The British bank Standard Chartered expects the Securities and Exchange Commission (SEC) will treat spot ETH ETF (exchange-traded fund) applications similarly to Bitcoin (BTC) ETFs and anticipates approvals on May 23. From their report, they believe the approval will positively impact Ethereum’s price action. On another front, as InQubeta (QUBE) generates a buzz with its presale, many wonder if it has the potential to outperform Dogecoin (DOGE).
As artificial intelligence (AI) adoption expands and transforms different sectors, the need for related technologies and applications in cryptocurrency also increases. InQubeta is one of the top altcoins that aim to promote accessibility to AI investments through cryptocurrency crowdfunding and utilize non-fungible tokens (NFTs) to enhance innovation in decentralized finance (DeFi). This read covers why this top DeFi project has the potential to surpass Dogecoin and the impact Ethereum’s ETH approval could have on its price.
InQubeta (QUBE): AI-Based Token Raises Over $8.6 Million in Early Funding
InQubeta focuses on the success of AI startups by incorporating a crowdfunding approach that allows interested investors to acquire fractions of these companies. The platform provides these opportunities as units of investment, represented by NFTs. Investors, irrespective of their financial budgets, can utilize QUBE to purchase the NFTs they believe in, supporting the startups and, in return, benefiting from rewards and equity.
At the start of this cryptocurrency ICO, InQubeta was worth $0.007 per token but has now surged to $0.0224 in seven presale stages, including the beta stage. This 220% increment tells of its bright future and potential to surpass other altcoins as it continues pulling more individuals to its presale, selling over 741 million tokens and raising over $8.6 million. After the tenth presale stage, the token will go live at a minimum price of $0.0308.
Aside from being a tradable digital asset, InQubeta is a top DeFi project that empowers its users to influence the platform’s direction actively. QUBE holders can propose, discuss, and vote on crucial decisions influencing InQubeta’s development and functionality. This democratic structure transforms token holders into active contributors and promotes a sense of ownership and collaboration.
Ethereum (ETH): Analysts Envisage 70% Rise By Its ETF Approval
Standard Chartered Bank said in a report last week that applications for ETH spot-based ETFs will likely win regulatory approval in the U.S. by May. Led by research head Geoff Kendrick, the StanChart analysts expect that the U.S. SEC will delay decisions on Ethereum ETF applications until the final deadline. This puts May 23 as a provisional day for approval, the date of final application deadlines by asset managers.
According to the report, the market underestimates the odds of approval, but the bank sees no fundamental reason for the SEC to treat Ethereum differently than Bitcoin. Heading into the expected approval date on May 23, ETH prices are predicted to rise nearly 70% from current levels and reach $4,000, according to Kendrick and his team.
Dogecoin (DOGE): 890,000 New Wallets Created In One Week
According to data from the on-chain analytics platform IntoTheBlock, the number of new addresses created on the Dogecoin network in 7 days was 890,000. This period accounts for one of the most significant spikes in new wallets on the DOGE network. IntoTheBlock offered a possible explanation for the spike in new wallets, which could be related to an increased interest in Doginals.
Despite the increased interest in the Dogecoin network over the last week, the price outlook for its native DOGE coin is still unfavorable, according to the machine learning algorithm at CoinCodex. The algorithm presented the likely movements of the DOGE price over the next few days to the next month, which are far from bullish. Currently, the price of Dogecoin is down 13% since the start of the year.
Conclusion
Based on the StanChart report, applications for spot Ethereum ETFs will likely be approved by May, and a price spike should be expected. Dogecoin has seen massive wallet creations in the past week, though its price has been underperforming since the start of the year. InQubeta, on the other hand, has a promising outlook, as evidenced by its proposition and initial coin offering milestones.
The cryptocurrency ICO offers a gateway to the future of AI-driven solutions and has individual and institutional investors flocking to its presale. Interested investors are advised to acquire the token from the website before its price goes up to $0.0255 in the eighth stage.
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