Bitcoin was created to give average citizens a currency that their governments didn’t have control over. Fiat currency has been horribly manipulated over the years by every country on planet Earth.
Because of the origin of crypto, decentralized finance (DeFi) sits at the heart of what blockchains are all about. However, other use cases have emerged over the years including GameFi and meme coins.
Of those, meme coins have probably experienced the most surprising evolution in crypto. They generally don’t offer much in the way of utility and exist for no reason other than to exist. Some meme coins even rank with the best of the cryptocurrency tokens on the market.
Let’s take a look at modern meme coins vs the utility of DeFi.
Meme coins
The tone of cryptocurrency is all about independence from government overreach. Several blockchain projects have tapped into this independent spirit and built communities that have endured for years. All of this despite having no real utility behind them.
Shiba Inu (SHIB) is one of these projects. It is based on a popular dog meme from several years ago and reached critical mass during the bull market of 2021. Along the way, it turned several early adopters into millionaires without having any “product” to offer its community.
Now it is the fifteenth biggest cryptocurrency based on market cap.
Another popular meme coin is Pepe (PEPE), which is based on the Pepe the Frog meme. It launched in April 2023 and was an instant hit. In one month, PEPE broke into the Top 50 of cryptocurrencies with nothing but social media hype behind it.
DeFi
Decentralized financial services are the reason for the existence of cryptocurrencies and blockchain technology. Bitcoin came out of the global economic downturn and took hold because of the unnecessarily slow recovery.
Citizens around the world saw how politicians mismanaged their money and wanted a Plan B. Until recently, the DeFi sector has been replicating the services offered by centralized banks, giving crypto investors the opportunity to borrow and lend on decentralized exchanges (DEXs).
Now, HedgeUp (HDUP) is taking DeFi in a new direction. Instead of offering traditional banking services, HedgeUp (HDUP) will expose crypto enthusiasts to alternative assets. Through HedgeUp’s (HDUP) NFT marketplace, retail investors will be able to speculate on luxury items that they were priced out of before.
The team behind HedgeUp (HDUP) will work with third parties to acquire alternative assets like diamonds, high-end watches, and art. NFTs representing those assets will be sold on HedgeUp’s (HDUP) marketplace. So, by holding an NFT, an investor will own a piece of the asset behind it.
The final analysis
While crypto is popular enough now for meme coins to make a big splash and build up a community, DeFi will always be able to offer utility. That utility is what will bring investors back over and over again.
Perhaps that is why HedgeUp (HDUP) has advanced through its presale so quickly. Stage one began in April and the HDUP token sold for $0.009. Now, the project has raised over $3 million and HDUP has gone up to $0.036.
So, investors who want to see big gains in 2023 are heading for HedgeUp (HDUP).
For more information about HedgeUp (HDUP) presale use the links down below:
