The Human Protocol token is receiving significant attention from cryptocurrency traders, alongside the Camila Cabello-supported meme coin, Ski Mask Dog.
The Human Protocol (HMT) token surged by 175% in value as of the latest update on Saturday, continuing to gain momentum in the market while tackling identity verification and data privacy issues.
See the details below.
Humanity Protocol Achieves $1 Billion Valuation
Humanity Protocol, a blockchain-centered initiative, reached unicorn status in May, achieving a valuation of $1 billion. This achievement followed the successful acquisition of $30 million in a seed funding round spearheaded by Kingsway Capital.
Notable investors include Animoca Brands, Blockchain.com, Hashed, and Shima Capital.
As reported in a Medium post by Humanity Protocol, these funds are being utilized to expand their team and enhance product development in preparation for the public testnet launch scheduled for the latter half of 2024.
This most recent funding round occurred just months after Humanity Protocol secured strategic investments aimed at constructing the “human layer” for web3.
Various VC funds and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu, have joined this initiative.
Ski Mask Dog
Ski Mask Dog (SKI) also experienced a spike in interest on Saturday, Nov. 30.
Refer to the chart below.
Ski Mask Dog was developed on Base, a Layer 2 blockchain created by Coinbase. It has garnered interest for its community-focused approach, recording over $8 million in trading volume within a 24-hour period.
Reportedly abandoned by its original developer, SKI was revived through the enthusiasm of its community, resulting in a notable increase in both value and popularity.
The coin has demonstrated resilience during broader market downturns, reflecting strong investor confidence.
Star Power
This project has also enjoyed endorsements from prominent figures, including Jesse Pollak, the creator of Base, who praised SKI publicly and made a purchase. Singer Camila Cabello has also shown support.
The former member of “Fifth Harmony” briefly adopted the SKI logo as her Instagram profile picture, enhancing the coin’s visibility.
SKI further distinguishes itself through its grassroots marketing and community creativity, often showcased via memes and social media campaigns that have boosted its popularity.
The coin’s market capitalization has surpassed $30 million, with daily trading volumes reaching $2 million, illustrating its increasing momentum. It exemplifies the emergence of “social-first” meme coins, which emphasize community engagement over conventional development strategies.
