Crypto markets continue to trade sideways this week, meaning Metaverse cryptocurrencies have the opportunity to experience various price movements. A cryptocurrency today also made a move to support this narrative, posting over 1500 gains in the last 24 hours after being recently listed on CoinMarketCap. We, as KoinFinans, took a close look at this cryptocurrency and took a look at what kind of cryptocurrency HydraMeta (HDM) is.
Fully Diluted Market Cap of $9.4 million HydraMeta (HDM)It is trading at $0.0009437, up an incredible 1500% in the last 24 hours. It is also worth noting that HDM continues to increase every second the news is written. However, it is important to remember that such new cryptocurrencies are volatile and the gains can all be wiped out in an instant.
What is HydraMeta?
Quite recently, on March 13, 2022, HydraMeta, listed on CoinMarketCap, describes itself as a platform for the aggregation and service of NFTs in Metaverse blockchain games. The project, whose aim is to provide generations of wealth to its loyal owners, was originally launched at PinkSale and is overseen by the team KYC.
The HydraMeta platform allows its users to trade in different blockchain markets and reduce transaction fees without transferring to other cryptocurrency wallets. The token that serves as the native service asset of the platform. HDMis .
Honest HydraMeta Review
Every day, new projects are launched in the cryptocurrency market, and they all promise big returns to their investors. However, skipping projects without getting to know them is never a wise choice. We also took a closer look at the platform, its whitepaper and token, and tried to give you an honest opinion of HydraMeta.
When you look at the whitepaper of the project, for example, “project team Hydraswpa There are quite a few typos, such as the statement “created its platform”. It is thought that the author of the whitepaper meant Hydraswap here.
Apart from these, the platform promises a few features like a trading platform, an NFT platform, and a cross-game community hub. However, within the project, a dApp or a Minimum Viable Product (MVP) does not exist.
One of the positive aspects of HydraMeta is its extremely well designed NFTs. However, it is not yet clear whether an NFT market will be launched in the future.
Another positive aspect of HydraMeta is the amount of liquidity available on the platform. However, it should be noted that while the team claims that liquidity is locked, only tokens are locked for liquidity, not WBNB.
If you look at HydraMeta’s pre-sale that has ended, you can see that no BNB has been collected, i.e. only the platform’s native tokens are locked for liquidity, not WBNB itself.
Also, the token address specified for the pre-sale does not match the token address on CoinMarketCap…
In general, we urge investors to exercise caution if they wish to invest in projects with such red flags. This project will look much better if the team manages to release a dApp or any Minimum Viable Product, but until then it’s just a gamble where the developers are the real winners.
*Minimum Viable Product (MVP), It is a development technique in which a new product is introduced to the market with essential features sufficient to attract the attention of consumers. The final product is only released after sufficient feedback has been received from the first users of the product.
This technique helps them make the final product much better. With the help of the MVP concept, the research or marketing team will find out where the product is missing or what its strengths or weaknesses are.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.