While the current FUD surrounding crypto is about the SEC suing crypto exchanges to sell securities, history often repeats itself, and the latest bull market saw crypto prices plummet as Tesla ditched BTC payments due to environmental concerns.
Therefore, cryptos that take sustainable climate action could do well the next time the sustainability narrative comes around. We have already seen the top altcoin, Ethereum, make efforts to become more environmentally friendly.
After years of planning and development, Ethereum became the first blockchain to change its consensus mechanism. This essentially means that the rules that valid Ethereum transactions must follow have changed.
The network upgrade was known as “The Merge” because it merged two blockchains into one. Following the upgrade, Ethereum’s consensus mechanism changed from proof-of-work to proof-of-stake.
The difference between the two consensus mechanisms is that proof-of-work relies on computational energy to secure a blockchain network, while monetary value secures proof-of-stake networks.
Needless to say, this makes the Ethereum blockchain significantly more environmentally friendly, aligning it with the environmental, social, and governance (ESG) goals of institutional buyers.
Going forward, this could significantly improve the price of ETH. However, there are many other ways blockchain can contribute to climate action.
Ecoterra
Ecoterra is perhaps the most talked about green cryptocurrency right now. This is a trending pre-sale crypto approaching the $5 million total, showing high investor confidence in the project.
The project is based on four main pillars, the main one being “Recycle2Earn”. The others are a used goods market, a carbon offset market and an impact monitoring profile for businesses.
Recycle2Earn is a new concept developed by Ecoterra. This will involve placing “reverse vending machines” (RVMs) in stores and supermarkets around the world. Users can then recycle their goods in RVMs. to win $ECOTERRA.
Ecoterra has already entered into partnerships with household brands such as Dr. Pepper, San Pellegrino and Heineken. The partnerships will allow Ecoterra users to recycle products from these brands in their RVMs.
The other three pillars of Ecoterra are all at the service of companies involved in the circular economy. Ecoterra leverages the benefits of blockchain, such as transparency and immutability, so the public can follow companies’ climate actions, ensuring they are doing what they claim to be doing.
Investors can currently buy Ecoterra tokens for $0.00925 – a discount from the listing price of $0.01.
Chimpzee
Another green crypto coming up right now is Chimpzee. While Ecoterra is focused on bringing new use cases to crypto, Chimpzee is revolutionizing existing blockchain use cases by making them more environmentally friendly.
Several traders have touted Chimpzee as one of the best green cryptos to buy. YouTuber Jacob Bury is bullish on the chimpanzee, pointing out in a recent video that the project has huge potential to attract new investors.
One of the reasons Chimpzee is proving so popular is that it incorporates trending use cases while protecting the environment. The project will include a Shop2Earn, Trade2Earn and Play2Earn mechanism, as well as custom AI chimpanzee avatar NFTs.
Chimpzee has already taken initiatives to fight against climate action. For example, after surpassing the $500,000 presale mark, the project pledged to plant 20,000 trees with the charity One Tree Planted. Additionally, 10% of the total supply of the token has been allocated to charity wallets.
Currently, in its Phase 1 presale, CHMPZ is available for purchase at $0.000625. However, the pre-sale round is expected to end in eight days, after which the price will drop to $0.00064. The IEO price is set at $0.00185, which represents a 196% gain for investors buying now.
Mookie
Mooky is quickly gaining notoriety as the best eco-friendly coin. With the recent explosion of Pepe and other smaller meme coins, traders have high hopes that the Mooky token could be next to perform well.
.
It is currently in pre-sale, having raised over $750,000 and already noticed by several top analysts. YouTuber Borch Cryptowhich has 78,000 subscribers, recently highlighted the coin, touting that it could be the next 100X pre-sale gem.
According to the Mooky “Greenpaper”, Mooky is a DeFi token that aims to protect the environment. The token will allow users to vote on how the project helps save the environment. Therefore, Mooky could become an attractive investment for conservationists and ecologists in the crypto field.
The project will include 1,000 “value-backed” NFTs that will allow holders access to the “Ventures Club” and governance of the project. As with Chimpzee, Mooky will have a charity wallet, although Mooky’s allocation will be 5%.
So far, the project has proven extremely popular among its community, having already raised over 12,000 Twitter subscribers and 3K Telegram members.
Currently, the presale is in stage 8 of 12, priced at $0.00000735, with the price rising to $0.00003125 in the final round. The Stage 12 price represents a 325% increase from its current valuation.
Ethereum
As mentioned, Ethereum has already taken considerable steps to align with ESG objectives. Bitcoin showing no signs of transitioning to proof-of-stake could make Ethereum a more attractive investment for environmentally conscious institutional investors.
According to figures from Pre-sustainabilitythe transition from Proof-of-Work to Proof-of-Stake has caused Ethereum’s energy consumption to drop by 99.98%.
Also, a study by the CCRI (Crypto Carbon Ratings Institute) was highlighted by the Ethereum Foundation and shows the difference in power consumption between Ethereum and Bitcoin.
The study revealed that Bitcoin uses 131 TWh/year in energy, while Ethereum PoS uses 0.0026 TWh/year. It also means that Ethereum uses less energy than Netflix, AirBnB and PayPal, all of which are considered ESG-friendly companies.
Both Ethereum and Bitcoin have market caps in the billions, so institutional investors have a much bigger impact on price than retail.
Additionally, as Ethereum is the leading smart contract blockchain, with the Highest TVL and most dApps, buying Ethereum allows investors to take advantage of a range of enduring crypto protocols. This is called the “Pick-and-Shovel” method, which many investors use for risk management and diversification.
We can also see from the chart below that Ethereum has been on a steady upward trend against Bitcoin since 2019. Given its environmental advantages over Bitcoin, the trend is likely to continue, with Ethereum potentially overtaking Bitcoin by market capitalization one day.
Algorand
Algorand is another cryptocurrency blockchain targeted towards sustainability. According to the Algorand website, the blockchain is carbon negative, which is not something that can be said for Ethereum.
The website also states that an Algorand transaction “uses approximately 0.0000004 kg of CO2, in contrast, a Bitcoin transaction emits 338 tons of CO2”.
Algorand also focuses on the social and governance ethics of the ESG framework, aimed at making the world’s 1.7 billion unbanked people bankable and improving social equality.
Another thing to note about Algorand is that its blockchain architecture leverages relay and stake nodes to remain highly scalable, decentralized, and secure without sacrificing sustainability.
ALGO price is in a long-term downtrend. However, it has recently approached a macro key level. If it starts bouncing from here, it will form a double bottom pattern and potentially see a strong upward move.
Disclaimer: The above article is sponsored content, and it is written by a third party, and is intended for promotional purposes only. It does not represent the opinions or views of CryptoPotato, and nothing it contains should be construed as financial advice. Readers are strongly advised to verify the information independently and thoroughly. Investing in cryptocurrencies involves risk of capital loss, and readers are also advised to seek professional advice before making any decision which may or may not be based on the sponsored content above.
Readers are also advised to read CryptoPotato’s full disclaimer.
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off Binance Futures fees for the first month (terms).
PrimeXBT Special Offer: Use this link to sign up and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.
