Polkadot and HUH Token Ready for a Big 2022
Despite a year-to-date return of 300%, Polkadot (DOT) appears to have been overlooked in recent months as newer blockchains such as Avalanche (AVAX) and Terra (LUNA) took centre stage. Likewise, HUH Token, which rocketed over 6000% since launch, was also lost in the noise following the December flash crash. But these two cryptos could be providing their best buy opportunities yet and may both be perfectly positioned for a big 2022.
While Polkadot’s year-to-date return of 300% is nothing to look down at, networks like Terra and Avalanche captured investors’ imaginations with year-to-date returns of 100x and 25x, respectively. Polkadot is down nearly 50% from its all-time high in November, as the global crypto market sold off.
Cryptocurrencies frequently experience price and interest spikes when investors see tangible examples of real-world adoption or when corporations announce coin acquisitions.
Polkadot could see a similar boost following news that Europe’s largest telecom company Deutsche Telekom has invested a “significant” amount in DOT. The telco giant will actively participate in Polkadot’s network by running validators on it. Validators confirm transactions on proof-of-stake blockchains and are rewarded for their participation, in this case with additional DOT. This growing involvement by the $90 billion Telco demonstrates their confidence in Polkadot’s technology and their intention to grow it as a part of their business in the future.
The number of developers on the DOT’s blockchain has more than tripled in the last year, from about 2,600 to nearly 10,000. Polkadot’s codebase dwarfs all previous years combined in 2021, with founder Gavin Wood estimating that 2 million lines of code have been written, up from 600,000 at the start of the year.
Why is this significant? Developers are drawn to thriving ecosystems where they perceive value, and they respond by creating new products and features that benefit the network. Having a robust developer community becomes a self-fulfilling prophecy in this way. When investing in a cryptocurrency project, you want to invest in assets that implement improvements and new use cases, not in coins that exist solely on hype and will eventually fail.
Solana, which rose from relative obscurity to become arguably the most prominent blockchain outside of Bitcoin and Ethereum in 2021, saw the number of developers working on the platform double the previous year in 2020, so the tripling of Polkadot’s developer count bodes well for the coming year.
At the end of 2021, Polkadot was overshadowed by newer assets such as Solana and Terra. Rapid development, a robust and rapidly growing developer community and growing real-world adoption by corporations should all contribute to 2022 being a banner year for Polkadot.
HUH Token (HUH)
In a similar fashion, HUH Token has a remarkable YTD return of over 1000%. HUH Token was released on PancakeSwap on December 6 and surged over 6000%, but following the widespread crash of the crypto market since the beginning of December, it got lost in the noise as wary investors took an unfavourable stance on cryptos in general.
But as previously mentioned, wild swings are commonplace within the crypto market and positive news around the crypto market seems to be gaining momentum, with big firms such as JP Morgan recently announcing that they believe Bitcoin will hit $100,000 within the next 5 years.
HUH Token is perfectly positioned within a very niche part of the cryptocurrency market and is building something that no other crypto is doing. HUH Token aims to facilitate the tokenization and thus monetisation of influence and content creation.
We live in a world where content and information are consumed constantly and rapidly, owing to the internet’s global reach. Cryptocurrencies are now a natural extension of the global internet revolution and while content creators and influencers may face difficulties in monetizing their intellectual property, likeness, and image, the blockchain and the HUH Token plan on filling that gap.
Just look at the huge numbers surrounding NFT’s in 2021 and the millions of dollars spent on digital yachts, plots of land in the metaverse, or pieces of art, and the picture of this still fledgling billion-dollar industry begins to emerge.
HUH Token has partnered with thousands of top social media influencers, artists, and content creators to create an ecosystem that allows these individuals to be compensated for their intellectual property. HUH plans to use NFTs and a proprietary platform called the Met-HUH-verse to create and enhance value for content producers and influencers. All the details of which are outlined in their WhitePaper. These one-of-a-kind creator tokens provide increased access to the creator, enabling both artists and fans to transact large sums of money quickly and securely.
HUH currently has over 15,000 holders, and with additional listings on Uniswap and other exchanges on the horizon, the token’s continued growth will increase demand, resulting in an increase in price.
According to its creators, on January 19th hundreds of influencers will begin posting about the token on Instagram and Twitter, which should also benefit the price.
Learn More About HUH Token Here:
HUH Official Swap: https://swap.huh.social/