It’s been a wild week in crypto after thousands of positions worth up to $670 million were liquidated. Plus, Celestia and InQubeta are the new gems in the market and have whales investing in droves – here are more details on each situation to give you a clearer picture of what’s going on.
$670 Million In Liquidations Leave Investors Lost
After a strong start to the year, Bitcoin (BTC) and altcoins are weathering a sharp correction which has caused over $670 million in liquidations in mere hours.
Traders suffered $670 million worth of liquidations, with the overwhelming majority being traders who were positioned long while markets corrected.
Bitcoin fell over 8% from $45,469 to $41,805 in about 3 hours, while Ethereum and other altcoins dropped more sharply. The drop seemed to be a final fake-out to liquidate positions before the ETFs were due to get approved.
Earlier in the week, there was still controversy about the approval status of these ETFs. In a paper titled “Why the SEC will REJECT Bitcoin Spot ETFs again,” Matrixport says there is no logical reason to expect SEC Chair Gary Gensler, who has been vocal about crypto needing tighter regulations, to vote in favour of an ETF.
Yet all this controversy is now in the past, as the SEC has officially approved all spot Bitcoin ETFs – and trading is expected to begin immediately with $4 billion in liquidity to enter the market on the very first day of implementation.
Celestia, The Choice For You?
Celestia lets you deploy your own blockchain in minutes, as easily as a smart contract. You can also use any VM and access dynamic throughput and lower costs.
In short, Celestia is a modular data availability (DA) network that securely scales with the number of users, making it easy for anyone to launch their own blockchain and is quickly becoming one of the best altcoins to buy in the market.
Rollups and L2s use Celestia as a network for publishing and making transaction data available for anyone to download. For them, Celestia provides high-throughput DA that can be verified easily with a light node.
And by making the blockchain stack modular, anyone can launch their own blockchain without needing a validator set.
Is this project right for you, or maybe you’re more interested in AI?
InQubeta Is Leading The Way To An AI Revolution
At its core, InQubeta’s platform introduces a brand new aspect to the crypto world suitable for beginner cryptocurrency enthusiasts and experts alike – and that’s the concept of fractional investment. This is made possible through the QUBE token, an ERC20 that is deflationary by nature, beautifully blending blockchain and AI.
Through the democratisation of investment via fractionalized NFTs, InQubeta effectively bridges the divide between traditional venture capital and an expansive community of AI enthusiasts. This synergy contributes to the acceleration of AI startup growth.
The linchpin of this transformative ecosystem is the QUBE token. Beyond its role as a medium of exchange, QUBE embodies a deflationary structure that encourages value appreciation and community involvement. An imposed 2% tax on both purchase and sale transactions contributes to a “burn wallet,” which gradually reduces the circulating supply, potentially enhancing the token’s value.
For those taking their first steps in the crypto world, InQubeta offers an excellent avenue to explore. Through their visionary platform, they’ve paved the way for a new generation of investors, blending the best crypto for beginners with groundbreaking AI-driven projects. Whether considering beginner cryptocurrency options or looking for the best cryptocurrency to invest in, InQubeta’s approach promises exciting possibilities for all.
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Conclusion
We are continuing to see excitement and controversy brewing as the new year gets underway and new narratives are born. Bitcoin is set to boom after the ETF approval, while other projects like Celestia and InQubeta are making great progress towards new highs in their respective charts. More to come on the horizon!
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