Rallying 100% against the trend, the controversial $H has once again surged strongly today, with a rise of nearly 800% since its bottom!
On the positive news front, Humanity Protocol announced a partnership with Nasdaq-listed health technology company Prenetics, which will incorporate $H into its crypto asset treasury. However, many point out that such news is insufficient to support such a fierce rally.
The core issue is that the Humanity team controls nearly 98% of the token shares, and $H is highly likely to be under tight control.
Selected market perspectives:
📌 @heroman0x
"Despite being filled with FUD and selling pressure, $H has continued to pull up in recent days. This is unusual in the current market environment."
"Although the airdrop distribution was disappointing, the story may not be over yet."
Source: https://x.com/heroman0x/status/1940083509151854793
📌 @Oluwa_
"$H's current market cap is $690 million. The TGE execution was indeed poor, but this technology has significant real-world implications. Both statements can be valid."
Source: https://x.com/heroman0x/status/1940083509151854793
📌 @Koreanteacher1
"Will #HumanityProtocol become the next Worldcoin? If you believe that ZK-based identity verification will be a fundamental pillar in the AGI era, now might be the opportunity to enter early."
Source: https://x.com/Koreanteacher1/status/1940238153597821368
Commentary:
The current trend seems to be a typical "market manipulation rally":
"The more bears there are, the more aggressive the pull-up, until the bulls take over, and then the market makers sell at high prices. Consolidation, redistribution, and continued pulling up form a manipulation cycle. If the bears are exhausted, it becomes a signal that the market makers are eager to exit."
There are many short-term opportunities, but be sure to be wary of the risk of a sharp decline after a sharp rise. Staying on the sidelines might be a more prudent choice.
