More than a month after they were launched, crypto exchange-traded funds continue to uptrend. Bitcoin ETFs raked in over $2.4 billion in investment over a week, according to reports on February 19, 2024.
The ETFs are being championed for increasing investors’ exposure to crypto assets without owning them. Their success has also paved the way for other cryptocurrencies to join suit.
The excitement around ETF acceptance criteria for future investment products happens to be among the macro trends that experts suggest could spark a bull rally. Other factors are stress in the banking sector and speculation over interest rates.
In the altcoin sector, analysts are looking forward to how InQubeta (QUBE) performs in the coming months. The platform has been designed to help AI startups raise funds.
InQubeta: Taking AI startups to new heights
InQubeta is a decentralized platform built on Ethereum to help AI startups with business development. The platform offers services ranging from fundraising to mentorship to accounting support and marketing.
By leveraging InQubeta’s services, startups can look forward to maturing into confident brands and changing the future of AI.
The platform’s native cryptocurrency, the QUBE token, can be used for accessing all these services. For crypto users, the token grants them access to InQubeta’s NFT marketplace where they can invest in AI-led projects. The offers submitted by startups for potential investors are tokenized into NFTs and sold at the portal.
InQubeta’s presale success has attracted many buyers. It also features among the recommended presales by analysts. So far, its ICO has raised over $9.9 million.
If a crypto user likes a project, they buy the relevant NFT with their QUBE tokens. Plus, the portal also allows fractional investments in NFTs.
The QUBE token is regarded as one of the top crypto coins because of its deflationary model. The model restricts the asset’s supply when the market is volatile or inflation is high.
The difference between the demand and supply drives the token value and curbs price fluctuations. If the token supply does rise, it is countered by burning all extra tokens in circulation.
Chainlink sees growth in Open Interest
Chainlink is a decentralized platform that facilitates the transfer of on-chain data from off-chain sources. Its native token LINK is used for all transactions on the network.
The Web 3.0 platform enables developers to create dApp with real-world uses. It’s powered by the Oracles protocol which facilitates seamless scaling of the network at low cost.
Chainlink is a good crypto to buy when you consider its achievements in the derivatives market. As per data collected by Santiment, there has been a significant increase in the derivatives market for Chainlink as the growth in its Open Interest shows.
On February 19, 2024, the blockchain analytics firm stated that the Open Interest metric for Chainlink had recently touched $549 million.
Open interest tracks the quantum of derivative contracts for any asset trading on centralized exchanges. If the Open Interest of an asset rises, it implies that investors are increasing their positions in the derivatives space.
Protodankshardng unveils new type of transactions
Optimism is a high-speed Layer 2 blockchain that is deployed on the Optimism mainnet and compatible with the Ethereum network. Its native token OP is one of the best crypto investments available in the market today.
Given how OP mainnet’s code architecture is of the same caliber as that of EVMs, developers can scale their dApps with Optimism at a lower cost.
Optimism was recently in the news after ‘proto-danksharding’ unveiled a new kind of transaction type called ‘Blob’. In binary language, Blob refers to the way data management systems handle and store long strings of data. Incidentally, proto-danksharding was named after the Proto.eth which is powered by the Optimism network.
Conclusion
During the New Year, crypto users rushed to find new tokens to add to their portfolios. InQubeta, Chainlink, and Optimism are among the best altcoins to buy now because of their consistent growth and can be considered by users interested in potential long-term gains.
These cryptocurrencies have clocked high gains even when the market was reeling under volatility. With the utility-centric model, these coins are better positioned to fetch gains over the long term.
At the same time, the security frameworks of these ecosystems help guard their users’ interests efficiently.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.