Ethereum (ETH) has garnered increasing interest as its battle with the SEC looms regarding its status as a security. This impending revisit to Ethereum’s classification could contradict the CFTC’s (Commodity Futures Trading Commission) token assessment and challenge its regulation. While this token faces scepticism, the Filecoin (FIL) and Polkadot (DOT) challenger, InQubeta (QUBE), makes major moves ahead of its launch.
This new altcoin has captured the attention of all sorts of investors with its revolutionary model, which provides an opportunity without budget dependency. Users can support the growth of the artificial intelligence industry by participating in crowdfunding for AI tech startups on this blockchain ICO. This article highlights the major moves this Filecoin and Polkadot challenger is making and the battle for Ethereum’s classification.
InQubeta (QUBE): Top AI ContenderÂ
InQubeta is a blockchain ICO with ties to the artificial intelligence industry, providing funding for AI tech startups. This platform uses a crowdfunding model to ensure all users benefit from the limited opportunities. Vetted companies are empowered to mint their utility into non-fungible tokens (NFTs) and list them on the platform’s marketplace for sale. These NFTs are fractionated, ensuring that affordability is guaranteed.Â
InQubeta’s contribution towards empowering these startups is entrenched in a transparent DeFi model. The network has passed audits from Hacken and Block Audit and ensures high security with its Ethereum-supported platform. The project garners much attention, with investors eyeing it as a potential gem for generational wealth.
For funding support, InQubeta launched a presale for its native token, QUBE. The presale has been successful, raising nearly $12.4 million over nine presale stages. The ninth stage is ongoing and selling at $0.028. Over 923 million of the 975 million tokens slated for public sale have been purchased, proving the positive sentiment around InQubeta’s offerings. The token remains a top contender for the best altcoins for investments in 2024, challenging other AI tokens like Polkadot and Filecoin for the top spot.
Ethereum (ETH): The Battle For Classification Re-emerges
A recent Fortune report has highlighted the possibility that the US SEC is pushing to classify Ethereum as a legal security. While no official confirmations have been made, analysts and industry leaders express their displeasure at this news, highlighting its contradictions and the impact on the general market if implemented. The CTFC’s stance on ETH and that of federal courts have consistently classified the token as a commodity, with ETH futures contracts trading on CTFC-regulated exchanges.
Prominent figures like the Coinbase Chief Legal Officer, Paul Grewal, have challenged the SEC’s position with arguments that show the SEC has no sufficient basis to classify ETH as a security. These arguments further state that no sensible reasons exist for rejecting the spot ETH ETFs. This move by the SEC would heavily contradict the CFTC’s involvement, as the former regulates securities while the latter governs commodities.
Filecoin (FIL): Increasing Development Activity For This AI Token
Despite its position on the crypto list, FIL is proving to be a strong competition for the best altcoins with its powerful framework and price spikes. Demand for FIL, a data storage network offering a marketplace that supports varying applications, continues to rise as its token price surges. The Filecoin platform has entered several partnerships which analysts predict could boost its DeFi activity.
The recent announcement from Bitcoin Virtual Machine (BVM) to launch their new AI-centric platform has put Filecoin in the spotlight. The blockchain network would supply storage layers for the AI models on the new platform called TrulyOpenAI. FIL is firmly positioned as a strong contender for the top cryptos to invest in for the 2024 bull run.
Polkadot (DOT): Bullish Outlook As Bull Run Approaches
Analysts have highlighted Polkadot as a top pick for the next crypto wave. The token shows bullish momentum as its price movement attracts investors. Despite its downtrend in the past week, DOT has surpassed the $9.19 support level and is experiencing increasing buying pressure.
The newly launched meme coin on the Polkadot chain, Pink (PINK), has increased activity on the network. With the upcoming airdrop, sentiment around the DOT token shows signs of a possible surge to the $10 mark. With its late entry into the meme space and plummeting development activity, the token lags behind other altcoins. This pivotal movement could be the necessary catalyst to push Polkadot into the limelight and trigger a bullish trend for DOT.
Conclusion
Ethereum continues to soar despite the news regarding the possibility of a new classification. FIL and DOT have been cast in a bullish light as developments on both networks continue to intrigue investors. InQubeta’s prevalent presale and growth potential have put the token on the radar for those seeking gem coins for generational wealth.
