The cryptocurrency sector continues to develop and change with such rapidity it can be hard to keep up. The constant stream of launches is exploring and expanding what blockchain can do. At the same time, older cryptos are disappearing due to a lack of interest or collapsing due to mismanagement. Others are simply no longer fit for purpose.
Ethereum Classic losing its appeal
A great example of the latter is Ethereum Classic (ETC), which is fast becoming obsolete. The crypto was created in 2016 from a fork in the Ethereum (ETH) blockchain. Both are pretty similar in their function, but there are increasing differences.
The most crucial of these is that Ethereum classic is incompatible with post-2016 changes to the Ethereum blockchain. ETC still uses a proof-of-work mechanism and needs miners.
In contrast, Ethereum has undergone several upgrades, the most significant of which was the Merge in September 2022. This was when it changed to proof-of-stake, dramatically increasing efficiency and scalability.
Ethereum classic initially benefitted from the Merge as miners were forced to move from ETH to ETC. But the price has languished ever since. In addition, ETC still faces many of the problems ETH has been working hard to avoid – such as massive energy consumption and lack of scalability. Unfortunately, these issues are not going away, and with increased energy prices and global warming, the problems may prove insurmountable.
New crypto HedgeUp is getting all the attention
HedgeUp is a new crypto whose star is rising as ETC’s falls. HedgeUp is the first cryptocurrency for people wanting to access the alternative investment sector.
Alternative investment products consistently outperform the markets and help investors diversify portfolios, decrease volatility, and make significant profits. For example, in 2022, luxury watches prices rose 149%, fine art 29% and liquor 19%. Other profitable items include gold, diamonds, aviation, and wine. The total amount of alternative investments under management is predicted to be over $17 trillion by 2025.
HedgeUp essentially makes investing in this lucrative sector easier. It bridges the gap between traditional and crypto investing by, for example, partnering with a card processing company and making it easy to switch from cryptocurrency to fiat.
The way it works is HedgeUp’s experts and analysts negotiate deals with third-party vendors and select top alternative assets. These assets are then stored in a licensed and insured vault and are represented by a HedgeUp NFT. These NFTs can represent a single asset class or a hand-picked basket collection and can be bought on the platform.
To make investing in HedgeUp NFTs even more accessible, people can own a percentage. This means that by fractionalising asset-backed NFTs, investors can gain exposure to alternative markets for as little as $1.
HDUP holders also have access to online masterclasses and the online HedgeUp community. In addition, they can join the platform’s DAO and receive staking rewards.
The cryptocurrency sector is changing, and those who want to survive and succeed need to adapt, innovate, and change. This is why Ethereum is doing better than Ethereum Classic. It is also why innovative new cryptos like HedgeUp can spot a market need and develop the tools and community required to thrive. As ETC falls, HDUP will continue to rise.
For more information on HedgeUP click the links below:
Presale Sign Up: https://app.hedgeup.io/sign-up
Official Website: https://hedgeup.io
Community Links: https://linktr.ee/hedgeupofficial
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
