In a bid to maintain transparency, the leading crypto exchange Binance (BNB) recently published a breakup of its reserves. According to Mazars, on January 1, Binance’s Bitcoin reserves were over-collateralized by 103.79%.
The figure meant that the exchange had more Bitcoin tokens than what was needed to cover its liabilities. Analysts claim that the information serves as an assurance to crypto users that their assets are safe with Binance.
In other news, InQubeta (QUBE) and Celestia (TIA) emerged as the best altcoins to buy now with their robust growth. For InQubeta, its popularity has also picked up pace after its presale funding crossed $8.3 million recently. It’s a decentralized platform where startups can find investors for their artificial intelligence-based projects.
InQubeta: Accelerating growth with AI innovation
InQubeta has a straightforward model that promotes innovation and helps startups find investors for their AI projects. The two sides interact through an NFT marketplace, which also allows fractional investment.
The assets sold at the marketplace are created by tokenizing the offers submitted by the startup for potential investors. These offers contain all information about a startup project and the rewards investors will get in exchange for backing a project.
These NFTs can be bought with the QUBE token which is the official medium of exchange within the InQubeta ecosystem. The token supply is capped at 1.5 billion and a large part of it is allocated for public sale.
The team has only set aside 35% of the tokens for meeting operational expenses like giving out rewards, funding marketing campaigns, paying developers and legal advisors, and maintaining liquidity.
Another key usage of the token is for staking. When an asset is staked, it’s locked in a liquidity pool and supports a platform’s future growth. The owners are given rewards throughout the staking period from a separate pool. The pool is financed by tax collections.
It’s an opportunity for token holders to earn passive income. The opportunities that the QUBE token can unleash make it one of the top crypto coins.
InQubeta works with a decentralized governance structure where all stakeholders are involved in making decisions. The token holders are given voting rights to participate in the vote for approving a proposal for protocol change.
Unless all token holders are on board, a protocol change cannot be implemented. Community members can also suggest changes if they feel the feature can improve the scope of InQubeta’s protocol.
Binance Thailand opens for trading
Binance is a decentralized exchange where one can buy, sell, and swap crypto assets. It’s powered by the Binance blockchain and its native token is known as Binance Coin (BNB).
The platform left crypto users and analysts impressed after a report showed that its Bitcoin holdings were over-collateralized by more than 100%. The audit report further revealed that Binance’s holdings of other cryptocurrencies like Ethereum, Tether, and USDC were also more than 100%.
Binance was in the news recently after its joint venture crypto exchange Binance Thailand opened for trading for the public in the Asian country. Binance had joined hands with Gulf Innova to establish the crypto trading platform.
Celestia-powered testnet Nitrogen goes live
Celestia is an open-source platform that provides a data availability network for deploying blockchains. Its code architecture makes it easy to scale a network as the number of users increases. Its native token is TIA and it has been hailed as one of the best crypto investments of 2024,
As Celestia makes rapid strides in the market, it has been drawing investors from across the world. Analysts believe that it might be a good decision for TIA token holders to bolster their holdings. Using Celestia’s capability, the platform helps developers in creating orbit chains cost-effectively and quickly.
In a recent development, Nitrogen, a testnet built by Arbitrum and on Celestia’s data availability framework, went live for users.
Conclusion
Binance, InQubeta, and Celestia are good cryptos to buy if you are looking to diversify your portfolio. These three tokens capture the potential of DeFi and can promote long-term growth. You can leverage them to create a sustained source of passive income.
The three cryptocurrencies are powered by cutting-edge blockchains which gives them an edge over other crypto assets. These blockchains pave the way for seamless user journeys and help crypto users realize the full potential of DeFi.
