In recent months, Shiba Inu (SHIB) has entered several strategic partnerships that are aimed at expanding its utility. This is part of the token's attempts to evolve beyond being a meme coin.
And speaking of utility, with its presale showing encouraging signs, the DeFi project, HedgeUp (HDUP), is gearing up for widespread adoption when it finally launches on the Ethereum blockchain.
Shiba Inu (SHIB) is one of the breakout stars of the crypto bull run of 2021. This boom propelled SHIB to all-time highs that saw it gain more than one million percent in less than a year.
However, since the bear market came knocking, Shiba Inu (SHIB) has been one of the worst-hit high-profile cryptocurrencies. It is currently trading at more than 90% below its ATH. In comparison, Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB) are trading at around 60% below their ATH prices.
Shiba Inu's (SHIB) dismal performance can be attributed to the fact that it is a meme coin. Meme coins typically have no utility. Therefore, their values are largely based on investor speculation.
To remedy this situation, Shiba Inu (SHIB) has been getting into strategic partnerships since last year. One of the most notable developments is Shibarium and the token's partnership with NOWPayments.
Shibarium is a Layer 2 blockchain solution developed to serve Shiba Inu (SHIB). The Layer 2 protocol partnered with NOWpayments, a Netherlands-based crypto payment gateway. It has a large network of merchants and businesses and the move could see some of these establishments begin to accept Shiba Inu payments.
The goal is to inject an acceptable level of utility into the SHIB ecosystem. To this end, SHIB has also partnered with Binance Pay, BitPay, and Switchere.
After months of development, the HedgeUp (HDUP) project is closer to launch than ever. The HedgeUp team has been hard at work building the world's first trading platform that provides investors with opportunities to invest in alternative assets within the crypto ecosystem.
HedgeUp's (HDUP) NFT marketplace will be backed by alternative assets. These NFTs act as on-chain representations of alternative investment instruments like gold, diamonds, paintings, watches, and more. They will also allow investors to own fractions of an asset if they can't afford to buy the whole thing.
The project launched the presale of its native token, HDUP, in April. This presale is being used as an instrument to raise money for the continued development of HedgeUp's (HDUP) marketplace.
HedgeUp (HDUP) has rapidly progressed through three stages. It is currently in the fourth stage, having raised $2.9 million out of a target of $4.17 million. It has also sold 178.4 million tokens. Only 5 million tokens remain before the presale moves on to the next stage of its presale.
Following last month's trend, the HedgeUp (HDUP) team expects this and the following stages of the presale to go quickly. This means that the official launch of the alternative assets NFT marketplace is right around the corner.
Website: https://hedgeup.io/
Presale: https://app.hedgeup.io/sign-up
Telegram: https://t.me/HedgeUpChat
Twitter: https://twitter.com/HedgeUpOfficial
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