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There is a growing realization around the world that we need to start fighting against the global warming epidemic. Crypto comes under a lot of fire from outside environmental groups that are worried about the amount of energy it uses especially during the mining process. While they may be correct about this, they tend to ignore the projects that are doing their bit to help the environment.
One of these projects is eTukTuk (TUK), a sustainable transportation revolution that aims to tackle the emission crises in developing nations. We think this project could be one of the hottest selling tokens of 2024 but we are getting in right at the ground floor.
As of now, the project has just surpassed $500k raised and there is still a week before the next price increase. We suspect, however, once word spreads about what a game-changer eTukTuk could be, that the whales will start to get involved.
So, let us examine why eTukTuk will be 2024's eco-friendly crypto choice.
Helping developing nations combat climate change is the key to this coin's success
What we think will be the main factor behind the success of eTukTuk (TUK) is the fact that the project targets developing countries. There are two overlapping reasons for this. The first is, as we should know, the countries that are going to be hit harder by worsening global conditions are these developing nations. This is not through fault of their own but through economic circumstances.
One of eTukTuk’s commitments is to try to help bridge that economic gap. Of course, this also means that people in developing nations are likely to be much more eager to accept new sustainable innovations into their daily lives, as they understand how much they could be worth in the future not just to their pockets, but to their survival.
The second reason is that a lot of developing countries also have a developing crypto industry. A Statista study has forecasted that revenue in the Asian cryptocurrency market is projected to reach $8.2bn in 2024. Africa is also expected to see its cryptocurrency market experience massive growth.
This should be of no surprise to anyone as a decentralized market like crypto would serve those in developing countries much better than the centralized US dollar system that most countries currently trade under. The weakening of the US dollar and talks of pan-continent currencies also strengthen crypto’s position in these areas.
So what actually will eTukTuk do to help these countries become more sustainable
Any readers who live in, or have visited densely populated areas in developing countries will be familiar with the TukTuk vehicle. They might, however, be surprised to learn that there are over 270 (!) million of these vehicles, and individually they actually produce more emissions than a standard car does.
eTukTuk wants to bring in an electrical version of these vehicles that will enable a much more sustainable model for the drivers of these vehicles. As things currently stand, energy prices have risen by as much as 50% in some of these countries and it has made it nearly impossible for TukTuk drivers to earn a living wage.
The great news for these drivers is that eTukTuk drivers are expected to witness up to a 400% reduction in operating costs compared to using TukTuks powered by fossil fuels. This would completely transform their lives and crucially give them a massive incentive to make the switch over to these more sustainable models.
The project has lofty ambitions and hopes to contribute to CO2 emissions falling by a massive 30% by 2023. Something that we think makes it the best eco-friendly crypto choice is its tangibility. A lot of other green cryptos work in theory with very little practicality but as you can see from the tweet below The project already has a functioning eTukTuk ready to go.
Okay, it helps the environment but why should investors be excited?
So, the main reason for investors to be excited is very obvious, this could be a game changer to the transport industry in developing countries and investors are going to want to have this token in their crypto wallets.
The ecosystem is sustained by drivers purchasing their power at eTukTuk charging stations. As we mentioned above, even after this the drivers save much more money when compared to fueling normal TukTuks so we can be sure it will be a thriving ecosystem.
On-chain rewards will be distributed to TUK token stakers over a 15-year period and will be released in decreasing quantities from the Staking Rewards pool. As you can see from the chart below, tokens will be released very gradually until the final total of 2 billion is available. This slow release will also likely gather a lot of attention which will only help the price of TUK soar.
The last reason why investors should be purchasing TUK now is that the plans are already in motion, the project has partnered with the Sri Lankan government to establish over 200 charging station locations with more coming soon in different countries. They have significant help from industry experts who are listed as advisors on the eTukTuk page. All this points to a project that knows what it is doing.
So to finish up, we think that eTukTuk will be the eco-friendly crypto choice for smart investors in 2024. The project could transcend even the crypto market as a whole and help millions of people around the world combat global warming. If this isn’t a reason to invest, we don’t know what is.