Black Friday crypto deals: Cardano, Tezos and HUH Token
This week has brought what could turn out to be a Black Friday deal for investors looking to buy leading cryptocurrencies. The majority of big-cap cryptocurrencies have recently dropped in value, allowing investors to enter at a lower cost. Furthermore, a new cryptocurrency called HUH Token is wrapping up its presale this week as it prepares to launch on December 6th, giving holders the ideal opportunity to get in from the beginning of this promising crypto’s journey.
Investors who took a “buy the dip” approach to risk assets have profited handsomely over the last decade. For those looking to do just that, there are plenty of enticing discounts to be had with popular cryptocurrencies. Here are three excellent options to consider right now.
Cardano (CRYPTO:ADA), the sixth-largest cryptocurrency by market capitalization, is one of the coins that has recently come under pressure. Cardano’s value has dropped by more than 45 per cent since reaching an all-time high of $3.10 on September 1.
Cardano’s network speed and scalability are two of the main reasons why investors like it. Cardano currently has a transaction rate of over 250 transactions per second, compared to 4.6 for Bitcoin (CRYPTO:BTC) and 15 to 20 for Ethereum (CRYPTO:ETH). These figures are expected to rise as the network is upgraded. Cardano is a lightning-fast cryptocurrency network with a massive market cap.
Cardano’s proof-of-stake technology has also piqued the interest of investors looking for Bitcoin and Ethereum alternatives. While Ethereum is moving toward a proof-of-stake paradigm, Cardano remains one of the largest proof-of-stake networks available to investors today.
The recent price drops in Cardano appear to be the result of two major issues.
For starters, developers have been slow to deploy decentralized finance (DeFi) apps on the network. Because of the recent Alonzo hard fork update, Cardano now has smart contract functionality. As a result, this token was priced up earlier in August in anticipation of its September 12th launch. However, a lackluster performance on this front has prompted an investor sell-off.
Moreover, eToro, a cryptocurrency exchange, announced this week that it will delist Cardano. Although few details were provided, regulatory issues were cited as the reason for the decision. As a result, investors are currently wary of Cardano.
However, for those looking to invest in Cardano in the long term, these short-term headwinds could be a fantastic opportunity. As investors continue to look at proof-of-stake networks with smart contract capabilities and growth potential, there’s a strong 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 yet another token that has been pulled down by the market. Tezos has lost more than 45 per cent of its value since reaching a high of $9.18 on Oct. 3.
However, the outlook for this cryptocurrency remains positive for a variety of reasons.
Tezos is a security token market leader. Tezos’ Layer 1 platform (which refers to actual blockchains and tokens) allows for the tokenization of assets that are typically traded off-chain. Consider the numerous financial products available to investors on a stock exchange (stocks, bonds, etc.).
Tezos is a cryptocurrency that allows for the trading of assets on the blockchain. By tokenizing various asset types in a secure and frictionless manner, investors can diversify their portfolios on the blockchain.
One of the features that makes Tezos so appealing in the security token sector is its self-amending blockchain. Tezos’ blockchain has an on-chain mechanism for updating, rather than requiring simultaneous updates from network nodes (like the aforementioned Alonso hard fork Cardano recently implemented).
Unfortunately for Tezos investors, it appears that increased regulatory issues in the cryptocurrency market are still a challenge for tokenization networks. The Biden administration has recently taken steps to increase Bitcoin taxation. For quite some time, the Securities and Exchange Commission has been investigating whether or not a variety of crypto-related assets are legally classified as “securities.” For the time being, countries such as China and India appear to be unyielding in their stance on bitcoin.
Those with a longer time horizon, on the other hand, might want to consider a future in which blockchain technology can truly make a difference in the world. Tezos, as a market leader in security tokens, provides a compelling investment thesis in the DeFi space. This is one area where there could be a lot of money in the coming years and decades.
HUH Token is the cryptocurrency on this list with the greatest potential for rapid growth, particularly in the short term. Purchasing this token is a bit of a gamble because it is still in presale and has yet to launch, but it’s the kind of gamble that could make you a millionaire, as we’ve seen with other meme coins such as Dogecoin, Shiba Inu, and Floki Inu.
Under the right conditions, new meme coins have a tendency to explode in ways that large-cap cryptocurrencies cannot. Thousands of top social media influencers are rumoured to have signed on to help create those explosive conditions for HUH Token.
HUH Token also has a built-in referral program in which holders can refer another person using a unique code, earning a 10% commission on that new person’s initial investment. Depending on the exchange used to purchase HUH Token, the commission will be paid in Binance Coin (BNB) or Ethereum (ETH). Additionally, holders of this code can earn BNB or ETH with each new referral indefinitely.
HUH Token will be available on PancakeSwap and Uniswap on December 6th, and its creators have announced that $1 million of liquidity will be locked in for two years from the token’s launch in an effort to make the token more stable and entice people to hold it long-term.
Story by Killy Belly