MicroStrategy co-founder Michael Saylor recently hit the headlines after he gained $20 million by selling the company’s shares right before the launch of spot Bitcoin ETFs.
According to reports, from January 2-10, 2024, Saylor sold off between 3,882 and 5,000 shares. On January 10, US authorities gave a green light to investing in BTC ETFs on January 10, which led to a brief spike and then a drop.
Amid the sell-off, an AI altcoin has been making headlines with its phenomenal growth. InQubeta (QUBE) has fetched record-high gains in the past few months which is why a section of analysts are even calling it the next market leader.
InQubeta: Building AI startups of tomorrow
InQubeta is a platform where startups can connect with investors and scale their businesses. The platform has created a native cryptocurrency, called the QUBE token, which is used for facilitating transactions and rewards.
The platform is built on the Ethereum network and it helps startups find investors and nurture their business with its services. Its presale success reflects the impact it has been driving worldwide. Its cryptocurrency ICO has so far raked in $8.4 million.
The QUBE token is giving many new altcoins tough competition because of its deflationary model. The model gives the token an edge during inflation as it allows the asset to trade at competitive prices.
The deflationary mechanism kicks in when inflation is high and it restricts the token’s availability in the market. The difference between demand and supply curbs price fluctuations and drives the asset value. Any increase in the supply can be reduced again by burning the unwanted tokens.
The token burn mechanism is also used for controlling internal mechanisms. When taxes are levied during the sale or purchase of QUBE tokens, the proceeds might increase their supply and bring down their value. To avoid the situation, 1% of the tax collection is burned and the remaining is used for other operational overheads.
QUBE token can be staked to complement the platform’s growth. Staked assets ramp up liquidity and support blockchain development. The token holders earn revenue on these locked assets. The InQubeta team uses tax proceeds and other tokens from the total supply to create a pool for staking rewards.
Before any feature or protocol upgrade is implemented on InQubeta, it needs to be approved by all stakeholders. The proposed changes or additions are discussed and made to undergo a voting process. Token holders get voting rights to participate in such processes. Using their good judgment, they can vote for proposals and keep unwanted changes away.
Using InQubeta, startups can not only raise funds but also access a range of business development services. The services are exactly what innovators need to plan and shape their growth trajectory. Given how accounting can be convoluted, InQubeta’s team of trusted advisors can offer financial or accounting support to startups.
Budding companies can also leverage InQubeta’s marketing service to make their brand well-known. With InQubeta’s help, they can meet experienced professionals from different fields and grow their network. They can tap into the platform’s social media channels to expand their community.
Bitcoin-based digital art fetches $254k in Sotheby’s auction
Bitcoin is among the top cryptos to invest in this year and it has shown a lot of potential with its uptrend. Its native token BTC is used for making fast transactions.
Its fame shot up sharply after 11 Bitcoin ETFs received a green light from the US SEC and debuted in the market. In a related development, MicroStrategy CEO Michael Saylor added over $20 million to his portfolio after he sold Bitcoin tokens before the ETFs hit the market.
Bitcoin was recently in the news again after a digital image based on the cryptocurrency fetched $254,000 in an online auction. Called ‘Genesis Cat’, the digital art was minted on Bitcoin Ordinals by Taproot Wizards. The digital image was among 19 creations sold by Sotheby’s during the auction. Collectively, the digital assets earned $1.1 million.
Conclusion
Bitcoin and InQubeta were among the best altcoins for 2023 and they seem to have continued their growth streak in the New Year as well. The two cryptocurrencies have expanding user bases and have impressed the markets with their rise and user-friendly models.
The two tokens are market favorites and have exemplified the far-reaching potential of DeFi solutions. These coins help to balance crypto users’ long-term needs with the demands of the present.
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