The race by top institutions to become the first to introduce the Ethereum (ETH) spot ETF has started, with Fidelity Investments joining the list of filers. In less than a month, six companies declared interest in this venture after BlackRock opened the arena in early November. This occurrence is precisely in line with predictions after the Bitcoin ETF pumped bullish momentum into the market.
Now, multiple cryptocurrencies are seeing positive prices on the backs of this news, with tokens like Avalanche (AVAX) and InQubeta (QUBE) recording surges. Avalanche, one of the industry’s top performers, has sustained investors’ confidence through its one-month surge of over 180%. Meanwhile, InQubeta continues to impress its presale investors as the crypto ICO recently powered through the $5 million threshold, displaying a growing interest in its platform.
Let’s explore Fidelity’s interest in the Ethereum ETF race and examine the recent performance of Avalanche and InQubeta.
InQubeta’s (QUBE) Impressive Presale Performance Teases Potential Bullish Upswing
InQubeta is a DeFi crowdfunding cryptocurrency platform that uses artificial intelligence in a niche and innovative way. The project is structured to provide crowdfunding for Al startups by letting them mint profitable investment opportunities into some of the best NFTs to invest in and offer them to investors. When investors buy these equity-based NFTs, they automatically have investments in the fast-rising Al industry, and they’re set to get a piece of a sector projected to be worth more than a trillion dollars in less than a decade.
Global investors have recognized InQubeta’s offerings as the best crypto investment for them to make massive gains by early next year. The platform also allows holders to stake their QUBE tokens for rewards from the 5% sales tax. This innovative inclusion of a staking mechanism confirms InQubeta’s offer to provide passive income for users. InQubeta’s lucrative nature is why investors are trooping into the crypto ICO event, leading to the project raising a milestone sum of over $5.1 million.
QUBE has shot up 130% from $0.007 to the current price of $0.0161 in stage 5. The token’s price is slated to climb to $0.0308 by the end of the presale, allowing investors to gain 90% returns before exchange listings drive its value higher. The presale only has a few stages to go, and considering the rising institutional interest in cryptocurrencies, QUBE is the best crypto investment to consider getting in on early before the market bull run starts.
Avalanche (AVA) Delivers Explosive Rally Due To Multiple Institutional Partnerships
Since mid-October, Avalanche has constantly been pumping up in price, outperforming its high-cap competitors. AVAX price growth recorded over 180% in 30 days, printing highs above the $20 range. During this time, Avalanche unveiled multiple partnerships with top companies, and a spike in global interest in GameFi tokens and NFTs have been further drivers of the AVAX token’s performance.
The platform’s aim to increase its real-world use led to partnerships with Citi and JP Morgan, news that pulled more investors to the layer-1 blockchain platform and shot its price to target highs. Just recently, Avalanche partnered with the tech company Republic in its plan to launch the R note, which will act as the profit-sharing currency for the firm. The Republic claims to have chosen Avalanche because of its speed. This news could mean even higher highs for AVAX when the adoption of the platform increases.
Ethereum (ETH) Bumps Up In Price Following Fidelity Ethereum ETF Filing
On November 17, Fidelity Investments filed with the US SEC to approve its Fidelity Ethereum Fund on the popular Cboe Exchange. This move is the first attempt to create an Ethereum spot ETF, just like BlackRock is attempting. The ETH fund will offer a regulated exchange investment to investors in the US, filling the vacuum of low-risk investments in the US crypto market. Fidelity joins six other companies in pursuit of the Ethereum ETF goal, and investors are confident that this will open up the crypto market to more investment. The market is now experiencing increasing demand for crypto-based investment options, leading to an impressive surge in ETH.
Conclusion
Since the Bitcoin and Ethereum ETF race started, institutional investors have been paying attention to cryptocurrency investment. This development could deliver explosive surges for altcoins because the infusion of open interest will push the value of cryptocurrencies. Avalanche and InQubeta are already showing upside potential. The AVAX token recently skyrocketed due to mainstream adoption from institutions, while InQubeta’s use of some of the best NFTs to invest in has pulled investors to its ongoing presale.
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