Bolstered by the success of spot exchange-traded funds (ETFs), Bitcoin (BTC) has emerged as a blue-chip asset and is now drawing institutional adoption on a large scale. The uptick in Bitcoin trading has also boosted its mining rewards.
As per reports, on March 7, 2024, Bitcoin’s daily miner rewards crossed $78.6 million. The figure crossed the peak obtained by the mining rewards in April 2021. Miners earn rewards for confirming transactions and then adding them to the blockchain.
Analysts hope the optimism also rubs off on altcoins like InQubeta (QUBE). The Ethereum-based token has been making rapid strides and can potentially outperform names like Filecoin (FIL) and Litecoin (LTC). Till now, its cryptocurrency ico has raised over $12.9 million.
InQubeta: A crypto project for AI-savvy investors
InQubeta is a popular crowdfunding platform that assists startups in connecting with crypto users who can finance their AI projects. InQubeta has developed a native cryptocurrency called the QUBE token which is used for all transactional and investment purposes on the platform.
The procedure for raising funds on InQubeta is very simple. After undergoing a screening process, startups can submit their investment proposals which are used for minting NFTs. By purchasing these tokenized assets, crypto users can invest in startups.
Every NFT corresponds to an AI project and users can compare them as well. Once satisfied, they can buy the NFT with QUBE tokens.
The QUBE token has a deflationary character and can beat the market odds to post regular returns.
Its deflationary model makes InQubeta a top crypto to invest in because users don’t have to worry about inflation eating into their returns. When the volatility of inflation is rising, the token’s availability is reduced, so buyers face difficulty in acquiring the asset.
The reduced supply will push the token price and curb fluctuations. As its value stays stable, more crypto users will be drawn towards it.
Bitcoin in mid-phase of bull run: Grayscale Investments study
Bitcoin is a popular token that facilitates high-speed online transactions. Its native token is known as BTC and it is used for all transactions which are then confirmed with the proof-of-work algorithm.
A major reason behind Bitcoin’s increased adoption over the past few months has been the launch of BTC ETFs in the US. These ETFs enable people to invest in cryptocurrencies without needing to own them. The uptick in Bitcoin’s popularity has boosted its mining rewards. In March, the daily mining rewards for Bitcoin reached $78.6 million.
Grayscale Investments recently released a study exploring the current Bitcoin market cycle. The study also highlighted that the BTC token was in the “mid-phase” of a bullish run supported by a mix of fundamental and technical drivers.
Filecoin to Host Data Economy Hackathon
Filecoin is a Web 3.0 storage marketplace and a leading crypto project. Its native token FIL can unlock a host of features for crypto users and is used for settling all payments. Using Filecoin’s cutting-edge features, developers can build scalable dApps.
To encourage more innovative projects, Filecoin is gearing up to host the Data Economy Hackathon in April. The contest would encourage participants to build solutions that expand the horizons of the Web 3.0 ecosystem. At the end of the hackathon, five winners will be shortlisted who will share a $500,000 prize pool.
US CFTC declares Litecoin a security
Litecoin is a decentralized platform for making secure online transactions. Its native token LTC provides multiple earning opportunities for crypto users and helps them grow their generational wealth.
The LTC token has seen increased whale activity after the Commodity Futures Trading Commission (CFTC) announced that Litecoin was a security.
CFTC is an independent agency which regulates the derivatives market in the US. The development boosts the confidence of Litecoin users and has supported its upward movement.
Conclusion
Bitcoin, InQubeta, Litecoin, and Filecoin have been growing steadily while outperforming the best altcoins for 2024. These tokens have liberalized the DeFi space for different user groups with their varied models and intuitive interfaces.
Analysts suggest that the recent achievements of these tokens have contributed significantly to their success. They cite the example of Bitcoin whose adoption has risen massively after the launch of BTC ETFs. As its trading crossed all-time highs, Bitcoin mining rewards have also touched record highs.
Other examples include Litecoin’s new-found commodity status and Filecoin’s slew of partnerships and initiatives. The reasons have enabled both LTC and FIL tokens to steal a march over new altcoins.
For InQubeta, its unique AI-led use case has been its biggest growth driver. The model has been a game-changer for AI startups who can now raise funds with just a few clicks.
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