A new token is becoming quite popular on the low-cap game. Humanity Protocol, a crypto project that aims to bring privacy-first identity verification to Web3, is gaining serious traction just nine days after launch.
The project leverages palm biometrics and zero-knowledge proofs to verify usership in platforms without necessarily exposing their personal data. Humanity Protocol is gaining quite a lot of momentum as most see it as an actual useful utility project that could decrease the influence that bots have in this industry.
According to its website, its palm-scan system is designed to be less invasive while still offering strong Sybil resistance. It runs on a zkEVM Layer 2 chain, allowing users to prove credentials like education or employment without revealing sensitive details.
Humanity Protocol’s presale phase went rather smoothly. In just a few months, the project managed to captivate presale investors, gathering over $50 million in funding.
The token, $H, serves as the network’s utility asset and will be used for governance, staking, and verification services. Moreover, Humanity Protocol has a total supply of 10 billion tokens and a circulating supply of 1.825 billion.
Price Performance
Shortly after its ICO, Humanity Protocol had a rough start, dropping by over 60% in a short timeframe. While this may raise some red flags, the project picked up the pace after, ultimately showcasing an incredible performance over the last few days.
Now trading at $0.09973, $H is up 20 percent on the day and has surged 383% over the past week. As of today, the project has a market capitalization of $183 million on CoinMarketCap. That rally was fueled by a recent exchange listing, as investors joined in predicting more asset exposure.
With a clear use case, strong early momentum, and a growing community, Humanity Protocol is quickly becoming one of the most-watched low-cap tokens in the market.
Despite the hype and rapid price growth, Humanity Protocol currently holds a 70% profile score on CoinMarketCap. While that’s a decent start for a newly launched token, it also signals that the project still has work to do in terms of transparency and completeness.
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