The Human Protocol token is getting extra love from crypto traders, as is the Camila Cabello-backed meme coin, Ski Mask Dog.
human protocol (HMT) token jumped 175% in value at last check on Saturday as it continues to gain traction in the market while also addressing identity verification challenges and data privacy concerns.
See below.
The $1 billion valuation of the Humanity Protocol
The Humanity Protocol, a blockchain-based project, reached unicorn status in May, boasting a $1 billion valuation. This milestone came after securing $30 million in a semi-round led by Kingsway Capital.
Among its investors are Animoca Brands, Blockchain.com, Hashed and Shima Capital.
According to a Medium post from Humanity Protocol, the funds will help expand the team and develop products before the public launch of testnet in the second half of 2024.
The latest round of funding came just months after the Humanitarian Protocol received strategic investment to build the “human layer” for the web3.
Several VC funds and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu, have joined the effort.
Ski Dog Mask
Dog ski mask (SKI) also saw increased traffic on Saturday, November 30.
See the chart below.
Ski Dog Mask was built on Base, a Layer 2 blockchain from Coinbase. It has since gained attention for its community-driven approach, selling over $8 million in volume in 24 hours.
It is said abandoned by its developer, SKI has been revived by its enthusiastic community, leading to an impressive growth in value and popularity.
The coin has shown resilience during broader crypto market dips, indicating strong investor confidence.
Stars aligned
The project also benefited from the endorsement of notable figures, including Jesse Pollak, the creator of Base, who publicly praised SKI and bought it, as well as singer Camila Cabello.
The former member of “Fifth Harmony” briefly used the SKI logo as his Instagram profile picture, amplifying the coin’s visibility.
SKI also stands out with its grassroots marketing and community creativity, often manifesting as memes and social media campaigns that have fueled its popularity as well.
The market capitalization of the coin exceeded $30 million, with daily trading volumes reaching $2 million, which shows its growing traction. Example the rise of “social first” meme coins that prioritize community engagement over traditional development roadmaps.
