Bitcoin ETFs Acquire 95K BTC, Reach $4B in Assets; Notable Upswing Predicted for Polkadot and InQubeta

Spot Bitcoin (BTC) exchange-traded funds have taken the market by storm with their performance. On January 10, US regulators approved the launch of 11 Bitcoin ETFs in the country. Within six trading days, these ETFs had acquired 95,000 Bitcoin tokens and the assets under management crossed $4 billion. 

In the altcoin space, InQubeta (QUBE) and Polkadot (DOT) were two coins that equaled the craze around ETFs. The two tokens have been posting sustained growth and are likely to go a lot higher in the coming months, according to market experts. 

While Polkadot is a multi-chain platform for data and asset transfers, InQubeta is a fundraising facility for AI-led projects. 

This is not the first time that InQubeta has been in the news. Earlier, it was hailed as one of the best new ICOs due to its presale success. So far, its ICO has raised over $8.6 million.

InQubeta: Ramping the impact of AI startups

InQubeta facilitates seamless fundraising for AI projects with its NFT marketplace. The NFTs sold at the portal represent the startup’s projects and they are bought with the platform’s native cryptocurrency, the QUBE token.

The QUBE token is a top crypto to invest in as it’s largely immune to market forces, all thanks to its deflationary character. The model tightens the supply of the token when markets are turbulent or inflation is high. As the supply lags while demand is high, the price of the asset stays stable. The lack of price fluctuations gives it an edge over other asset classes. 

If the InQubeta team finds the supply is rising, they use the burn mechanism to burn the excess tokens.

Once the fundraising is taken care of, startups can look forward to growing their business to new heights with InQubeta. They can seek accounting support from a team of advisors if they find themselves in a financial tangle. For guidance on how to solve AI sector-specific problems, they can get advice from veterans of the field and get mentored. 

The other service that InQubeta provides is social media support. Using its online channels, enterprises can let more people know about their brand. To make their marketing strategies more effective, they can connect with professionals from varied sectors with InQubeta.

The InQubeta team has plans to boost the platform’s outreach with a roadmap for the future. These initiatives are planned to keep up with the Web 3.0 development and make InQubeta accessible. 

To make its staking service more approachable, the team will be introducing a staking dApp in the coming months. Meanwhile, there are plans afoot to get the QUBE token listed on centralized exchanges so that more crypto users could benefit from it. 

China-based fund company files Bitcoin ETF application

Bitcoin is a permissionless digital currency that is used for online payments. Transactions made with its native token BTC are authenticated with the proof-of-work algorithm.

BTC popularity has picked up significantly after the debut of Bitcoin spot ETFs in the US markets in January this year. The investor sentiment post BTC ETF was positive as the funds attracted large trading volumes. 

According to reports, these ETFs acquired 95,000 BTC tokens within six days of their market launch. Collectively, they had assets worth $4 billion under their management.

That’s not the end of the ETF story. The craze around BTC ETFs is now spreading beyond the US. China-based Harvest Hong Kong recently applied to launch its Bitcoin ETF. The fund company submitted its application to the Hong Kong Securities and Futures Commission. As per reports, the firm plans on launching the ETF after the Lunar New Year.

Polkadot’s application wallet launches beta version

Polkadot is a decentralized network of sovereign blockchains called parachains which facilitate the transfer of data and assets. Its native token is DOT. The top altcoin has been receiving favorable reviews from analysts as they suggest that it’s headed for a bull rally.

Polkadot is known for its decentralized ecosystem and parachains that allow dApps to be deployed easily. It is favored by developers due to its decentralized features and ready-to-deploy SDKs. 

The blockchain was in the news after its wallet application Talisman Wallet rolled out Signet’s beta version. Signet is a multisig and workflow management solution for on-chain organizations.

Conclusion

If you look back at 2023, InQubeta, Bitcoin, and Polkadot were among the best cryptos of the year. These tokens have continued with their pace in 2024 as well and have left crypto enthusiasts impressed with their uptrend.

It’s not just their present-day performance that’s impressive. As per analysts, these coins can fetch long-term returns too due to their unique utilities. These cryptocurrencies use leading blockchain audit companies to review their security frameworks and ensure that their assets are well-secured.

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