Grayscale, which manages the Grayscale Bitcoin Trust (GBTC), is all set to foray into the spot Bitcoin Exchange-Traded Fund space.
The asset management firm announced that it would be changing the GBTC agreement to optimize its structure. The move is aimed at GBTC uplisting as a potential spot Bitcoin ETF.
In the recent past, companies like BlackRock, Franklin Templeton, and Fidelity have expressed interest in rolling out spot ETFs. It's also the first time that Grayscale will update the GBTC agreement since 2018.
The other reason why the crypto market appeared to be trading in the green is because of the recent rise of AI-powered altcoin InQubeta (QUBE). InQubeta has trumped several old and new altcoins with a unique model where startups can raise funds for their AI projects.
Its native cryptocurrency is known as the QUBE token. It is used for all transactional purposes on the platform. Analysts have predicted a strong rise of 10X for this popular crypto in the long term.
Since its presale was announced, people have been rushing to buy the cryptocurrency. Around 88% of the allocated tokens have already been sold and the presale funding has reached $5.9 million.
According to analysts, InQubeta's cryptocurrency ICO is set to make further gains as the presale process progresses.
The QUBE token can be staked to support the platform's growth. The token holders are incentivized for their efforts with crypto rewards.
These staked assets help to infuse liquidity into the InQubeta ecosystem and support the growth of AI-based startups. The rewards earned will vary with the length of the staking period. The staking rewards are funded through a pool that's maintained by allocating tax proceeds.
The number of QUBE tokens generated is 1.5 billion and a large part of it is allocated for public sale. The remainder is utilized for meeting legal expenses, paying developers, marketing activities, doling out rewards, and maintaining the liquidity pool.
The platform isn't governed by a single authority or a central institution. Instead, all important decisions are taken by the community members together.
In the governance structure, token holders play a key role as they are given special voting rights. These privileges let them make cogent decisions that can support the platform's growth plans.
If a community member comes up with a plan or idea that could improve the protocol, the proposal can be pitched to other members. After discussion about the proposal's merits, it will be put to a vote where token holders will have the last say. With decentralized governance, InQubeta ensures that all its stakeholders are encouraged to participate and engage.
QUBE has a deflationary model which acts as a shield for returns when inflation is high. The model controls internal inflation by trimming the supply and burning excess tokens.
The scarce supply keeps price fluctuations minimal and creates a positive sentiment in the market for the token. The mechanism has helped InQubeta win over crypto users and boost their confidence in its model.
The supply order might go haywire when too many tokens are bought or sold. The platform taxes all sale and purchase transactions of the QUBE token.
As tax proceeds increase, the supply of tokens might also go up. To prevent internal inflation, the InQubeta team burns a small part of the tax proceeds from each transaction. The mechanism brings the supply back in order.
QUBE is being hailed as a top crypto to invest in by many experts. InQubeta sports a user-friendly model to facilitate seamless interactions between startups and investors.
Doing away with unnecessary formalities, InQubeta requires startups to only submit a rewards-based offer for investors. The NFT version of these offers is posted on InQubeta's online marketplace. These offers tell investors about a project and how they can gain from it.
These NFTs can be bought with QUBE tokens and can even be fractionalised. The availability of fractionalised NFTs makes InQubeta a great option for budget-conscious users.
InQubeta is among the best altcoins for 2023 as it represents how DeFi can lead people to become financially secure.
The highly popular crypto project strives to lay the foundation of an AI-powered revolution with startups at the forefront.
For crypto users, InQubeta is a cost-effective platform that secures both the present and future. Its features like a decentralized and deflationary token help in keeping crypto portfolios in good health even when the markets are in red.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.