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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) take center stage. Likewise, the HUH Token, which has jumped over 6000% since launch, was lost in noise after the flash crash in December. But these two cryptocurrencies could offer the best buying opportunities yet and may be positioned perfectly in the big 2022.
While Polkadot’s 300% annual return isn’t something to look at, networks like Terra and Avalanche have captured investors’ imaginations with annual returns of 100x and 25x, respectively. Polkadot is down nearly 50% from its all-time high in November, as the global crypto market sells off.
Cryptocurrencies often experience spikes in price and interest when investors see concrete examples of real-world adoption or when companies announce coin acquisitions.
Polkadot could see a similar boost after news that Europe’s largest telecom operator Deutsche Telekom has invested a “significant” amount in the Ministry of Transport. The telecom giant will actively participate in the Polkadot network by running auditors on it. Verifiers confirm transactions on the Proof of Stake blockchain and are rewarded for their participation, in this case with an additional DOT. This increased participation by the $90 billion Telco company demonstrates their confidence in Polkadot’s technology and their intent to grow it as part of their business in the future.
The number of developers on the DOT blockchain has more than tripled in the past year, from about 2,600 to nearly 10,000. Polkadot’s code base dwindles in all previous years combined in 2021, with founder Gavin Wood estimating that two million lines of instructions have been written. software, up from 600,000 at the beginning of the year.
Why is this important? Developers are drawn to thriving ecosystems where they recognize value, and respond by creating new products and features that benefit the network. Having a strong 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 existing coins just because of the hype and will eventually fail.
Solana, which rose from relative obscurity to become the most prominent blockchain outside Bitcoin and Ethereum in 2021, saw the number of developers working on the platform double in the previous year in 2020, so the tripling of Polkadot developers bodes well for the future. general.
At the end of 2021, Polkadot was overshadowed by newer assets such as Solana and Terra. Rapid development, a strong and rapidly growing developer community, and the growing adoption of the real world by companies should all contribute to making 2022 a milestone year for Polkadot.
HUH Token (HUH)
In a similar way, HUH Token has a remarkable YTD return of over 1,000%. The HUH token was released on PancakeSwap on December 6 and soared over 6000%, but after the widespread crash of the crypto market since the beginning of December, it has been lost in the hype as cautious investors take an unfavorable stance on cryptocurrencies in general.
But as mentioned earlier, wild volatility is common in the cryptocurrency market and positive news about the crypto market appears to be gaining momentum, as major companies such as JP Morgan recently announced that they believe Bitcoin will reach $100,000 within the next five years.
The HUH Token is perfectly positioned in a very niche part of the cryptocurrency market and is building something that no other cryptocurrency does. HUH Token aims to facilitate coding and thus monetization of influence and content creation.
We live in a world where content and information are being consumed constantly and rapidly, due to the global reach of the Internet. Cryptocurrencies are now a natural extension of the global internet revolution, and while content creators and influencers may struggle to monetize their intellectual property, likeness, and image, the blockchain and HUH Token plan to fill this gap.
Just look at the huge numbers surrounding NFT in 2021 and the millions of dollars spent on digital yachts, plots of land in the metaverse or art pieces, and the picture of this emerging billion dollar industry begins to emerge.
HUH Token has teamed up with thousands of top social media influencers, artists, and content creators to create an ecosystem that allows these individuals to redeem 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 details are specified in their WhitePaper. These unique tokens provide creators with increased access to the creator, enabling artists and fans to transact large amounts of money quickly and securely.
HUH currently has more than 15,000 owners, and with additional listings on Uniswap and other exchanges on the horizon, the token’s continued growth will drive demand, leading to an increase in price.
According to its creators, on January 19th, hundreds of influencers will start posting about the token on Instagram and Twitter, which should also benefit the price.
Learn more about HUH Token here:
HUH’s official exchange: https://swap.huh.social/