Over the weekend, Solana hit another record high, increasing the year-to-date gain to almost 17,500 per cent. Meanwhile, the new “uitimeme” HUH Token is generating significant interest among investors as it prepares to launch on December 6th.
High Solana rising
Solana has eclipsed Cardano and Tether in market capitalization to become the fourth-largest cryptocurrency. According to CoinMarketCap, Solana’s total token value was just over $76 billion at the time of writing, trailing only Binance Coin’s $109 billion, Ether’s $540 billion, and Bitcoin’s $1.17 trillion.
Solana’s price surpassed $262 for the first time in history over the weekend, owing mostly to a crypto-wide price boom that saw other leading cryptocurrencies post comparable gains.
Another factor contributing to the surge was the news of Solana’s venture capital arm’s involvement into Web 3.0 gaming development. The firm stated last week that it would invest $100 million in the gaming studio and technology sector alongside FTX and Lightspeed Venture Partners.
Thus, the company hopes to persuade developers of desktop and mobile video games to construct their creations on its public blockchain.
Investors may also view Solana as a serious competitor to Ethereum, which is now experiencing network congestion, resulting in slower transactions and increased transaction costs, dubbed “gas” fees.
Solana claims to be capable of processing 50,000–60,000 transactions per second (TPS) for an average transaction fee of $0.00025, whereas Ethereum is limited to 15–30 TPS at a median transaction cost of between $4 and $21.
Bitcoin explodes
The majority of cryptocurrencies gained ground this month, with the largest of them all, Bitcoin, surging again.
It was valued at roughly $65,800 on Monday morning, up from little under $63,000 overnight.
Ethereum, the world’s second largest cryptocurrency also gained traction, hitting a new all-time high of $4,765.
One of the numerous causes for the recent crypto surge is the establishment of the first U.S. exchange-traded fund (ETF) last month, which allows for increased investor participation. Additionally, the ETF is a hint that cryptos are becoming more mainstream and widely recognized.
HUH Nation
On December 6th, an exciting new “Utimeme” cryptocurrency named HUH Token will launch. The interesting aspect of this cryptocurrency, which is now in the pre-sale stage, is its potentially game-changing referral network. Their smart contract features a referral scheme that is decentralized and and recorded on the blockchain. It operates by assigning a unique code to investors who purchase HUH tokens for the first time. This code may be sent to each new investor. When this new investor makes a purchase of HUH Tokens using this referral code, the person who provided the code earns 10% of the purchase in BNB. Additionally, this purchase is made at a lower tax rate.
The HUH Token will be accessible on both PancakeSwap and Uniswap, two major cryptocurrency exchanges.
The designers of HUH Token claim that pre-launch sales were so strong that they temporarily crashed the company’s payment infrastructure; the company has since collaborated with NOWPayments to ensure future transactions execute smoothly.
According to reports, HUH Token has a following of thousands of admirers who are all impatiently awaiting the token’s release on the open market. HUH Token is now undergoing several audits to ensure superior service delivery.
The creators state that community care is a significant aspect of their mission and that they always ensure that people of their HUH Nation benefit and receive excellent service.
Story by Jerk Mark
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