The Telegraph
The Human Protocol token is receiving significant attention from cryptocurrency traders, alongside the Camila Cabello-backed meme coin, Ski Mask Dog.
The Human Protocol (HMT) token surged by 175% in value as of last Saturday, continuing to gain traction in the marketplace while tackling identity verification issues and concerns surrounding data privacy.
Check out the details below.
Humanity Protocol Achieves $1 Billion Valuation
In May, Humanity Protocol, a project based on blockchain technology, reached unicorn status with a valuation of $1 billion. This achievement followed a successful seed round where they raised $30 million, led by Kingsway Capital.
Notable investors include Animoca Brands, Blockchain.com, Hashed, and Shima Capital.
As stated in a Medium post by Humanity Protocol, the raised funds will be used to expand the team and enhance product development in anticipation of a public testnet launch in the latter half of 2024.
The recent funding round occurred just months after Humanity Protocol secured a strategic investment aimed at creating the “human layer” for web3.
Numerous VC firms and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu, joined in this initiative.
Ski Mask Dog
Ski Mask Dog (SKI) also experienced a surge in activity on Saturday, November 30.
Refer to the chart below.
Ski Mask Dog was developed on Base, a Layer 2 blockchain created by Coinbase. It has garnered attention for its community-oriented approach, recording over $8 million in trading volume within 24 hours.
Reportedly abandoned by its initial developer, SKI was revitalized by its passionate community, resulting in a significant boost in value and popularity.
The coin has demonstrated resilience amid broader cryptocurrency market fluctuations, reflecting strong confidence from investors.
The Stars Align
The project has also gained traction thanks to endorsements from notable figures, including Base’s creator Jesse Pollak, who has publicly praised SKI and added it to his portfolio, along with singer Camila Cabello.
The former member of “Fifth Harmony” briefly featured the SKI logo as her profile picture on Instagram, increasing the coin’s visibility.
SKI also sets itself apart through grassroots marketing and community-driven creativity, often utilizing memes and social media campaigns that have further raised its profile.
The coin’s market capitalization has surpassed $30 million, with daily trading volumes reaching $2 million, highlighting its growing traction. It exemplifies the emergence of “social-first” meme coins that focus on community involvement rather than conventional development roadmaps.
