Solana and Polkadot Plummet But Excitement as EverGrow to Launch World-First Crypto Social Media

Solana and Polkadot Plummet But Excitement as EverGrow to Launch World-First Crypto Social Media

EverGrow has announced the launch of the first-ever crypto social media in 2022

The global cryptocurrency market cap fell below the $2 trillion thresholds on February 10th. It's since struggled to get back over the line, with nearly all top 20 cryptos down over the last seven days. The two major cryptos seeing the most losses are Solana and Polkadot – both down 10% over the past week to February 17th this 2022. 

Both Solana and Polkadot have native tokens that support networks and technology for developers. Solana facilitates decentralised app creation (DApps) while Polkadot provides a foundation for Web3. While these are all exciting innovations they cater for a highly-skilled public – a small percentage of cryptocurrency traders.

In contrast in this article, we'll look at new crypto projects developing technological innovations that directly serve the general public – projects like EverGrow, building the first crypto-integrated content creation and subscription platform, Crator. 

EverGrow (EGC)

EverGrow, only launched in September 2021 but broke records to gain over 20,000 investors within its first week of operation. The core of the EverGrow message is making crypto accessible and bridging the gap between crypto and traditional investing by proving fundamental value. EverGrow incorporates a unique rewards system – in under five months of operations EverGrow has paid out more than $34 million in BUSD rewards, fulfilling its initial promise of passive income.

But EverGrow hasn't stopped at crypto passive income generation. According to its website EverGrow's team will in Q1 of 2022 launch the world's first crypto and fiat-integrated content creation and subscription social media platform, Crator. This kind of development will directly challenge popular apps like OnlyFans or Patreon, rather than applications strictly for developers.

EverGrow price is currently at $0.0000005744 and the project has a modest market cap under $300 million. At such a low price many analysts and investors are banking on EverGrow to make 2022 its year to shine.

Polkadot (DOT)

Polkadot was launched by Web3 Foundation – a Swiss outfit with a mission to build an open-source, functional, and user-friendly decentralised web. This is what's called the Web3. Among its founders include Dr. Gavin Wood, an Ethereum co-founder and developer credited with actually coining the term 'Web3'. Polkadot provides a platform for developers to build specialised blockchains. DOT is its native token.

Polkadot launched towards the end of 2020 and immediately saw price rallies over 14,000%. DOT hit an all-time high price of $53.5 in November last year but has stagnated around $20 since January 2022. An exciting project that captivated serious crypto enthusiasts – should Web3 hype take off again in 2022 Polkadot could be set to make serious gains again.

Solana (SOL)

Solana is another developer-oriented project that facilitates the development of decentralised apps (DApps). It was launched by Anatoly Yakovenko, a previous software engineer at Dropbox. Solana launched in 2017 with SOL tokens released to the public in 2020. Solana is an open-source project at heart that banks on blockchain technology's potential to provide decentralised finance (DeFi9 solutions. 

Among Solana's key components is the underlying proof-of-stake (PoS) consensus. Solana has attracted many institutional traders but also small-time traders who have jumped on the back of SOL's rise to 8th largest crypto, according to CoinMarketCap.

Solana is currently trading at just over $100 though its price has stagnated at this level since January as well. SOL hit its all-time high of $250 back in November and is waiting for its moment in 2022.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

Related Stories

No stories found.
logo
Analytics Insight
www.analyticsinsight.net