3 Cryptocurrencies That Could Outpace Bitcoin in 2022 – Ethereum, Solana and HUH Token
Bitcoin (BTC) set new records over the last year, reaching an all-time high of nearly $70,000 in November. However, as the digital assets market continues to grow, newer competitors are challenging the primordial cryptocurrency’s dominance. While Bitcoin is currently the most popular cryptocurrency, Ethereum, Solana and HUH Token are primed to potentially overtake it by 2022.
Ethereum (ETH)
Ethereum, the second most popular cryptocurrency, is Bitcoin’s chief rival. While the two cryptocurrencies are fundamentally dissimilar, there are a few areas where Ethereum outperforms Bitcoin.
To begin, Ethereum’s network is widely used for decentralised applications (dApps) such as smart contracts, which enable two parties to conduct legal transactions without the assistance of a third party such as a lawyer. Additionally, Ethereum is home to a number of projects focused on decentralised finance (DeFi) and non-fungible tokens (NFTs).
Ethereum is migrating from a proof-of-work (PoW) to a proof-of-stake (PoS) protocol. PoW requires powerful computers to solve complex puzzles in order to verify transactions. However, in a PoS system, validators verify transactions by risking a portion of their cryptocurrency holdings in exchange for the opportunity to earn rewards.
Bitcoin is still based on the proof-of-work protocol, which makes it an extremely slow and energy-intensive cryptocurrency. When Ethereum fully converts to a PoS system, it will consume approximately 99.95% less energy and will also be significantly faster – allowing it to scale and potentially surpass Bitcoin.
Solana (SOL)
Solana is a relatively new cryptocurrency, having been launched in 2017. However, it has already established itself as a force in the crypto world, with its price surging by more than 11,000% over the last year.
The primary advantage of Solana is its speed. At the moment, Bitcoin can process approximately seven transactions per second. On the other hand, Solana is said to be capable of processing up to 65,000 transactions per second. As with Ethereum, Solana can host decentralised applications (dApps), and it currently hosts projects ranging from DeFi to NFT marketplaces and more. Due to its rapid growth, developers have flocked to Solana, making it one of the cryptocurrencies with the fastest growth rates.
Having said that, Solana is a riskier investment than Bitcoin. It makes use of the proof of history protocol, which is uncommon among cryptocurrencies. According to a recent report by institutional investment firm Grayscale, this could potentially increase its vulnerability to attacks. Indeed, Solana has been subjected to multiple attacks over the last few months, including a 17-hour outage in September.
This is not to say that Solana is a bad investment; on the contrary, it has tremendous growth potential. However, it carries a higher risk, so bear this in mind before you purchase.
HUH Token (HUH)
Probably the most risky out of all the cryptocurrencies on this list as HUH Token is still very new, having just launched on PancakeSwap on December 6 2021. However, as most investors will testify, with great risk can come great reward. HUH Token surged over 6000% following its launch, but the widespread crash of the crypto market since the beginning of December, has since quelled some of its momentum. Despite this, HUH Token has a remarkable YTD return of over 1000%.
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 tokenisation 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 monetising 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:
Website: https://huh.social
HUH Official Swap: https://swap.huh.social/
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/