Top 3 Cryptocurrencies to Buy This Christmas – Ethereum, Solana and HUH Token
The cryptocurrency market has historically seen massive gains during the Christmas season, with Bitcoin and Ethereum more than doubling in value between December 2020 and January 2021. With this in mind, here are three cryptocurrencies that have enormous potential for December and beyond, including the newly released HUH Token that has already surged over 400%.
Ethereum (ETH) is unlikely to deliver a return of 100X or greater in the next 12 months, as some cryptocurrencies have. It has, however, already generated a gain of more than 6X this year, which is quite impressive.
However, the primary reason Ethereum is included on this list is that it is already the second-largest cryptocurrency in terms of market capitalisation, and some believe it will eventually dethrone Bitcoin and take the top spot.
The primary advantage of Ethereum is that it is the most widely used blockchain platform that supports smart contracts, giving it a greater degree of real-world utility than any other cryptocurrency. While cryptocurrencies are frequently chastised for lacking intrinsic real-world value, Ethereum has repeatedly demonstrated its plethora of practical, real-world applications. Ethereum powers thousands of decentralised applications, and the Ethereum platform is currently home to a number of popular cryptocurrencies.
Additionally, Ethereum supports non-fungible tokens (NFTs), which are a rapidly growing segment of the cryptocurrency market at the moment.
As I write this, I can hear the cries of Ethereuem’s closest rivals with numerous legitimate reasons to abstain from purchasing Ethereum. It charges exorbitantly high fees and operates at a significantly slower rate than competitors. However, changes are on the horizon.
Ethereum will be upgraded to Ethereum 2.0 in 2022. The changes will significantly improve the scalability and security of the platform. Transaction speeds should significantly improve. Charges for transactions should be reduced. Furthermore, Ethereum 2.0 will consume less computing power and energy, making it more eco-friendly. With all these changes in mind this cryptocurrency has to be first on the list for any crypto portfolio.
My second December cryptocurrency pick is arguably Ethereum’s strongest rival. Solana (SOL) has a market capitalisation of approximately $63 billion, making it the fifth-largest cryptocurrency in the world.
That is remarkable, especially given Solana’s launch date of March 2020. The cryptocurrency has increased by more than 11,500% this year alone.
As with Ethereum, Solana is capable of a wide variety of real-world applications. It is the world’s most rapidly growing blockchain technology. The Solana ecosystem currently supports approximately 500 projects, ranging from decentralised finance (DeFi) applications to games and non-financial transactions (NFTs).
Solana has surpassed Ethereum in some ways. It is light years ahead of Ethereum in terms of transaction speed. Solana’s transaction costs are less than $0.01 at the moment and are expected to remain extremely low.
Of course, the Ethereum 2.0 upgrade has the potential to alter the dynamics significantly. My guess is that newer challengers will struggle far more than Solana, which has already gained significant traction and is rapidly catching up to Ethereum.
While Solana remains risky, I believe that, barring a significant and sustained decline in the price of cryptocurrencies in general, they will continue to deliver significant gains through 2022 and beyond.
HUH Token (HUH) is unique among the cryptocurrencies on this list in that it has just launched and has yet to establish itself. However, as we have seen with Shiba Inu and Floki Inu, getting in early on these types of cryptocurrencies can result in eye-popping returns. For instance, a $150 investment in Shiba Inu at the start of the year would have already made you a millionaire.
However, HUH Token aspires to be more than just another meme token and has detailed its strategy for achieving real-world utility and value in its recently released White Paper.
As stated in the White Paper, “The dream of HUH Token is a decentralised metaverse in which everyone benefits from the data they generate. The data generated through engagement, whether it is information, opinion, images, sound, or another form of self-expression, generated value for influencers and individuals, because all data generates influence, and HUH believes that influence is a currency that should be shared for the greater good “‘.
This concept of “tokenising” influence is unheard of in the cryptocurrency space and has the potential to resonate with the creative and influencer communities. Musicians, artists, and influencers can use this cryptocurrency and its associated social network, “MetHUH,” to monetise their works or “influence” by exchanging HUH Tokens.
HUH Token’s creators assert that they have created the world’s first ‘UTIMEME’ cryptocurrency, which combines the strength of ‘meme’ tokens with the usability of utility tokens. “Tokenomics will accelerate the growth of the HUH token, which will serve as the medium of exchange and reward across a meaningful social network called ‘MetHUH,’ where users’ data ownership is taken seriously from a cryptocurrency-first perspective. With the HUH social network, MetHUH, anyone in HUH can be rewarded for content exchanges and engagement “‘.
HUH Token’s launch has been incredibly successful and it has already surged over 400%. Investors can expect plenty of volatility early on but with strong fundamentals and it’s real-world utility, HUH Token could become the next crypto millionaire maker.
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