Is Bitcoin Headed Below $40k by Month’s End? Uniswap & InQubeta Impress Analysts

The spot Bitcoin (BTC) exchange-traded funds debuted in US markets to an unprecedented response. They are boosting mainstream acceptance of cryptocurrencies by providing regulated access to the sector. Even though their rollout was delayed due to concerns over ETF acceptance criteria, they still fetched record investor inflows.

However, as the excitement around ETFs wears off, there is speculation that it may negatively influence Bitcoin price. A section of analysts have voiced fears that it may dip below $40,000 again by this month's end. 

What helped distract the market from such speculation was the impressive growth of InQubeta (QUBE) and Uniswap (UNI). While Uniswap is a permissionless platform for swapping and trading crypto assets, InQubeta assists startups in raising funds for their artificial intelligence-driven projects.

InQubeta: Building the confidence of AI startups

Designed to make fundraising easier for AI startups, InQubeta is built on Ethereum and it can drive financial inclusion on a massive scale. The platform leverages straightforward investment models where crypto users can buy NFTs based on startups' projects and invest in them. 

Any purchase or taxes paid within the InQubeta ecosystem is in terms of its native cryptocurrency, the QUBE token.

The cryptocurrency has a multi-faceted model that can earn passive income, save returns, and support the platform's growth. For earning passive income, token holders can stake the asset and earn rewards. Staking accelerates a blockchain's growth by expanding liquidity. 

On InQubeta, a separate rewards pool has been set up to give out staking incentives. InQubeta's growth comes at a time when analysts were already impressed by its presale success. Currently, its presale funding stands at $8.6 million.

The QUBE token is a good crypto to buy as it staves off the impact of market volatility. When the market is trading in red or the inflation is high, asset prices tend to fluctuate. 

To avoid this, the token's deflationary model tightens its supply and makes it harder to buy. The move boosts demand and the asset's value, thereby trumping market volatility. 

Bitcoin whales accumulated holdings worth $3 billion: Report

Bitcoin is a permissionless digital currency that facilitates quick and secure online payments. Its native token BTC is used for all on-chain payments which are then validated with the proof-of-work consensus protocol. Any new tokens are generated through mining and the miners are compensated with cryptocurrencies for their efforts. 

The launch of Bitcoin ETFs has pushed the BTC token higher up the list of top crypto coins. According to data compiled by analytics firm IntoTheBlock, whales accumulated BTC tokens worth $3 billion in January. The number of Bitcoin units stored in wallets with over 1,000 BTC has gone up to around 7.8 million BTC.

At the same time, there has been speculation that the declining interest in ETFs may impact Bitcoin's price. A group of analysts recently claimed that the BTC token's price may decrease below $40,000 by this month's end.

Uniswap's latest web update goes live

Uniswap is a decentralized exchange for purchasing and swapping cryptocurrencies. The platform also offers a wide collection of tools for building dApps. Developers can access open-source code, documentation, start guides, and a Javascript SDK to deploy dApps on the Ethereum-based platform. Its native token is UNI. 

Uniswap is also running a grants program where developers can apply to secure funds for building dApps and tools on the Uniswap protocol.

Considered one of the best crypto investments available in today's market, Uniswap offers a reward of up to $500,000 to those who spot bugs or security lapses in its protocol. 

The crypto exchange recently hit the headlines after its latest web update went live. With the upgrade, crypto users will be able to send tokens directly from the Uniswap platform. 

Conclusion

If you are drawing a list of the best altcoins to buy now, most analysts would recommend that you don't miss names like InQubeta, Uniswap, and Bitcoin. These cryptocurrencies have demonstrated their potential in 2023 and are continuing to drive growth this year too.

The market sentiment around them is likely to be positive as they leverage the potential of DeFi to promote financial inclusion. What further seals the deal is their top-notch security frameworks that keep users' assets safe while ensuring privacy.

However, crypto buyers must carefully evaluate and research the projects before making an investment decision. 

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