Are Utility Coins the Smart Investment in 2022?

17 December 2021

in XRP

Reading Time: 4 mins read

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The world of cryptocurrency can be confusing. Bitcoin (BTC) has been around for over 10 years, whilst Ethereum (ETH) was minted in 2015. Despite this, crypto really hit the mainstream of public consciousness in 2021. Some sources of information can be hard to decipher. Whether it is established giants like ETH or promising newcomers like HUH Token (HUH), some may feel excluded from the investment opportunities that cryptocurrencies offer. With 2021 being a record year and 2022 on the horizon, choosing the right investment in the crypto sphere could be crucial.

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Cryptocurrencies are generally split into categories, depending on what they offer. Two of these categories are Utility and Meme:

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Utility: Utility coins are partly explained by their name. They look to offer a real-world utility to and for their owners and are often coins built on blockchain ecosystems that offer their holders rights or services. Ethereum’s ERC-20 is probably the most well-known blockchain within the industry, and Binancecoin (BNB), Ripple (XRP), as well as Bitcoin (BTC) itself could be considered utility tokens.
Meme: Meme coins showcase the more lighthearted side of cryptocurrency, but have been criticised as irresponsible by some. They have seen a huge growth in 2021, both in terms of media attention and financial valuation. Dogecoin (DOGE) and Shiba Inu (SHIB) have led the way in meme coins, but there are countless examples of meme coins. Initially meant to be a satirical riposte to Bitcoin, Dogecoin now has a market cap of over $23 billion.

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There is a new category of cryptocurrency on the market, as of December 2021. Thanks to the pioneering HUH Token (HUH), “utimeme” coins are now a thing. HUH, as the world’s first “utimeme” coin, aims to offer a genuine utility to its holders whilst using the powerful engagement potential of a meme coin. To quote their website, huh.social, HUH promises “crypto thrills with community feels.”

XRP and HUH – Aims for the Future

Ethereum (ETH) has firmly established itself as a top 2 cryptocurrency in 2021 and has increased 173% since the beginning of the year. Its market cap is $480 billion, second only to Bitcoin (BTC). Ethereum 2.0 is scheduled for a June 2022 release and holders will hope that it gets ETH closer to BTC.

Ripple’s (XRP) future is both more ambitious and more complicated. Ripple’s proponents view XRP can go hand in hand with existing financial institutions and form the basis for the world’s push to a digital currency. Some also argue it could, in theory, replace the USD as the world’s reserve currency, as it can be held in large quantities and provide liquidity for international transactions.

XRP is the eighth-highest ranked cryptocurrency in terms of market cap, which stands at $39 billion. Currently, however, XRP is tied up in legal battles with the Securities and Exchange Commission (SEC). Some analysts say this is reflected in what could be seen as a low price of $0.83.

HUH Token (HUH) was launched on the 6th of December, a mere 10 days ago. Since its launch, it has increased by over 3000%. This huge rise in valuation in such a short period, as well as its current price of 0.0001799, suggest that it has a long way to go.

The roadmap on HUH Token’s website is both ambitious and encouraging. It launched on PancakeSwap, and will also be available on BitForex on Monday the 20th of December. It has also already been listed on CoinMarketCap and CoinGecko. Some of the future steps include launching an app and an NFT marketplace.

What could see HUH stand out from other cryptocurrencies in 2022 is the unique system in which incremental increases are offered for those holding HUH long term. In addition to this, their referral system encourages sharing through communities. This innovative system allows existing holders to be given 10% of anyone they refer’s first investment in HUH Token, paid in BNB.