There’s a lot that has been happening in the cryptocurrency market which has kept both crypto users and analysts busy. For starters, ZCash adoption rate has hit a pause leading to a tepid market performance. At the same time, Monero has been making rapid strides with its rallying price. Another cryptocurrency that has attracted analysts’ attention is DigiToads (TOADS). The hybrid DeFi platform has taken the global crypto community by surprise with its presale success. Just months into its launch, the meme coin’s presale funding is fast nearing the $6-million mark.
DigiToads: Gaining with the potential of hybrid DeFi
DigiToads is among the top crypto coins which were launched in 2023 and have been growing in popularity since. Its key USP is its hybrid DeFi model where three crypto tokens have been combined to offer users a nuanced utility. Be it staking NFTs, trading crypto assets, winning cryptocurrencies in Web 3.0 games, or participating in trading contests, there is a lot to explore on this Ethereum-based platform.
This is the right place to start exploring DigiToads is by acquiring its native token – the TOADS token – which is the medium of exchange on the network.
The TOADS token is currently available for purchase through a presale. Eight of these 10 stages are complete and the team has already sold out 95% of the tokens it has allocated for the presale cycles – that’s 355,942,880 coins. If you are interested, you can purchase the token at a price of 0.047 USD. As there is no lock-in period involved, buyers will be able to acquire their tokens as soon as the transaction is processed.
If in the future, you decide to sell the TOADS token, you will have to pay 7% tax. The tokens collected as tax would be used for maintaining the NFT staking pool, liquidity pool, and treasury. The team would also set aside 2% of the tax proceeds for token burn events as the TOADS token is a deflationary cryptocurrency.
Under a deflationary cryptocurrency, the token supply is always regulated to prevent it from exceeding the demand. By intentionally keeping the supply scarce, the team can minimize price fluctuations which keep the token value stable. Hence, the DigiToads team schedules a regular ‘token burn’ event to destroy any extra TOADS tokens in circulation.
What are analysts saying about Monero’s prospects?
Described as one of the best crypto investments of 2023, Monero is a privacy-centric cryptocurrency. Its native token is XMR and it’s used for any transactional purpose that its holders might come across on the network. The secret behind Monero’s unparalleled security is a range of cutting-edge technologies like multi-signature authentication, Ring Confidential Transactions, and stealth addresses. Over the past few months, Monero has been posting positive price action which makes analysts hopeful that the XMR token would be maintaining its bullish momentum for the time being.
Can ZCash maintain its bull run?
What makes ZCash a good crypto to buy is the way it prioritizes the security and privacy of its users. It’s an easily available and accessible digital asset for everyday transactions, sending crypto tokens to friends or even to a dApp. A key advantage of transacting with the ZEC tokens is that your payments will be encrypted. So, details like the transaction history, amount, wallet balance, or memo field would be untraceable. The cryptocurrency has a native token called ZEC which is the primary cryptocurrency of the network. Given the current market trends and the positive price action that ZCash has seen, analysts feel that the ZEC token has the potential to maintain its growth momentum over the next few months once the consolidation phase concludes.
Conclusion
If you are out on a mission to find out about the best altcoins to buy now, an important parameter to consider is a cryptocurrency’s growth potential. Between ZCash, Monero, and DigiToads, a lot of analysts feel that the TOADS token has higher growth potential as it offers crypto users multiple ways to earn passive income. What’s more, coupled with its market performance and these options to earn passive income, one can easily build a steady source of residual income. Over the next few months, experts feel that the TOADS token price can potentially clock a 40x jump.
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