The gains achieved by Bitcoin (BTC) due to the success of spot ETFs are now threatened by the rising tension in the Middle East. As tensions flare between Israel and Iran, analysts are seeing crypto users becoming more risk-averse.
As per market metrics, the Bitcoin price dropped to one of its lowest levels since March. Reports about the brewing conflict between the two nations and several new altcoins are also believed to have been impacted.
Amid the market chaos, the presale success of InQubeta (QUBE) has served as a welcome distraction. The crypto-friendly crowdfunding platform for AI projects has joined the Eos (EOS) and Akash Network (AKT) as this year’s top cryptos to invest in.
By introducing a new-age crypto project, the token has garnered over $13.6 million in presale funding and listing launched on April 15th, 2024.
InQubeta: The AI Edge for Cryptocurrencies
InQubeta draws crypto users with investments in AI projects designed by startups from across the world. The crowdfunding platform helps crypto users create consistent sources of income while fostering a wave of AI innovation.
All investments and payments are made with InQubeta’s official coin, known as the QUBE token.
The investment proposals submitted by startups are minted into NFTs and then sold to crypto users at InQubeta’s digital marketplace. At the portal, crypto users purchase NFTs or fractions of them. In exchange for the funding, the startups offer the investors a share in their equity.
Counted among the best altcoins for 2024, the QUBE token is wooing people with its deflationary character. The game-changing feature limits the token price’s exposure to volatility or inflation.
Whenever the markets are tanking, the availability of the token is reduced. The supply gap bolsters the price and staves off fluctuations. The deflationary effect automatically makes the QUBE token more attractive than other asset categories.
During such times, any additional tokens in circulation are burned to reduce the supply.
Hong Kong Approves Launch of Bitcoin ETFs
Bitcoin is a top-notch cryptocurrency that is used globally for secure and efficient cross-border payments. Many crypto users are even exploring its potential to increase their generational wealth. The native token is represented by the ticker symbol BTC.
In January, the launch of spot exchange-traded funds (ETFs) in the US took the price of its native token to unprecedented levels. Hoping to mirror their success in the US, regulators in Hong Kong also gave a green light to the rollout of Bitcoin ETFs in the region.
Meanwhile, the escalation of tension in the Middle East has led to a bearish impact on Bitcoin. Analysts suggest that it’s too early to sound the alarm and have advised crypto users to think through their decisions.
Akash Network Joins Hands with Coinbase Prime
Akash Network is a decentralized platform where developers can find computing resources for sale. Its native token, AKT, is accepted as payment for these solutions.
In a recent development, the Akash Network announced that it has partnered with Coinbase Prime, the crypto exchange’s digital asset custodian. Under the partnership, AKT holders would be able to explore Coinbase Prime’s secure custody services.
Eos’ New Docking Layer for Bitcoin Networks
Eos is a platform offering Web 3.0 tools for designing and expanding dApps. Its native token, EOS, comes in handy for all transactional purposes on the network.
Eos has unveiled a new docking layer built on its blockchain which developers can leverage for scaling their Bitcoin-based projects.
Known as exSat, the solution would fill in the gap between Bitcoin Layer 1 and Layer 2 networks. The docking layer sports multiple consensus protocols to cater to the needs of miners, stakers, and validators.
Conclusion
Bitcoin, InQubeta, Akash Network, and Eos are leading cryptocurrencies that feature among most analysts’ recommendations. These tokens are powerhouses of features that prioritize user experience and growth potential.
As their user bases grow, cryptocurrencies’ are forging new partnerships and unlocking new milestones.
Despite concerns about how geopolitical factors might impact its price, Bitcoin is still considered a reliable asset. The latest proof is Hong Kong which gave a go-ahead to Bitcoin ETFs in the region recently. Eos and the Akash Network have also proved their mettle following their collaborations with Coinbase Prime and exSat.
InQubeta has impressed the world with an ingenious crypto project where DeFi and AI innovation get a simultaneous boost. Its recently concluded cryptocurrency ICO has been a massive success and the team is now planning to get the QUBE token listed on exchanges like Uniswap.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
