Battle of the Utility Coins During Summer Bull Run: HedgeUp, SOL, ETH
Crypto enthusiasts are spoiled for choices this year. As summer heats up, millions of adherents are trying to decide which tokens will give them the best returns. Some will go with established blockchains, some will choose the frivolity of meme coins, and some will pick a newcomer with the potential to go to the moon.
While meme coins can make you look like a crazy genius when you pick the right one, typically, they don’t pan out. A project with plenty of utility behind it offers more than just a token. Those projects are pushing the Web3 space forward in addition to profits that might be had from trading the coin.
Here are three projects that will be battling it out this summer.
The number two token by market cap is where it is for a reason. The creators of Ethereum (ETH) saw the writing on the wall long ago and built a blockchain that is the king of utility. Ethereum is a Layer 1 blockchain that hosts an unprecedented number of decentralized applications (dApps) and smart contracts.
Ethereum (ETH) also has its coding language, Solidity, token creation protocols, the Ethereum Name Service (ENS), and many other features. Because of all this utility, the Ethereum faithful is patiently waiting for the Flippening – the point where Ether passes Bitcoin in market cap.
In short, there are many reasons to infuse in the blockchain’s native coin, ether. However, even with the recent migration to proof of stake (PoS), Ethereum (ETH) hasn’t dealt with the blockchain trilemma well. That, in and of itself, might be enough to hold Ethereum (ETH) back this year.
No king rules forever, and Solana was explicitly created for taking the crown from the Ethereum blockchain. Like Ethereum (ETH), Solana (SOL) aims to be a platform for dApps and smart contracts. It uses a consensus mechanism that combines proof of stake with Proof of History (PoH). This gives Solana an agile network capable of processing 50,000 transactions per second.
On top of that, Solana is a blockchain that has been very conscious of social issues. From the beginning, it has been designed to defend the environment by keeping its carbon footprint as small as possible. This has helped it build a community of like-minded people.
HedgeUp (HDUP) isn’t live yet, but that hasn’t stopped it from garnering more than its fair share of attention. This is because it is doing something nobody else has done before. The team behind HedgeUp (HDUP) wants to bring alternative assets to the blockchain.
Alternative assets are a class of assets that are outside traditional options. While it is a very broad field, HedgeUp (HDUP) concentrates on high-end items such as art, luxury watches, and exotic liquors.
HedgeUp (HDUP) will create NFTs representing shares of ownership of these items. With the HedgeUp (HDUP) token, users can buy asset-backed NFTs and participate in owning an asset they might be otherwise priced out of. The presale of HedgeUp (HDUP) is currently in its third stage, with HedgeUp (HDUP) going for a mere $0.020.
For more information about HedgeUp (HDUP) presale, use the links down below:
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