The approval of Bitcoin (BTC) spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has set the stage for those investing in BTC ETFs. VanEck, a global American investment management firm also approved to issue BTC ETFs for trading, was recently found to have purchased $10 million worth of Bitcoin as the seed address was identified. Crypto analysts are also extending bullish outlooks on altcoins like Ethereum (ETH) and InQubeta (QUBE), as they are drawing substantial capital.
InQubeta's cryptocurrency ICO has registered about 732 million token sales as it turns heads with its merger of artificial intelligence (AI), decentralized finance (DeFi), and blockchain technology. In other news, the market has recently taken notice of the increased trading activities of Ethereum whales. This article examines VanEck's $10 million purchase tracement and the bullishness on Ethereum and InQubeta's future by analysts.
The digital market is gaining attention thanks to updates following Bitcoin ETF approval. InQubeta, yet to be launched on exchanges, is tapping into this uptrend as its cryptocurrency ICO, which is in its seventh stage, has sold about 732 million QUBE tokens. The platform has raised nearly $8.5 million, selling each token at 0.0224 USDT, which will soon rise to 0.0255 USDT in the upcoming stage. Analysts now project that InQubeta will continue with this momentum and conclude its ongoing presale faster than predicted.
This platform focuses on the success of AI startups by featuring a crowdfunding approach that allows investors to acquire stakes in these companies. InQubeta provides these opportunities as investment units, minted into non-fungible tokens (NFTs). Regardless of their budget, investors can diversify their portfolio using QUBE to buy the NFTs while supporting the startups and benefiting from their success over time.
The InQubeta platform is supported by blockchain technology, which enables secure, efficient, and transparent investments. InQubeta also has comprehensive audits and Know Your Customer (KYC) verifications by top security companies, Haven and Block Audit, respectively. These security commitments to its customers' assets have taken InQubeta to the top of the best DeFi token lineups.
VanEck has become the first Bitcoin spot ETF for which its on-chain inflows have been identified after establishing their address. The company disclosed its purchase of 1,640.92 BTC to support its spot ETF on January 5th. The address associated with the transaction holds precisely that amount of Bitcoin. VanEck has opted to add to this existing address rather than create a new one like BlackRock and Fidelity. In a subsequent move, VanEck purchased an additional 226 BTC, valued at $10 million.
VanEck's consistent addition to the same seed address – rather than creating new ones – could make it the most transparent Bitcoin ETF. Transparency is crucial, considering the similarities among the 11 Bitcoin ETFs launched recently. This transparency sets VanEck apart and has drawn those interested in investing in BTC ETFs to it, as it ensures identification for both the seed and inflows and provides valuable insights for monitoring the new ETFs on the blockchain.
Cryptocurrency analytics platform Lookonchain reported the trading activities of Ethereum whales. These whales have been capitalizing on the recent decline in crypto prices to bolster their holdings. A whale recently took advantage of the decreased Ethereum prices, buying 3,600 ETH, worth around $8.9 million. Lookonchain highlighted that this investor's history of buying ETH at lower prices and reselling at higher valuations has resulted in substantial profits, estimated at around $25.8 million.
These whale movements are worth noting, especially considering the increasing bearish sentiment in the cryptocurrency markets. Ethereum has started seeing a little uptick in its price. The asset is currently trading at around $2,430, and analysts predict that the bulls can return it to the $2,500 zone by this week.
The $10 million worth of Bitcoin purchased by VanEck can be successfully traced through an initial seed address, showing transparency. ETH and QUBE's recent impressive performance has made analysts and traders optimistic about their future. The enticing proposition of InQubeta is to heighten institutional interest in the project and make it the best DeFi avenue to profit from in the booming AI sector. Investors can earn at least a 37.5% return before InQubeta launches, making its proposition more appealing.
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