As a crypto enthusiast, you must know that the metrics for judging cryptocurrency’s success differ. Irrespective, a new cryptocurrency like HachiFi (HACH) must meet certain criteria like high adoption potential, popularity, the potential for a price increase, and so on, before it can be considered successful. These strong indicators determine whether it becomes a good buy in the long run.
HachiFi (HACHI) has been making waves among cryptocurrency enthusiasts on the Reddit crypto forum, Twitter community and blogs. However, while the optimism around the new cryptocurrency is high, experts believe the greatest crypto lesson is to know that nothing is guaranteed and act accordingly. Thus, this article reviews HachiFi’s (HACH) success probability in comparison to existing altcoins like Cardano (ADA) and Fantom (FTM).
By popular metrics, Cardano (ADA) remains one of the most successful cryptocurrencies in the coin market. The top crypto asset has over $19 billion in market capitalisation, ranking it among the top six on Coinmarketcap. In addition, Cardano is included in over 2.2 million watchlists, proving its popularity and adoption potential. The cryptocurrency boasts an all-time high (ATH) of $3.10 but currently sells below $1. Experts have tipped Cardano to have a successful run in the coming days, which may see it rally towards its ATH or beyond.
Cardano owes part of its success to every technology development’s compulsory peer-reviewed feature. It helped the project anticipate pitfalls. As a result, the developers have continuously implemented improvement features, including the Alonzo hard fork launch that saw the coin rally to its ATH. The feature allows users to build DApps on the blockchain by creating and deploying their smart contracts on the network.
Inarguably, ADA remains one of the most successful crypto projects in the coin market, and HACH could replicate this success by leveraging its unique utilities.
Fantom (FTM) is one of the top 100 cryptocurrencies on Coinmarketcap based on market capitalisation. The cryptocurrency has earned a reputation in the market due to its low price and great utility, and over 680K+ individuals have it on their watchlists. However, the low-priced cryptocurrency sells below $0.5 have a massive price decline from its all-time high of $3.48 during the bear market.
Experts believe the cryptocurrency can make a recovery run in the coming months, which could see it hit a billion-dollar market capitalisation. Fantom token (FTM) powers the smart contract platform that provides developers with DeFi services. Fantom prides itself on reduced transaction time (less than two seconds) and proffers solutions to issues associated with smart contracts.
Fantom was created as an alternative to Ethereum (ETH) to provide smart contracts utility for DApps and digital assets. It boasts enhanced scalability, security and decentralisation. The networks aimed to achieve these goals by leveraging a novel consensus mechanism that ensures better functionality, security and speed. These features make it an excellent alternative to Ethereum and contribute to market success.
Cardano (ADA) and Fantom (FTM) credit their market success and prominence to the developers’ effort to ensure continuous growth through integrating novel features. HachiFi (HACH) can achieve this, too, with the dedication of the developers and community members. The cryptocurrency aims to enhance cryptocurrency and DeFi adoption across the globe by providing numerous opportunities for users to leverage multiple utilities and use cases.
HachiFi (HACH) also has the potential to achieve popularity as it will enter the market as the leading NFT farming/breeding platform. HachiFi boasts 2000 unique non-fungible tokens (NFTs) representing various Farm Bred animals like cows, sheep, dogs, cats, etc. These NFTs are unique, interoperable, indivisible, and transparent. One of HachiFi token utilities include NFTs breeding which involves staking your token to get NFT as a reward.
HACH’s other utilities will include swap fees for platforms DEX, liquidity provision for stablecoins, inventory management, governance, etc. Therefore, HachiFi has a high probability of success based on experts’ views, and entering the project early can be beneficial in the long run.