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This article was brought to you by Crypto PR and is not necessarily representative of the views of the Herald
The hunt for eco-friendly cryptocurrencies is on the rise. Intending to reduce their carbon footprint on the environment, many crypto investors and enthusiasts seek to line their digital wallets with green cryptos.
The cryptocurrency market has been on a bearish path since its all-time high of about $2.1 trillion in 2021. Despite its major market movers, Bitcoin and Ethereum, dipping in price by 50%, cryptocurrency users and investors can look forward to alternative crypto assets that could give them a boost before the coming year.
Our Top 5 Green Cryptos for 2023
This guide highlights the need to consider eco-friendly cryptocurrencies in the market. Also, it features five eco-friendly cryptos that might be ready for big pumps before the end of the year. Without further ado, let’s go!
The Need for Eco-friendly Cryptos
Bitcoin uses a consensus mechanism called Proof-of-Work (PoW). This mechanism requires using specialized computers and mining rigs to validate bitcoin transactions and mint new bitcoins. However, this mechanism consumes a vast amount of electrical energy, emitting massive amounts of gases and waste products.
The energy consumed by Bitcoin is on the increase. According to the Cambridge Bitcoin Electricity Consumption Index, the amount of electricity consumed by Bitcoin mining operations could boil enough water for all the beverage cups in the United Kingdom for at least 20 years.
Moreover, Bitcoin’s energy consumption also results in greenhouse gas emissions. Another research revealed that Bitcoin emits about 73 metric tons of Carbon dioxide (CO2) to the environment and contributes about 40 kilotons of electronic waste to the environment. In essence, Bitcoin’s carbon footprint is harmful to the environment.
To curb energy consumption, the Ethereum foundation took its entire cryptocurrency operations from Proof-of-Work to an energy-efficient Proof-of-Stake consensus mechanism. As a result, the Ethereum merge has led to a 99% decrease in CO2 emissions by Ethereum, leaving Bitcoin, Dogecoin, Litecoin, Bitcoin Cash, and others in the Proof of Work Consensus.
This environmental impact has made new and existing cryptocurrency projects devise alternatives to energy consumption by providing sustainable and energy-efficient utilities with zero carbon footprint.
Five Green Cryptocurrencies That Could Be Set to Pump Before 2023
Having considered the need for a greener and safer ecosystem, let’s take a look at these five eco-friendly projects, their utility, and how they are set for a massive uptrend in price before 2023.
- IMPT.io
The tagline of IMPT.io is “contribute to a better planet” and “become a part of the solution, not the pollution.” These catchy phrases provide crypto investors with an excellent opportunity to invest in the most sustainable crypto asset in the crypto market. It becomes especially evident when you consider its utility – carbon offsetting.
Cryptocurrencies are known for their large carbon footprints and high-power consumption when validating transactions and creating new transaction blocks. This issue stems from the use of the Proof-of-Work consensus mechanism. IMPT aims to change all the negativity surrounding cryptos and built its platform on the latest Ethereum Network, which has taken a stand in reducing its electrical energy usage by 99%.
Moreso, in line with its carbon-offsetting initiative, IMPT.io has partnered with over 10,000 brands and will connect them to individuals and businesses who want to be a part of this green project. IMPT has thousands of environmental projects that would positively impact the environment and lives.
Other utilities include IMPT NFT marketplace, where each IMPT token is converted to a carbon credit and minted into NFTs. Then, users and traders can list and trade their NFTs on this marketplace.
2. Tamadoge
Tamadoge is fast becoming a meme coin with a difference. With $19 million in capital raised during its ICO stages, Tamadoge features a play-to-earn ecosystem where users can breed NFT pets, groom, train, and take care of them so they can battle other NFT pets in a Metaverse game and earn crypto rewards.
Tamadoge is taking on the net zero carbon footprint by ensuring its users are not minting new TAMA tokens with special computers or mining rigs. Instead, they can purchase TAMA tokens from many Centralized and Decentralized exchanges where it’s listed.
TAMA token reached an all-time high of $0.19, giving early investors at least 10x of their investments. It is currently sold at a little more than $0.10 per token and presents opportunities for investors to buy more before it ascends to new highs. Tamadoge plans to list on more exchanges, and the launch of its ultra-rare NFTs is underway at the time of writing.
3. Shiba Inu
Another excellent meme coin that continues to draw the attention of crypto investors is Shiba Inu. Despite mixed receptions regarding the coin, it is not easy to deny that developers are working hard to improve the token’s utility.
Earlier this year, the Shiba Inu ecosystem made plans to burn $SHIB tokens. In the last few days, the burn rate increased in 24 hours. Consequently, a total of 268 million SHIB token has been burned. To further provide more use case to Shiba Inu, the developers has announced a Shiba Inu Game, which offers a play-to-earn model where users can purchase in-game items with $SHIB tokens.
By proving to be a unique meme coin, the Shiba Inu ecosystem features an NFT collection called Shiboshis, a decentralized exchange (ShibaSwap), and a governance token (BONE). In addition, the Shiba team is working behind the scenes to add more utilities for Shiba Inu users and crypto investors.
4. Solana
Solana is another excellent green crypto worthy of investment. It is an open-source project that provides Decentralized Finance (DeFi) solutions that are permissionless and secure. Moreso, its blockchain was designed to be scalable, low-cost, and easy to integrate into global systems and applications.
To further drive its token’s utility, it has partnered with Epic games to provide a space-themed strategy game called Star Atlas. This game is built on the Solana blockchain and has released its demo version, which caught the attention of over 190 million users. This game feature provided by Solana will enable it to capture more audience and exponentially pump its price as in-game assets will be purchased using $SOL tokens.
5. Binance Coin
Launched and owned by one of the biggest crypto exchanges in the world, Binance, the Binance coin could be a worthy crypto investment for years to come. Millions of Binance users and investors use Binance coins to facilitate trades on the Binance exchange platform.
Binance Coin ($BNB) drives the Binance Smart Chain network, in which new cryptocurrency projects can scale quickly without expensive transaction fees. The network is also speedy, reliable, and secure. Binance coin could be a worthy investment that will continue to release compelling use cases and utilities in line with blockchain technology.
Final Thoughts
Ethereum’s recent transition to the Proof-of-Stake consensus mechanism generated interest in crypto investors to engage in cryptocurrencies that offer zero carbon emissions. These five green cryptos highlighted in this guide have different use cases that enable them to thrive and provide big pumps to their community of users and their crypto investors.
IMPT.io is running its first presale stage, with about 50 million $IMPT tokens sold at $0.018. Crypto investors can purchase via its official homepage. Also, Tamadoge recently completed its record presale, and it is currently listed on the OKX exchange, BitMart, and Uniswap. Other exchanges will be announced later in October.
Shiba Inu, Solana, and Binance coin are available in the crypto market, and users can fill up their bags before these projects release new features that would give them considerable boosts in price.
Crypto investments are considered risky investments because of the volatility in the market. If you choose to invest, ensure that only a small portion of your investment portfolio is crypto-based.
This article was brought to you by Crypto PR and is not necessarily representative of the views of the Herald
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