Coinbase has publicly and formally asked the United States (US) Securities and Exchange Commission (SEC) to approve Grayscale’s bid to convert its current Ethereum (ETH) Trust product into a spot ETH exchange-traded fund (ETF). Ethereum’s price could explode further to unfathomable heights, even reaching its ATH (all-time high) if the SEC allows listing the asset’s spot ETFs on US exchanges. This move by Coinbase has ignited excitement and speculation, and amid the development, is the intriguing rise of InQubeta (QUBE).
InQubeta is a prime decentralized finance (DeFi) example of how blockchain and artificial intelligence (AI) technology intersect. InQubeta’s AI-centric initiative has contributed to the rush to its top ICO, which has a notable price uptick for each presale stage. This article details the factors that make QUBE ready for an ambitious 2870% rally amid the push for SEC’s ETH ETF Nod.
InQubeta (QUBE): Propelling AI And DeFi Transformation
InQubeta is a top innovative project on the decentralized cryptocurrency list, as it is the first cryptocurrency crowdfunding platform. The platform supports AI tech startups by incorporating a fractional investment model that allows stakes in the startups to be minted into non-fungible tokens (NFTs). QUBE holders with different financial strengths can capitalize on this model by purchasing NFTs for several projects and getting rewards and equity for the startup’s success.
The SEC’s approval of nearly a dozen spot Bitcoin (BTC) ETFs in mid-January marked a galvanized outlook for other top DeFi coins like InQubeta, which quickly sold out its seventh stage and is now in the eighth. InQubeta’s initial coin offering consists of 10 stages, including the beta stage, with each round seeing a tangible price increase. Investors are anticipating the launch of this project at the proposed price of at least $0.0308, an enticing 340% increase from its initial DeFi coin price of $0.007.
This top ICO has sold over 831 million QUBE tokens and raised over $10.4 million. With the ongoing positive sentiment in the crypto market plus the hype around a potential spot ETH ETF approval, the presale progress aligns with the potential for a massive upcoming 2870% rally for this altcoin. Also, the high demand for InQubeta emphasizes investors’ confidence in its vision for AI innovation empowerment.
Blockchain technology backs the InQubeta project, which allows secure and transparent investments. InQubeta also has comprehensive audits and Know Your Customer (KYC) verifications by two top security companies – Hacken and Block Audit. These security commitments to its users’ assets and information have quickly made InQubeta top the decentralized cryptocurrency list.
Ethereum (ETH) ETF: Coinbase Pushes For Approval
Coinbase, the Grayscale Ethereum Trust’s crypto custodian, has stood firmly behind the asset manager in its application to introduce a spot ETF. In a 27-page letter shared by Coinbase’s Chief Legal Officer, Paul Grewal took to X (formerly Twitter) to announce the company’s formal response to the SEC’s request for comments. The exchange detailed the legal, technical, and economic justifications supporting the approval of the ETF.
Key to Coinbase’s argument is the classification of ETH as a commodity, not a security. Coinbase then praised Ethereum’s proof-of-stake consensus mechanism, stating that the structure effectively mitigates risks of fraud and manipulation, leading to a more robust and reliable platform. This remark comes with growing concerns over concentration risks within the network, especially regarding spot ETH ETFs that include staking options.
Ethereum, the market’s second-largest cryptocurrency, has reached the $3,200 mark, buoyed by Bitcoin’s strong upward momentum. Like spot Bitcoin ETFs, these regulated investment products are anticipated to boost Ethereum’s institutional appeal — driving demand for ETH. If retail appetite maintains the momentum while institutions swarm in, ETH could soar past $3,500, then likely return to its November 2021 lifetime ATH of $4,878.
Conclusion
Coinbase advocates for SEC nod on Ethereum ETF listing as the exchange has explained why an ether-based spot ETF should be approved. The convergence of AI and NFTs on the blockchain has opened new avenues for innovation, and InQubeta is at the forefront of this movement. Investors who are ready to multiply their gains before the end of the first quarter of 2024 can visit the InQubeta website to join the presale and acquire QUBE tokens before the price increases from the current $0.0245 to $0.0274 by the next stage.
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