Everyone is talking about the protocol in cryptography as the project is gaining momentum. Created as a meme currency, THE has continued to make all-time highs against the ETH and USDT pairs.
In just 24 hours, the protocol is trading at a profit of 60% against Ethereum when the major cryptocurrencies start to show a positive performance. Via social media, the protocol is following the price, with many users speculating that the “meme coin movement” could be revived.
The origins of the protocol, why is this coin collecting?
The crypto community created this project in response to Vitalik Buterin, the inventor of Ethereum. Buterin joked about his release to make “chiles” more effective.
Via Twitter, Vitalik Buterin posted the following message:
Someone has to make a project called ‘Protocol’, so his shill can say ‘Look, so mentioned too!’ Pretty much anytime anyone says anything.
– Vitalik.eth (@VitalikButerin) 14 October 2022
The tweet got hundreds of responses. The protocol was created yet, with indirect support by Buterin. Within a few days, the cryptocurrency was trending on Uniswap (UNI) and other decentralized exchanges based on Ethereum. Quickly, the protocol began to gain support from the crypto community.
Users still remember the year 2021 when Dogecoin (DOGE), Shiba Inu (SHIB) and other meme currencies took the top ten in the crypto space. At that time, early investors were able to turn a few hundred dollars into thousands.
Since then, Bitcoin and the crypto market have lost about 75% of their value. Now, the protocol is emerging with a promise to bring back some shine from the 2021 rally.
The owners were swimming against the tide, making profits while Bitcoin and Ethereum were sideways with no clear direction.
Vitalik Buterin blames
Via social media, crypto investors have been sharing their earnings with the protocol to spread the word about potential future gains.
$ Protocol only rent payment https://t.co/NGPGPBKPId
– strudel (StrudelEth) October 18 2022
Other notable crypto personalities have shared THE on their social media platforms. These investors are pushing to be included in the big trading platforms.
If they succeed, the protocol could face another SHIB-like or DOGE-like run. pseudonym argue Here’s about the potential for extending its bullish momentum:
Male Elon Fluky $ Who sent it to 3.5 billion dollars and Doge to 40 billion dollars> $ It is currently 20M high with Vitalik Buterin (Founder of Ethereum) transacting with it $ Tweets. This play is a no-brainer and could reach billions of millions.
I wouldn’t be surprised $ go on gray dollars run type. Faster than SHIB has ever done.
– JasonCryptoApe (JasonCryptoFTW) October 18 2022
Meanwhile, Vitalik Buterin acknowledged the recent popularity. On his Twitter account, the inventor of Ethereum shared photos about the token, say: “Well, what did you do?”
Over time, investors will see if THE becomes a competitor to DOGE or if a bear market forces it out of existence, driving its market value to zero. In cryptography, this is a daily occurrence.
Originally published at San Jose News Bulletin
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