Ethereum, Chainlink and HUH Token

Cryptocurrencies like Ethereum, Chainlink, and HUH Token stand out as top opportunities

In the financial world, institutional investors represent large sums of money. With approximately $100 trillion in assets under management, their purchases and sales can have a significant impact on asset prices. And, more recently, those powerful financial institutions have developed an interest in cryptocurrency. According to a Fidelity study, 52% of institutional investors already own digital assets and 71% intend to do so in the future.

Decentralized finance (DeFi) is also gaining popularity. By enabling individuals to borrow, lend, and earn interest without the assistance of banks, DeFi products reduce the cost, efficiency, and accessibility of financial services. Unsurprisingly, this value proposition has resulted in rapid adoption, with DeFi investments increasing by more than 1,200% to $253 billion over the last year.

With these trends in mind, it makes sense to allocate a portion of your portfolio to cryptocurrency. And while there are thousands of crypto assets and dozens of them appear to be worthwhile investments, Ethereum, Chainlink, and HUH Token stand out as top opportunities.

Ethereum: a decentralised application ecosystem

Ethereum (ETH) was launched in 2015 as the world’s first programmable blockchain. This means that developers can use the platform to write code and create self-executing computer programmes known as smart contracts. Since then, this technology has evolved into decentralised applications (dApps), which are pieces of software that run on peer-to-peer networks rather than on centralised corporate servers.

Notably, dApps can take on any form imaginable, including social media platforms, productivity tools, file storage, and DeFi products. And in every case, Ethereum is a clear leader. There are over 2,900 decentralised applications (dApps) running on Ethereum and $155 billion invested in DeFi products on the blockchain. To put this in context, those figures represent 75% of all dApps and 63% of all DeFi investments.

Naturally, dApps and DeFi-based products are not free. Users pay transaction fees in Ether or ETH, the native cryptocurrency. As more consumers adopt products built on the Ethereum blockchain, demand for the ETH token should increase, resulting in a rise in its price. Simultaneously, Ethereum is the second most popular digital asset held by institutional investors -second only to Bitcoin. This should boost demand as more institutional money enters the crypto market.

 

Chainlink: a blockchain and real-world systems bridge

Chainlink is a protocol that connects blockchains to real-world systems.

Smart contracts are programmes that run only when certain conditions are met. Once deployed, the code is irreversible. Additionally, smart contracts are an efficient and trustworthy method of enforcing agreements, as they are tamper-proof and do not require centralised oversight.

There is, however, an issue. Due to the fact that blockchains are incapable of interacting with external systems or the physical world, the utility of a smart contract is severely limited. Consider a DeFi protocol that enables consumers to buy and sell physical assets such as automobiles or houses. To operate properly, the smart contract would require knowledge of the asset’s value at the time of the proposed sale. How could you possibly get that data onto the blockchain without relying on a single source and jeopardising the network’s decentralised nature? Chainlink is the solution.

Chainlink is a decentralised oracle network fueled by the LINK cryptocurrency. Oracles are sensors, such as application programming interfaces (APIs), that enable the blockchain to incorporate real-world data. To participate, Oracle node operators — the individuals responsible for the software and hardware — must stake LINK tokens, a safeguard that ensures their integrity, as their stake can be taken if they attempt to commit fraud.

How it works is as follows: When a smart contract requests data from Chainlink, the network solicits bids from node operators and selects several oracles to retrieve the data. The Chainlink protocol then aggregates and reconciles that data to produce an accurate result, preserving the smart contract’s decentralised nature. Finally, the LINK token is used to compensate the oracle node operators for their services. In a nutshell, Chainlink increases the utility of smart contracts by enabling the addition of real-world data to any blockchain.

On that note, as the DeFi industry expands, more smart contracts will almost certainly require access to real-world data. As a result, demand for oracles will increase (and the tokens that power their networks). And Chainlink is by far the most popular oracle network, with over 1,000 blockchain projects integrated. Additionally, the LINK token is the fourth-most popular digital asset among crypto hedge funds, and as more institutions diversify into cryptocurrencies, demand for the token should increase, boosting its price.

 

HUH Token: a monetisation of influence and content creation

We live in a world of rapid and constant consumption of content and information, due to the global and revolutionary nature of the internet. Cryptocurrencies are now an extension of that global internet revolution and HUH Token aims on providing the key to tokenising and therefore monetising that information.

Content producers and influencers may find it difficult to monetise their intellectual property, likeness, and image – but the blockchain and HUH Token can provide the solution. HUH Token has linked itself with thousands of top social media influencers, artists, and content producers to create an ecosystem where these individuals can be rewarded for their intellectual property.

After launching on December 6 2021, HUH Token surged over 6000% in what is only the very beginning of their ambitious plans to use NFTs and a unique platform called the Met-HUH-verse to create and enhance value for content producers.  NFTs use the same blockchain software as cryptocurrencies, but they represent intellectual-property ownership instead of financial assets. These personalised creator tokens are one-of-a-kind assets where ownership grants the creator increased access, enabling both artists and fans to transact massive amounts of value quickly and securely. It’s a new revenue stream for creators. This could be an opportunity for fans to connect with artists and influencers on a more personal level.

HUH Token has already launched on PancakeSwap but will also launch on Uniswap on January 6, which should have a positive impact on price. HUH already has over 15,000 holders and with more listings in the pipeline, HUH Token’s continued growth will increase demand and therefore positively affect the price.

HUH Token’s creators have announced that hundreds of influencers will begin posting about the token on Instagram and Twitter from the 19th of January, which should also have a positive effect on price.

This still relatively unknown cryptocurrency is providing the perfect chance for holders to get in before what could be a dramatic rise in value.

 

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/