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The crypto community rang in the New Year on a positive note when the US SEC approved spot bitcoin exchange-traded funds (ETFs) on January 10. In the first 30 minutes of trading the next day, the batch of 11 spot bitcoin ETFs gained a combined $1 billion, according to market data.
The move came after the applicants faced several regulatory challenges in rolling out the product. By investing in these ETFs, individuals and institutions can increase exposure to bitcoin without owning the cryptocurrency.
Meanwhile, InQubeta (ai?utm_source=PR&utm_medium=organic&utm_campaign=crn&utm_content=136″ rel=”noreferrer noopener”>QUBE) is attracting widespread attention in the ongoing pre-sale, which has raised more than $8.3 million. Launched in 2023, the ethereum platform helps startups raise funds for their ai-based projects.
InQubeta: helping ai startups build a brand
ai?utm_source=PR&utm_medium=organic&utm_campaign=crn&utm_content=136″ rel=”noreferrer noopener”>InQubeta is a decentralized platform that offers all the resources an ai startup needs to build a brand. From raising funding to mentoring to legal and marketing support, InQubeta helps startups scale.
The InQubeta network carefully selects startups that align with its vision. The platform mint offerings submitted by the startups as NFTs, which are available for purchase on an online marketplace.
The platform provides a transparent portal for investors to evaluate initial projects before investing. Fractional investing is also available, allowing investors to spread their investment funds across 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 intended to cover operating expenses and the rest for public sale.
Staking can be done on QUBE, increasing the platform's liquidity levels and supporting its growth.
The platform uses tax collection to maintain the pool of rewards for staking, and the rewards increase as the asset is staked for a longer period.
QUBE is also deflationary. This mechanism protects against the impact of inflation. This can help stabilize prices. If there is an increase in the supply of tokens, the protocol burns them.
The token burning mechanism is also used to curb internal inflation. When tax collection is high, a portion of the revenue is burned to prevent supply from increasing.
bitcoin Spot ETFs Attract $4.6 Billion
bitcoin remains the leading digital asset despite the emergence of new altcoins.
bitcoin's strong performance comes following the approval of bitcoin spot ETFs by the US SEC. This development could make bitcoin a mainstream financial instrument.
Following SEC 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 January 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 pace with technological advances 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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