While crypto prices have certainly recovered in the last three or four months, the current market conditions are far from being good. Crypto prices are still low compared to where they were a year and a half ago. Furthermore, consistent price drops are still a thing.
This is best demonstrated by cryptocurrencies like Shiba Inu (SHIB) and Cardano (ADA). The two assets have been struggling over the past few weeks.
However, it is not all bad for all projects. For HedgeUp (HDUP), the prevailing market conditions have proved perfect for the launch of its presale. They have made it such an attractive project for investors that it is quickly becoming one of the most successful presales of recent times.
The HedgeUp (HDUP) presale went live at the start of this quarter. On-chain analysis and data released by the project show that it was an instant hit. The first stage sold out within days while the second stage took a couple of weeks. It is currently in the third stage and will go on for five more stages before being closed at the end of stage eight.
HedgeUp (HDUP) has already sold close to 130 million tokens. This has helped it raise $1.83 million. The funding target for the current stage is $3.34 million. To reach this goal, the presale is expected to sell around 31.23 million tokens at $0.020 per HDUP token. The presale will then move on to the fourth stage and sell the token for $0.036.
But why are the funds being raised?
The project is building a marketplace that will serve as an investment platform for alternative assets. Here, investors from all over the world will be able to buy and sell NFTs backed by assets like gold, rare artwork, valuable watches, diamonds, and more.
Current market conditions haven’t been so favorable for other projects. Shiba Inu (SHIB) and Cardano (ADA) are two of the most notable examples.
Shiba Inu (SHIB) is one of the most popular cryptocurrencies. It has a market cap of over $5 billion, putting it in the top 20 crypto assets. This is despite SHIB being a meme coin.
Shiba Inu (SHIB) exploded in popularity in 2021. During that bull market, the token’s growth rate was somewhere in the hundreds of thousands. However, coming into the next bull market, SHIB hasn’t been looking so good.
Shiba Inu (SHIB) is currently trading at $0.000008888. This is more or less the same price it was trading at a week ago and close to 15% less than its value a month ago. In comparison, ether (ETH) has gained 1.1% in the last seven days and lost less than 1% in the past month.
Conditions have been a little better for Cardano (ADA). Cardano is a blockchain protocol whose native cryptocurrency is ADA. The cryptocurrency, which sits at #7 when ranked by market cap, is trading at $0.37 after losing 3.9% in the last thirty days.
This is perhaps why both Shiba Inu (SHIB) and Cardano (ADA) whales have been buying the HedgeUp (HDUP) presale.
Find out more about the HedgeUp (HDUP) presale here:
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