Analyst Backs HedgeUp, Will It Overtake Polygon and Stacks to Become the 30th Biggest Crypto?
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A crypto analyst has backed HedgeUp (HDUP) to be one of the best-performing projects of 2023. This has led many investors to wonder whether it will be able to overtake Polygon (MATIC) and Stacks (STX) to become the 30th biggest cryptocurrency.
HedgeUp to Perform Well
An analyst has predicted that HedgeUp (HDUP) will perform exceptionally well in the coming months. The project is widely considered to be one of the most innovative projects currently being developed.
Why Is That?
HedgeUp (HDUP) is building the world’s first Web3 alternative investment trading platform. The platform gives people the ability to invest in alternative assets, like precious jewelry, luxury watches, rare artwork, exquisite drinks, and more.
What sets HedgeUp (HDUP) apart is the fact that the assets have been tokenized into NFTs. So, instead of going through the hassle of buying and selling these assets physically, traders deal with asset-backed NFTs.
This allows them to invest fractionally in the NFTs. You don’t have to pay $10,000 to buy a luxury watch or piece of art. You can buy a $200 NFT that represents a slice of the asset in question. That way, you own and can trade that slice. You also don’t have to worry about storage costs.
HedgeUp (HDUP) also uses smart contracts to eliminate intermediaries. Their absence means lower trading fees and faster settlements.
HedgeUp (HDUP) is expected to transform the alternative assets market by lowering the barrier of entry. People from all walks of life, all over the world will be able to invest in alternative assets and use them as a store of value.
As a result, investors and experts alike are backing the project to be one of the breakout stars of the coming year or two.
Will HDUP Overtake MATIC and STX?
Polygon (MATIC) and Stacks (STX) are other innovative projects in the crypto space. This means that their respective cryptocurrencies are performing quite well also.
Polygon is a layer 2 scaling solution for Ethereum. It aims to provide faster and cheaper transactions than are currently possible on Ethereum. MATIC, the network’s cryptocurrency, sits at 9th with a market cap of $9.5 billion. It’s currently trading at $1.04 per token.
On the other hand, Stacks (STX) is a project leveraging the Bitcoin blockchain to build a decentralized internet. It aims to provide a secure and decentralized platform for building decentralized applications (dApps) on Bitcoin. STX, the project’s crypto asset, currently sits at 46th with a market cap of $1.078 billion. It’s currently trading at $0.7841.
So, how will HDUP perform relative to these assets?
Some analysts predict that HDUP will 100x in the next market bull run. The token is currently selling for $0.013 in a presale. Using this as our reference price, one HDUP will be worth $1.03, putting it above STX and MATIC in terms of trading price.
But HedgeUp (HDUP) will likely launch at two or three times the current price. It will also have a total supply of 620,000,000 tokens. If the estimates are right and it does 100x, it will definitely surpass STX in terms of market cap and may become a top 30 cryptocurrency.
The ongoing presale is an opportunity to buy HDUP at a low price. Interested investors are encouraged to act quickly.
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