Within three days of its inception on January 10, Bitcoin Exchange-Traded Funds (ETFs) have amassed a total trading volume of approximately $10 billion, making a remarkable impact in the frenzy of activity within the cryptocurrency market.
This increase in trading activity has been explained as the digital asset market’s ongoing development and the rising popularity of bitcoin investment vehicles. The enthusiasm and swift acceptance of these exchange-traded funds (ETFs) among investors underscores the latent need for regulated and easily obtainable financial products in cryptocurrency.
Solana to Dominate DApps, InQubeta Sets to Outperform Presale Target
Aside from Bitcoin ETF’s successful trading volumes, other prominent participants in the cryptocurrency space have also taken significant steps to fortify their market positions. Due to its robust blockchain architecture, Solana is becoming more popular with developers and consumers, positioning it as a favored platform for Decentralized Applications (DApps).
The platform has distinguished itself by handling large transactions at minimal costs, drawing users and projects looking for scalability and efficiency in the decentralized finance (DeFi) sector.
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Market data extracted from EthNews shows that the 11 approved ETF companies collaborated to manage a considerable trading volume of $10 billion three days.
Thus is happening after its official launch on January 10. The data also exonerated Solana (SOL) and InQubeta (QUBE) as the top-performing altcoins in the bullish rally. Solana and InQubeta price movements have remained aggressively consistent in growth and are moving higher towards a better price position.
InQubeta Commended for Being a Strong Price Resistance Assets
While analyzing the development, John Kiguru, a market watcher with EthNews, says that InQubeta management used an easy but effective method often seen in most business development processes to make its fundraising process more accessible than it used to be. InQubeta has recently been applauded for its unique features, making it easier for investors in the AI niche to up their game.
Kiguru also said that InQubeta has created a more open NFT marketplace that allows a small number of investors to access the NFT. InQubeta token is currently running on ERC-20 and has been termed the best cryptocurrency asset to buy at this time for people who wish to protect their assets against market volatility.
The reason for the strong market volatility resistance is connected to its deflationary model feature. InQubeta management had explained that, in case of complex situations like inflation, the model guards it against market fluctuation by reducing the price through creating an intentional scarcity.
Expert Says ETFs Already Raised $450 Million in Trading Volume
Solana made the news recently after its Drift, its future trading network, launched its reward program. The report also says that Drift is working on releasing its Token after closing up its program sometime in March.
The company also said it will be giving out its rewards on a weekly basis. It is expected to start February 2. Eric Balchunas from Bloomberg also added that the 500 ETFs introduced in 2023 have already raised $450 million in trading volume as of today, January 29.
Meanwhile, as of January 17, Grayscale BTC had a $1.1 billion outflow and is still responsible for half of the total trading volume of the spot Bitcoin ETF trading. InQubeta, on the other hand, is coming closer to its presale price performance, which has already raised more than $8.5 million as of press time.