Bitcoin (BTC) started 2024 with a bang and continued its growth for a few days before sliding. The uptick in Bitcoin’s price was mainly due to excitement over the launch of spot Bitcoin ETFs in the US and the phenomenal response they received.
As the craze around the funds receded later, experts couldn’t dismiss their impact on Bitcoin’s price which also slid. However, it wasn’t long before Bitcoin bounced back. Analysts attributed its retreat to multiple factors including the anticipation of lower interest rates in the US.
Notably, Bitcoin’s bounce back was also accompanied by a decline in Ethereum‘s (ETH) price. After the success of Bitcoin ETFs, Ethereum ETFs were expected to be the next to debut in crypto markets.
In the altcoin category, InQubeta (QUBE) became one of the biggest gainers recently as it impressed investors with its presale growth. The Ethereum-based platform provides investment opportunities in AI-centric startups. In 2023, its presale success made it one of the best new ICOs of the year. Its current presale funding stands at $8.6 million.
Here’s how InQubeta Supports AI startups
InQubeta’s USP is that it simplifies business development for AI startups. As a growing enterprise, a startup might not have a lot of resources but with InQubeta they can overcome the challenge and scale ahead.
They can connect with investors, mentors, and financial advisors on the same platform. The platform has created a native cryptocurrency called the QUBE token, for all kinds of sales and purchases.
The top altcoin powers InQubeta’s decision-making process by giving token holders voting privileges. These rights are used when proposals for protocol upgrades or the addition of new features are put to a vote. With a voting process, InQubeta seeks the approval of all community members and encourages them to participate in decision-making.
InQubeta connects startups with investors through a transparent NFT portal. Here crypto users invest in AI projects by buying the corresponding NFT. The tokenized assets can be bought in parts too with QUBE tokens.
Dormant pre-mine Ethereum address activated after eight years
Rated as one of the top cryptos to invest in, Ethereum is a decentralized technology that can be used to create dApps, blockchains, and DeFi assets.
Its native cryptocurrency ETH is used for settling all kinds of payments on the platform. The proof-of-stake platform has been in the news due to its upcoming Dencun upgrade, which aims to fix issues like high transaction costs for Layer 2 networks.
The ETH token faced a minor setback due to negative price action as the investor sentiment post-BTC ETF fizzled out. However, it still managed to hit the headlines after a dormant Ethereum wallet transferred 100 ETH tokens.
According to reports dated February 4, 2024, the dormant pre-mine Ethereum address was activated after it sent 100 ETH tokens to different addresses.
Velar develops tools to tap into Bitcoin
As the first cryptocurrency to be created, Bitcoin has a special place in the crypto markets. The permissionless digital currency today is used across the world for seamless online payments which are duly confirmed through an algorithm.
Its native token, BTC, is a leading decentralized asset that became a household name after the rollout of spot ETFs in the US.
These ETFs made regulated access to Bitcoin easier and enabled more people to explore its potential. Bitcoin ETFs debuted in US markets in January and since then have clocked record net inflows. The development also pushed the Bitcoin price. Later, as the craze around ETFs reduced, so did the cryptocurrency’s price. However, much to crypto users’ relief, it was quick to bounce back.
In a recent development, crypto trading platform Velar announced that it will be working towards boosting the Bitcoin DeFi scene. The company’s CEO Mithil Thakore stated that the company is working on a perpetual swaps exchange to leverage the Bitcoin network.
Velar had recently raised over $3.5 million in funding, and it would be using it to create a suite of tools for Bitcoin’s DeFi ecosystem.
Conclusion
The road to finding the best cryptos might not be easy, which is why we have experts to help us. If you listen to what experts are saying, InQubeta, Bitcoin, and Ethereum are among the strongest performers in the market today. Analysts suggest that they are likely to build up on their recent gains for an extended price rally.
For the average investor, these cryptocurrencies combine the simplicity of DeFi with the potential of blockchain. They are easy to understand and help you create passive wealth while giving you a diversified portfolio.
