DTCC Eliminates Bitcoin ETF Collateral, Solana And New AI Altcoin Catch Big Investors’ Eyes

The spot ETF success story took an interesting turn as the Depository Trust and Clearing Corporation (DTCC) announced that it won’t be extending loans against cryptocurrencies or accepting Bitcoin (BTC) ETFs as collateral.

The organization’s stance, which offers clearing and settlement services, contrasts with the raging popularity of crypto ETFs.

In the altcoin sector, InQubeta (QUBE) has received a lot of attention from the cryptoverse, especially after its cryptocurrency ICO raised $13.6 million. The Ethereum-based platform offers crowdfunding services for AI projects.

Analysts have lauded the way its makers have combined DeFi features like a deflationary model and decentralized governance with an AI-based use case.

Some experts also believe that the cryptocurrency is very soon likely to join the league of top altcoins like Solana (SOL), which has been generating significant investor interest.

InQubeta: The altcoin everyone is watching out for

InQubeta is a blue-chip asset in the making. The token’s AI-led model is an idea whose time has come and will enable crypto users to keep up with technological advancements.

The platform promotes startup investments through an NFT marketplace. The NFTs sold at the portal correspond to startup projects, and the funds generated from their sale are transferred to the respective startup.

The medium of exchange at this NFT marketplace is InQubeta’s official cryptocurrency, the QUBE token. The ERC-20 coin has a 1.5 billion supply, with the majority of it reserved for public sale. The remaining 35% is allocated for expenses ranging from legal fees to marketing expenses.

A great way to earn with the QUBE token is to stake it. Staked assets play a key role in promoting a blockchain’s development and security. Given the steady stream of passive income that the token can generate, InQubeta holders won’t have to think about what cryptos to buy now for a long time.

People who stake their tokens are paid rewards for as long as the asset is locked. The InQubeta team maintains a rewards pool financed by tax collections for these staking rewards.

After the US and Hong Kong, Bitcoin ETFs stoke institutional interest in Australia

Bitcoin is among the most highly traded cryptocurrencies in the world and uses the proof-of-work consensus algorithm. Its native token BTC determines all transactions on the network.

The BTC token achieved unprecedented popularity after the success of spot ETFs in the US. Launched in January, the 11 ETFs had collectively raised around $12 billion in investor inflows by the first quarter of 2024. Soon after, Hong Kong approved a proposal that allowed the launch of crypto ETFs in the region.

According to the latest reports, the Australia Securities Exchange is likely to accept a batch of Bitcoin ETFs by 2024-end. A news report by Bloomberg stated that companies like Van Eck Associates and BetaShares are among the entities that have submitted applications to launch financial products in the country.

Meanwhile, financial clearing and settlement company DTCC recently announced that it would not be advancing loans against BTC ETFs as collateral.

Canada-based SOLWealth eyes Solana ETF

Solana is a Web 3.0 platform that provides developers with a range of solutions to build cutting-edge dApps.

Its native token SOL has withstood the test of time by outperforming many emerging cryptos.

The Solana meme coin space has also received major attention from many buyers. Overall, the Solana ecosystem has remained bullish with many developers building on the platform.

Joining the league of cryptocurrencies like Bitcoin and Ethereum, a Solana-based spot ETF could very soon be a reality. As per reports, Canada-based federal entity SOLWealth is gearing up to launch a Solana ETF in North America.

Conclusion

If people are looking for the best cryptocurrencies to buy this quarter, most analysts would suggest they include InQubeta, Bitcoin, and Solana in the list. The three cryptocurrencies have clocked impressive growth trajectories and represent the impactful reach of DeFi assets.

In recent months, these three cryptocurrencies have achieved new heights with partnerships, initiatives, and ambitious projects. Bitcoin today holds a pride of place in the crypto market as countries like Australia seem to be warming up to spot ETFs. Other factors, like its recently concluded halving event, have also bolstered its market position.

Solana trumped expectations with its bullish movement after launching a series of new projects and meme coins.

As for InQubeta, the team behind the crypto project has announced a roadmap for the coming months, which includes the launch of a staking dApp. The QUBE token has been trending after being listed on leading exchanges like MEXC and Uniswap.

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