Top 3 Cryptos Right Now – Cardano, Tezos and HUH Token
This past week brought what could turn out to be an early Black Friday bargain for investors shopping for leading cryptocurrencies. The majority of big-cap cryptocurrencies have taken a knock recently, giving investors the chance to get in at a discounted rate. Plus, a new cryptocurrency called HUH Token is wrapping up its presale this week as it gets ready to launch on December 6, offering holders the perfect opportunity to be on ground zero of an extremely promising initial coin offering (ICO).
Over the last decade, investors who took a “buy the dip” approach to risk assets have been rewarded handsomely. There are plenty of juicy discounts to be had with popular cryptocurrencies for individuals looking to do just that. Here are three excellent choices to think about right now.
Cardano (CRYPTO:ADA), the sixth-largest cryptocurrency by market capitalization, is one of the cryptocurrencies that has been under pressure recently. Cardano has dropped more than 45% of its value after achieving an all-time high of $3.10 on September 1.
The network’s speed and scalability are two of the main reasons why investors appreciate Cardano. Cardano is currently capable of processing more than 250 transactions per second, compared to 4.6 for Bitcoin (CRYPTO:BTC) and 15 to 20 for Ethereum (CRYPTO:ETH). As the network continues to be updated, these figures are projected to climb. Cardano is a fast cryptocurrency network with a huge market valuation.
Cardano’s proof-of-stake technology has also piqued the interest of investors looking for alternatives to Bitcoin and Ethereum. While Ethereum is building toward a proof-of-stake paradigm, Cardano is still one of the largest proof-of-stake networks currently available to investors.
Cardano’s recent price drops appear to be the result of two major issues.
First, developers have been slower to implement decentralised finance (DeFi) apps on the network. Cardano now has smart contract functionality thanks to the Alonzo hard fork. As a result, this token was bid up earlier in August in anticipation of its introduction on September 12th. However, a lacklustre performance on this front has prompted a sell-off among investors.
Additionally, eToro, a cryptocurrency exchange, said this week that it will delist Cardano. Regulatory issues were mentioned as the reason for the decision, albeit there were few details provided. As a result, investors are wary of Cardano right now.
However, for those who are looking to buy Cardano in the long run, these short-term headwinds could be a terrific opportunity. As investors continue to look at proof-of-stake networks with smart contract capabilities and growth potential, there’s a compelling case to be made for owning this top cryptocurrency right now — especially at such a low price compared to recent highs.
Tezos (CRYPTO:XTZ) is a cryptocurrency that investors will have to look for a little farther down the list. This is yet another token that has just been knocked down by the market. Tezos has dropped over 45% of its value since hitting a high of $9.18 on Oct. 3.
However, the outlook continues to be bullish on this cryptocurrency for a variety of reasons.
Tezos is a market leader in security tokens. Tezos’ Layer 1 platform (which refers to actual blockchains and their tokens) enables the tokenization of assets that are typically traded off-chain. Consider the numerous financial products that investors can purchase on a stock exchange (stocks, bonds, etc.).
Tezos is a cryptocurrency that allows assets to be traded on the blockchain. Investors can diversify their portfolios on the blockchain by tokenizing numerous asset types in a secure and frictionless manner.
Tezos’ self-amending blockchain is one of the features that makes it so appealing in the security token sector. Tezos’ blockchain has an on-chain mechanism to update, rather than needing simultaneous updates from nodes on the network (like the aforementioned Alonso hard fork Cardano recently implemented).
Unfortunately for Tezos investors, it appears that increased regulatory issues in the cryptocurrency market are continuing to be a headwind for tokenization networks. The Biden administration has lately taken steps to increase the taxation of Bitcoin. For quite some time, the Securities and Exchange Commission has been investigating whether or not numerous crypto-related assets are considered “securities” under the law. And, for the time being, countries like China and India look to be unyielding in their attitude on bitcoin.
Those with a longer time perspective, on the other hand, may want to consider a future in which blockchain technology might genuinely make a difference in the world. Tezos, as a leader in security tokens, offers a strong investment thesis in the DeFi area. This is one area where there could be enormous value in the next years and decades.
HUH Token is the one cryptocurrency on this list with the most potential for massive gains, especially in the short term. Buying this token might be a bit of a gamble because it is only in presale and yet to launch, but it’s the sort of gamble that could make you a millionaire, as we’ve seen with other meme coins like Dogecoin, Shiba Inu or Floki Inu.
New meme coins have a tendency to explode, under the right conditions, in a way that the large-cap cryptocurrencies can’t do anymore. HUH Token is rumoured to have thousands of top social media influencers signed on to help create those explosive conditions.
But the creators of HUH Token say they want to be more than just another meme coin and have dubbed their token a “Utimeme”, the combination of the words “utility and “meme”.
HUH Token is deploying a referral programme, where a holder can refer another person using a unique code that will result in a 10% commission of that new person’s initial investment. The commission will be earned in Binance Coin (BNB) or Ethereum (ETH) depending on the exchange used to buy HUH Token. Furthermore, holders of this code can continue to earn BNB or ETH with each new referral indefinitely.
HUH Token is launching on PancakeSwap and Uniswap on 6 December and its creators have announced that $1 million of liquidity will be locked in for two years from its launch in an effort to make the token more stable and entice people to hold long-term.
Follow HUH Token on their Socials before they Launch: