HyperDAO has seen phenomenal growth as the year came to an end. The cryptocurrency was operating at a price level of $0.021 during the beginning of November; however, as the bulls strengthened for the cryptocurrency market the cryptocurrency reached towards a new all-time high of $0.19 on December 1st. HDAO token has, so far, continued its bullish momentum and is expected to reach even higher. At the time of writing, the cryptocurrency stands at a price level of $0.14. The price has increased by nearly 15% during the past twenty-four hours while the weekly performance shows a decline of 14% as the cryptocurrency has been highly volatile with brutal ups and downs ever since the new ATH has been established.
What is HyperDAO?
HyperDAO is a decentralized crowdfunding and IDO platform that is built on top of Ethereum, Polygon, and Binance Smart Chain – allowing it to have access to the great chunk of the cryptocurrency market as it is compatible with the top three development chains. The project was launched in order to help new entrants in the crypto market tackle high competition from already well-established projects. It achieves its goal by helping crypto projects to launch their tokens through the provision of initial liquidity. HyperDAO is an experienced blockchain incubator and has access to a wide customer base which ensures good liquidity on the platform.
Future outlook
The project has been gaining in popularity due to its recent performance. HyperDAO has grown more than 800% since November and the project regards this as only the beginning. The team is aiming on harnessing the decentralized consensus mechanism of the network to create stronger links between organizations. The DAO governance is also regarded as the underlying foundation for the new era of Web 3.0.
Moreover, the network is also holding a Winter Carnival which is causing rounds in the crypto market. So far, the team has announced a giveaway of $8,000 HDAO tokens. The first 1000 lucky winners will share a pool prize of $6,000 and another 3,000 winners will be selected to share a pool of $2,000. For participation, users only have to share their links and earn rewards in the process.
HyperDAO’s recent performance is a testament to which cryptocurrency can be achieved. It has risen amidst the ranks and currently stands at a market rank of #243 with a growing capitalization. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $0.17 in a year’s time while the five-year projection places it at $0.34.
