Crypto Quill

The approval of the first Bitcoin ETFs by the US SEC was expected to be a catalyst for the BTC price, but the opposite has happened. Bitcoin has been on a downward trend since the ETFs started trading, while other cryptocurrencies like InQubeta (QUBE) and Solana (SOL) have seen impressive gains.

Bitcoin ETFs: A Disappointment for the Market

On January 10, the US SEC approved 11 applications for Bitcoin ETFs, allowing investors to gain exposure to the leading cryptocurrency through a regulated and convenient vehicle. The ETFs began trading on January 11, attracting a high volume of over $9.4 billion in the first three days.

However, the market reaction was not as positive as many had hoped. Bitcoin briefly surpassed $48,000 on the day of the ETF launch, but since then it has been declining, reaching as low as $35,000 on January 28. Some analysts attribute this to the fact that the ETFs are based on futures contracts, which incur high fees and tracking errors, rather than the spot price of Bitcoin. Others point out that the ETFs have increased the selling pressure on Bitcoin, as some investors may have sold their BTC holdings to buy the ETFs.

InQubeta and Solana: The Rising Stars of the Crypto Space

While Bitcoin has been struggling, some other cryptocurrencies have been thriving, attracting investors with their innovative features and strong fundamentals. Two of the most notable examples are InQubeta (QUBE) and Solana (SOL), which have become the go-to choices for significant gains.

InQubeta is a new project that aims to create the first crypto-based crowdfunding platform for tech startups, especially in the AI sector. It also plans to launch an NFT marketplace, where investors can buy fractionalized interests in AI startups through equity-based NFTs. InQubeta has a deflationary token model, which means that its supply decreases over time, increasing its value. The project is currently in its presale stage, and has already raised over $900,000, with more than 45 million tokens sold. According to analysts, InQubeta has the potential to rally 55x after its launch, making it one of the best new cryptos to invest in.

Solana is another project that has been making waves in the crypto space, thanks to its high-speed, low-cost, and scalable blockchain. Solana claims to be able to process over 50,000 transactions per second, with an average fee of less than $0.01. Solana also supports a vibrant ecosystem of decentralized applications, especially in the fields of DeFi, NFTs, gaming, and social media. Some of the most popular projects built on Solana include Serum, Audius, Star Atlas, and Metaplex. Solana has seen a remarkable price performance, rising from $1.51 at the start of 2023 to over $200 at its peak in September. Although it has corrected since then, it still remains one of the top 10 cryptocurrencies by market cap, and has a loyal and growing community of supporters.

Diversifying the Crypto Portfolio

The contrast between Bitcoin and other cryptocurrencies shows that the crypto market is not homogeneous, and that different factors can affect the price movements of different coins. While Bitcoin ETFs may have been a disappointment for some, they have also opened the door for more institutional and retail adoption of crypto in general. Investors who want to diversify their crypto portfolio and take advantage of the opportunities in the market may want to consider adding InQubeta and Solana to their holdings, as they have proven to be resilient and innovative projects with a lot of potential.