Contents
Humanity Protocol's $1 billion valuation
Ski Mask Dog
The stars align
Alongside the Human Protocol token, crypto investors are also showing extra interest in the Camila Cabello-backed meme coin Ski Mask Dog.
The Human Protocol (HMT) token is up 175% in value at last check as it continues to gain momentum in the market while addressing authentication challenges and data privacy concerns.
See below.
Source: CoinGecko
Humanity Protocol's $1 billion valuation
Blockchain-based project Humanity Protocol reached unicorn status in May with a valuation of $1 billion. The milestone came after it raised $30 million in a seed round led by Kingsway Capital.
Its investors include Animoca Brands, Blockchain.com, Hashed, and Shima Capital.
The funds helped expand the team and develop products ahead of a public testnet launch in the second half of 2024, Humanity Protocol wrote on Medium.
The latest funding round comes just a few months after Humanity Protocol received strategic investment to build the “human layer” for web3.
Multiple venture capital funds and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu, have joined the effort.
You might also like: Crypto VC funding: World Liberty Financial raises $30 million, Partior raises $20 million
Ski Mask Dog
Ski Masked Dog (SKI) has also seen increased traffic.
See the table below.
Source: CoinGecko
Ski Dog Mask is built on Base, a Layer 2 blockchain from Coinbase. It has since garnered attention for its community-focused approach, reaching over $8 million in volume in 24 hours.
Reportedly abandoned by its developer, SKI has been revived by its enthusiastic community, resulting in an impressive increase in value and popularity.
The cryptocurrency has shown resilience during the general declines in the crypto market, indicating that investor confidence remains strong.
The stars align
The project has also benefited from the support of notable figures such as Jesse Pollak, creator of Base, who has publicly praised and purchased SKI, and singer Camila Cabello.
The former “Fifth Harmony” member briefly used the SKI logo as his Instagram profile picture, increasing the coin’s visibility.
SKI also stands out for its grassroots marketing and community creativity, which manifests itself in the form of memes and social media campaigns that further increase its popularity.
The coin’s market cap has surpassed $30 million and its daily trading volume has reached $2 million, demonstrating its growing momentum. It exemplifies the rise of “social-first” meme coins that prioritize community engagement over traditional development roadmaps.