S&P Flags Ethereum ETF Concentration Risks; Fetch.ai’s Rally & InQubeta’s Ambitions Goals
Since the long-awaited Bitcoin (BTC) ETFs hit the market, the cryptocurrency market has been logging milestones, with BlackRock reaching $2 billion worth of BTC. This new liquidity has sparked agitations for an Ethereum (ETH) ETF. S&P, the largest benchmark and analytics company, recently warned about the risks of approving it. They’re afraid it could lead [...]
Since the long-awaited Bitcoin (BTC) ETFs hit the market, the cryptocurrency market has been logging milestones, with BlackRock reaching $2 billion worth of BTC. This new liquidity has sparked agitations for an Ethereum (ETH) ETF. S&P, the largest benchmark and analytics company, recently warned about the risks of approving it. They’re afraid it could lead to the Ethereum network being overly controlled by a few players, pointing to the amount of staked ETH.
Meanwhile, the AI-based altcoins have been recording impressive pumps from tokens like Fetch.ai (FET). The token recently revisited its two-year peak, propelled by OpenAI’s new text-to-video generation tool, Sora. While FET skyrockets, another high-value AI token, InQubeta (QUBE), joins the list of top-performing altcoins. The token steadily climbs while recording tens of millions of dollars in inflowing liquidity during its ongoing presale.
This article will explore S&P’s Ethereum ETF concerns, Fetch.ai’s growing ambition, and InQubeta’s impressive performance.
InQubeta’s (QUBE) Performance Signals Push To Record-breaking Highs
With the potential to disrupt the cryptocurrency market, InQubeta has unveiled its upcoming AI-based cryptocurrency platform. This first-of-its-kind platform offers NFTs minted with the value of AI investments to investors at a discount. Since the NFTs are fractionalized, investors don’t have to break the bank to invest in cryptocurrency and AI. In addition to its appeal as the best crypto investment for a budget, InQubeta investors can profit from the rising adoption of AI.
Market conditions and expectations suggest that QUBE will soon become a titan compared to its competition. According to market estimates, the AI sector will hit a trillion dollars in value by 2030. This growth would reflect life-changing gains for investors smart enough to invest in the QUBE token. This potential has triggered a high demand for the crypto ICO, sending the token to new highs.
QUBE is currently worth $0.0255 after surging from $0.007. Investors who bought at $0.007 have earned 264% returns. The crypto ICO is still fast selling, earning the platform a milestone sale of 827 million tokens sold with over $10.3 million raised. Demand for QUBE has increased since it started its seventh presale stage, thanks to the 20% returns that holders will get when the event ends and QUBE is listed on exchanges. According to analysts, QUBE could reach $0.1 before the end of the year, making it the best crypto investment for 2024.
Ethereum (ETH) ETF Posing High Risk According To S&P
Now that attention has shifted to Ethereum in expectation of its own ETF, analysts are looking at it more closely because ETF issuers can earn extra by staking ETH. Although it could mean more liquidity for the cryptocurrency market, it also has repercussions. Some companies that have been bidding for the ETF’s release have plans that include staking, meaning they’ll play a big part in the growth of the network since ETH requires a two-thirds majority to flag off transactions. This could put too much control in the hands of a few people.
S&P Global was the first to point out this flaw, suggesting that it could lead to the decline of the Ethereum network. S&P also expressed concerns about Lido (LDO). The company shared worries about the decentralized staking platform that has been edging higher, threatening the control of one-third of Ethereum’s staking ability. This development shows that US companies and their attempts at ETH staking could worsen the current concentration of power.
Fetch.ai (FET) Rallies As Interest In AI Tokens Surge
The recent growth of Fetch.ai has mainly been due to two things. The AI platform recently announced its partnership with the telecommunications giant Deutsche Telekom. Fetch.ai hopes to push the growth of the blockchain sector with the help of Deutsche Telekom. The AI crypto plans to secure FET‘s blockchain by making the telecommunications company its validator.
The second reason for Fetch.ai‘s surge is Sora. AI-generated videos have gained widespread positive reactions from AI enthusiasts. It has boosted the interest of institutional and retail investors in AI and AI-based cryptocurrencies, pushing FET to the high it hit in 2021. Last week, FET delivered profits of over 30% to investors.
Final Thoughts
S&P’s fears that an Ethereum ETF could increase the concentration of power in the hands of a few individuals are proof that the cryptocurrency market is changing rapidly. Despite this development, the market is still doing what it does best. The overall market is still pushing forward, with notable altcoins like Fetch.ai and InQubeta delivering stellar price runs. InQubeta’s run is more impressive, considering that it is still in the early stages of development and is already charting explosive gains. The presale currently offers a 15% bonus on every purchase.
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