Closing out the first quarter of 2023 with an impressive $1.2 trillion market cap, the cryptocurrency market has set the pace for what analysts are calling an eventful year for the DeFi industry. As we approach the second quarter, established cryptocurrencies such as Cardano and Binance Coin remain top favorites, but several other new altcoins are emerging as promising projects. Take the example of DigiToads (TOADS). Built on Ethereum, the meme coin is a powerhouse of versatile features that can cater to different user groups regardless of their experience with cryptocurrencies.
DigiToads: One Platform, Multiple Ways to Earn Passive Income
The popularity of DigiToads latest ico has skyrocketed due to its unique economic model that makes earning with cryptocurrencies stress free. Be it wagering NFTs, trading tokens, claiming crypto rewards in Web 3.0 games and even winning daily prize draws – from now on you can do it all on one platform. DigiToads has also rolled out a native token called TOADS which is powered by the ERC-20 token and is the medium of exchange on the network.
If you are interested in purchasing the TOAD token, there is no better time than now as the token presale process is in its penultimate stage. With eight of its 10 phases completed, the cryptocurrency ico has so far sold out more than 94% of the tokens allocated for presale.
The thing about the TOADS Token that draws everyone is its versatility. Not only can you use the token for various transactional purposes on the network, such as staking and trading, but you can also use it to make your voice heard in the DigiToads community. DigiToads’ governance structure is based on the Decentralized Autonomous Organizations (DAO) model, where each token holder is assigned exclusive voting rights. With these voting rights, token holders can vote on a proposal from a fellow community member.
The TOADS token is also a deflationary currency, meaning it protects your returns from market volatility. A deflationary model dictates that token supply is continuously adjusted to ensure it does not exceed demand. This is done by destroying or burning additional tokens in circulation through regular ‘token burn’ events scheduled by the DigiToads team.
As part of its future plans, the DigiToads team has decided to donate 2.5% of its annual profits to organizations involved in rainforest conservation and tree replanting.
What are analysts saying about Cardano?
Cardano is a blockchain platform powered by the Ouroboros protocol and enables developers to build scalable and easy-to-use dApps with its suite of tools. These tools provide improved efficiency for a decentralized service or app because they are based on an evidence-based methodology and peer-reviewed research. The ADA native token is used for various transaction purposes on the network. Moreover, Cardano is a sustainable blockchain as it uses the proof-of-stake consensus algorithm. Despite being a promising crypto project, the Cardano token price has witnessed negative price action in recent weeks, leading analysts to maintain a largely bearish sentiment towards the ADA token.
Binance appears to be boosting business in the UAE
Binance is a leading cryptocurrency exchange and the native token Binance Coin remains one of the best cryptocurrencies to invest in 2023. BNB is the primary cryptocurrency on the network. When a BNB token holder trades on Binance using the network’s token coin, they are eligible for a fee reduction. In a recent development, Binance Dubai general manager Alex Chehade said that Binance Coin would focus on its UAE business in the wake of the regulatory action facing the crypto exchange in the US. Chehade said the UAE had a “friendly attitude” towards digital assets and was an excellent location for crypto companies.
Cardano, DigiToads, and Binance Coin are among the best altcoins for 2023 due to their utility-focused models and next-generation code architecture. While Cardano and Binance Coin have their fair share of strength, they lag DigiToads as it has higher growth potential – an observation that even analysts agree on. Experts who have reviewed the TOADS token believe that its versatile model can help its holders achieve their long-term investment goals with ease. They also believe that the token could potentially increase by 40x in the coming months.