The recent pushback by the US Securities and Exchange Commission (SEC) over Bitcoin (BTC) Exchange-Traded Funds (ETFs) has prompted BlackRock to rethink its strategy. The investment management firm said it will now be allowing cash-only redemptions with its Bitcoin ETF.
A filing shows that BlackRock tweaked its proposal to pave the way for cash-only redemptions. The move comes after the SEC indicated its preference for cash models rather than the in-kind ones.
Amidst the excitement around crypto ETFs, two cryptocurrencies that are ruling the market are InQubeta (QUBE) and Filecoin (FILE). The two tokens posted bullish movements after analysts predicted that they could grow by 100% in the coming months.
Filecoin has created an impact as a decentralized storage marketplace, and InQubeta has topped cryptocurrency ICO lists with its presale growth. The platform helps startups find funding for their artificial intelligence-based projects. Its presale funding recently crossed $7.5 million.
InQubeta: Unleashing the full potential of AI startups
For startups in need of funds, InQubeta is a resourceful platform. It assists these companies in ending their fundraising worries. The investors who connect with these enterprises get to be a part of an AI-led revolution.
Its native cryptocurrency is known as the QUBE token and is powered by the ERC-20 standard.
It has received praise from all corners due to its versatile framework. Analysts believe that the QUBE token can do away with crypto users’ anxiousness about what cryptos to buy now.
The platform offers a staking service where QUBE token holders agree to lock their assets and earn crypto rewards. These locked tokens aid the blockchain’s development and create a conducive investment environment. The staking rewards are distributed from a pool that’s financed by on-chain tax collections.
The QUBE token has a deflationary model which acts as a shield for returns when inflation is high. When other assets are losing value due to inflation, InQubeta keeps users happy with this feature, by controlling its demand.
A deflationary model calls for a scarcity of tokens so that their prices don’t fluctuate. The limited availability keeps the asset value steady. In case the supply surges beyond a predetermined limit, it’s reduced by burning unwanted tokens.
The platform functions with decentralized governance and token holders take all decisions. The proposal for a decision is first discussed and then put to a vote. Token holders use their voting privileges to decide if a suggested change can promote the platform’s development.
Filecoin unveils Watermelon Upgrade
Filecoin is a decentralized data storage marketplace that solves challenges in file storage and retrieval. Rated as one of the altcoins to watch out for, Filecoin helps developers deploy customized storage services with blockchain.
Developers can either use the services themselves or rent them out to others. Its native token FILE is the official medium of exchange within the Filecoin network.
In a recent development, Filecoin announced that its Watermelon upgrade was now live. The upgrade will sport an improved Filecoin protocol and enhanced FVM features which will aid seamless operations. It is running successfully on the network version 21.
Argentina will now allow formal agreements in Bitcoin
Bitcoin’s launch can be traced to the time when the crypto sector was still in a nascent stage. By posting sustained growth for well over a decade, the cryptocurrency has carved a niche for itself and is today among the most traded digital assets in the world. Its native token is BTC.
Any new tokens are generated by miners who have the option of joining a mining pool or operating independently.
Over the past few years, Bitcoin has boosted its outreach after countries like El Salvador and the Central African Republic (CAR) made it a legal tender. In the CAR, Bitcoin holders can even avail of government services by collateralizing their tokens.
Recently, Argentina announced that Bitcoin holders will be able to use it for formal agreements in the country. The move is among the measures announced by the government to boost the country’s struggling economy.
Despite its growing acceptance, BTC ETFs still face a number of challenges.
Conclusion
By impressing both crypto users and analysts, Bitcoin, Filecoin, and InQubeta have become among the top gainers of the market. Apart from being the best cryptocurrencies to buy, they are also good options for diversifying a portfolio.
They combine features like proof-of-work protocols, decentralized governance, and deflationary tokens to provide crypto users the opportunity to diversify their portfolios. The three projects have proved how DeFi technology can drive impact and transform industries.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Source: nulltx