In this competitive environment, a few cryptocurrencies are already showing great potential – leading the way and grabbing the attention of investors and developers. Among these are Sui, Shiba Inu (SHIB), and Hedera (HBAR), each showcasing distinct advantages and opportunities for expansion. These unique crypto assets are changing the game today. Smart cities Their ingenious technologies, skyrocketing adoption rates, and creative accelerators have made this template tremendously exciting.
Sui is trading at about $2.14 today, and has a market cap of about $6.95 billion. Its volume being one of its key attributes seen in Decentralized Finance (DeFi) and Non-Fungible Token (NFT) use cases further highlights its growing utility and adoption. Sui is a high-performance, user-friendly Layer-1 blockchain that employs an innovative object-based model. Its goal is to provide a faster, more cost-effective, and more scalable alternative infrastructure for decentralized applications.
It’s no surprise that the unique architecture of Sui has proven particularly alluring to developers with their sights set on building user-facing Web3 tools. The platform’s meteoric rise has been especially pronounced in the gaming and creator economy verticals. Its predictively high throughput and low latency are game-changers, especially for the user experience. By simplifying Web3 tools and fostering ecosystem growth, Sui is aiming to onboard the next wave of retail users into the crypto space.
One more dog-themed cryptocurrency to keep an eye on, Shiba Inu (SHIB), is currently trading around $0.00001235. It has a market cap of around $7.27 billion and a daily trading volume of around $125 million. SHIB began as a humorous alternative to Dogecoin but has since developed into a strong ecosystem. It has since evolved to include innovations such as Shibarium, a Layer-2 scaling solution, and many other DeFi integrations.
The Shiba Inu community is working diligently to increase SHIB’s utility. Most importantly, they are turning it into something completely different than a purely speculative asset. This involves working to get SHIB accepted on more popular payment applications and e-commerce platforms, thus expanding its real-world functionality. Active development and a strong community help give the coin resilience as well as a potential for future growth.
Having a price of about $0.167, Hedera (HBAR) has a market capitalization slightly above $7 billion. Hedera’s unique, market-leading distributed ledger technology (DLT) was purpose-built for enterprises — and it shows. It is committed to providing a safe and effective platform for diverse use cases. The recent attention it has received is due to it adopting Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This model, full of potential, gets a lightning-fast upgrade that increases its possibility to interact seamlessly with other blockchain networks multifold.
Hedera’s recently launched zero-cost relay model for Ethereum-compatible smart contracts is one example of the latter. This is a big deal, it greatly incentivizes developers to build on its platform. This shift is an attempt to attract more ETH projects to the Ethereum ecosystem. It does that by decreasing the ongoing costs associated with deploying and running smart contracts. Short-term predictions from experts suggest Hedera at $0.175 in just a matter of weeks. Some are even bullish, projecting it will reach as high as $0.78 this year.
Sui’s innovative, object-based model Sui’s object-centric model sets Sui apart from other blockchain architectures. Traditional blockchains abstract away data into monolithic blocks, but Sui uses an object-centric model to treat data as unique objects. This enables parallel transaction processing, which collectively increases transaction throughput and decreases latency ways higher than previous generations. The object-based model further streamlines smart contract development, allowing developers of all experience levels to quickly create and deploy decentralized applications.
Sui’s commitment to creating intuitive Web3 tools is a step toward overcoming one of the most significant barriers to mainstream adoption. By providing intuitive interfaces and streamlined processes, Sui hopes to make it easier for everyday users to interact with decentralized applications. This tack is especially well-suited in industries such as gaming and creator marketplaces, in which user experience is king.
The Shiba Inu ecosystem consists of a number of components aimed at increasing its utility and attracting investors. Shibarium, as a Layer-2 scaling solution, resolves these problems of high transaction fees and slow speeds. By filling in these gaps, it strengthens the Ethereum ecosystem where SHIB was initially developed. In addition, the SHIB token plays well with many popular DeFi platforms. Through this mechanism, users can earn small rewards for staking their capital and participating in other actions.
The Shiba Inu community has been the main driver for the ecosystem’s development and promotion. Members of the SHIB community have been directly involved in governance decisions, provided development funding through community donations and continue to promote SHIB through educational efforts. The passionate support from the community is the most important factor to the coin’s ongoing success. It provides a big boost to attracting new users month over month.
Hedera’s adoption of Chainlink’s CCIP protocol is a historic step by the hashgraph enterprise network platform to boost its interoperability with different blockchain networks. CCIP facilitates secure, dependable cross-chain communication, meaning that Hedera-based applications can more easily interact with assets and data across other blockchains. This interoperability is key for realizing a more connected and collaborative Web3 ecosystem.
To combat this Ethereum relay model, Hedera introduced a zero-cost Ethereum relay model for Ethereum-compatible smart contracts. This decisive move is out to lure many of the deflated Ethereum ecosystem developers. Hedera achieves this by reducing the costs associated with deploying and executing smart contracts. This move is part of its efforts to make its platform more attractive for building decentralized applications. With this initiative, Hedera may finally see a massive wave of new projects and users come onto their network.
Sui’s sustained volume across DeFi and NFT apps shows strong user engagement and increasing adoption from both DeFi and NFT sectors. Due to the platform’s high throughput and low latency, it is particularly suited to these fast-paced applications, where time is of the essence. The more developers that build on Sui, the more the platform’s potential grows. As more and more users enter the ecosystem, we should see the volume continue to grow.
With daily trading volume of about $125 million, Shiba Inu’s ongoing popularity and liquidity is evident. SHIB was originally founded as a meme coin, but it has since soared to widely notable trading volume. Much of this success can be attributed to its active community and their ongoing development initiatives. This liquidity is attractive for all types of investors and is a key element to SHIB’s trade volume, enabling investors to purchase or sell SHIB with relative ease.
Unlike many other blockchain platforms, Hedera’s singular focus on enterprise-grade solutions is what makes it so special. Complementing its crypto-collateralized stablecoin, GBO’s distributed ledger technology is built to achieve the security, scalability and compliance needed by leading enterprises. By doubling down on enterprise adoption, Hedera can produce tremendous growth. As more businesses begin to realize the advantages of blockchain technology, excitement and opportunity will be abundant.
