There’s no other market in the world where prices have surged by more than 77.5 million per cent in one year, except for the cryptocurrency market. Meme coin Shiba Inu did just that. A $1,500 investment in Siba Inu would be worth more than $1 billion today if you invested a year ago.
But there are few practical uses for Shiba Inu, and its price has skyrocketed mainly due to hype. A repeat performance of this magnitude is nearly impossible. As a result, Ethereum, Solana, and HUH Token may be better options for cryptocurrency investors.
The most promising looking cryptocurrency on this list is HUH Token, mainly due to the fact that it is about to launch, and if Shiba Inu’s success story has taught us anything, it’s that you need to get in early.
There will be $1 million locked in liquidity when HUH Token launches on December 6th. PancakeSwap and Uniswap, two well-known cryptocurrency exchanges, have agreed to list the exciting new coin with $500,000 in liquidity locked in for two years, something not many cryptos do.
The idea behind the locked liquidity is to increase investors’ faith in this token and increase stability.
In order to further amplify this sentiment, HUH Token is introducing a referral programme. Referring new investors to HUH Token via a unique code will result in a 10% commission on their initial investment as Binance (BNB). The holders of this code can continue to earn BNB with each new referral, indefinitely.
HUH Token is currently in pre-sale and its founders appear adamant about emulating Shiba Inu’s tremendous growth and success.
HUH Token is also rumoured to have thousands of top social media influencers signed on to promote it.
When you’re looking for the value it’s hard to find crypto with stronger fundamentals and practical features than Ethereum. Programmers can create their own blockchains using Ethereum’s distributed ledger technology. Smart contracts are computer programmes that automatically execute based on predetermined criteria. This means that the network, in addition to holding transaction data, may run smart contracts. Decentralized finance (DeFi) applications are built on this technology, enabling bitcoin borrowing, saving, and lending.
In addition, DeFi services provide a more inexpensive and inclusive financial system by eliminating the need for intermediaries like banks thanks to blockchain technology. There are currently $170 billion in Ethereum DeFi goods locked in, a more than 1,000 percent increase from November 2020, as a result. As a result, the Ethereum blockchain is by far the most popular DeFi ecosystem.
There is a cost to running DeFi programmes. This means that the network’s native coin must be used to pay transaction fees. To put it another way, when demand for DeFi services increases, so does the price of the cryptocurrency.
Decentralized apps like smart contracts and other decentralised apps can run on Solana’s programmable blockchain like Ethereum (dApps). Solana, on the other hand, was built to be speedier and more scalable than other platforms, which could lead to a large growth in its popularity in the future.
To understand why this is important, context is necessary. The second step of Ethereum’s upgrade will take place in 2022. In order to boost throughput, more computing resources are used to distribute the workload. There are currently 30 transactions per second (TPS) on the Ethereum network, but that will expand to 3,000 TPS once the initial phase is completed.
However, Solana is capable of managing 50,000 TPS. Solana is now the world’s fastest blockchain, with near-instant finalisation times and amazing throughput. Scalability improves as a result of the network’s ability to handle more traffic than other alternatives.
Currently, Solana’s DeFi products are worth $14.1 billion, making it the third-largest DeFi ecosystem behind Ethereum and the Binance Exchange. A surge in Solana’s price could occur if the demand for DeFi services grows and Ethereum’s network cannot keep up with it.
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