plans to connect investors with AI firms.
