A slew of crackdowns has had an explosive impact on the crypto industry. The SEC has accused some top crypto exchanges of running illegal operations in the US. As the court cases heat up, some altcoins, at the top being DigiToads (TOADS) continue to register positive results. While the bullish sentiments hold, massive net outflows will probably cap gains as the court cases go on.
Despite these cases, DigiToads (TOADS) is exploding. Investors and experts continue to choose it. Here is the reason why.
DigiToads Remains a Promising Destination for Experts and Investors
DigiToad’s meteoric rise in the past few weeks has something to do with its dual appeal as a meme coin and a utility product. The combination makes it a strong sell for people who want something long-lasting.
Meme coins have often cemented their stay in the crypto space by relying on the continued excitement of their root memes, and the fear of missing out. Such frameworks remain relevant as long as the root meme remains popular. DigiToads will exist for a long time, as it will be central to the growth of web3 via P2E and NFT staking.
The swamp is the arena that powers P2E in the ecosystem created by DigiToads. It relies on TOADS to run. TOAD NFTs form the cornerstone of P2E gaming, as they exist as unique characters. The characters are tradeable, and players can rev them up via the in-game purchase feature.
Those dominating the leaderboards have access to prizes that come from the prize pools. Gamers receive up to 50% of the money generated by in-game purchases, which boosts their total stake in the DigiToads project. Up to 10% goes to passive TOAD holders as passive income. While the rest goes back to the project to help fund interactive activities that are key to bringing in more investors.
DigiToads’ historic run is impressive. The project has so far earned about $5.7 million, which is a rare feat for a coin in the market for a couple of weeks. A single TOAD goes for about $0.047–up from $0.01. The monumental rise is a testament to the potential of the project going forward.
Its official launch will push the coin up by about 450% from the official launch price. The presale, broken down into various stages, has been a booster for the price increment. Each new stage strengthened the coin by a few points.
The rarely mentioned figure of the project is the token burn element. Token burn works automatically when the supply exceeds demand. By lowering the supply levels, existing TOAD holders gain massively. The feature is built in and works on the contemporary economic model of the value of commodity scarcity.
As things stand, the project is in stage nine, a few stages shy from the official launch. The stage offers a final opportunity for buying TOADS at heavily discounted rates. It also offers an opportunity for investors to access the prize pool that has been running since stage one.
Algorand’s Bullish Sentiments
Despite the aggressive onslaught by the SEC about the listing of altcoins in top crypto exchanges. Algorand’s ALGO remains bullish. The same sentiments have been felt across many crypto projects, defying the largest-ever crypto setback since their popularity in the US.
However, the impact of the SEC action has started to insert fear in many crypto investors. Exchanges like Coinbase Global and Binance have noted significant net outflows in the past few weeks, some adding up to billions, stemming from increased liquidation of crypto assets. The action will impact the bullish sentiments registered by AlGO.
Closing Remarks
Despite SEC’s aggressive approach towards some top crypto exchanges, Algorand has remained steady. Its performance traces what DigiToads has been doing for the past few weeks. DigiToads continues to invite interest from experts and investors. However, Algorand’s positive results might be impacted by the significant liquidation of crypto assets from the targeted exchanges.
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