Ending the first quarter of 2023 with an impressive market cap of $1.2 trillion, the cryptocurrency market has set the pace for what analysts are calling an eventful year for the DeFi industry. As we close in on the second quarter, established cryptocurrencies like 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 been skyrocketing because of its unique economic model that makes earning with cryptocurrencies stress-free. Be it staking NFTs, trading tokens, bagging crypto rewards in Web 3.0 games and even winning daily prize draws – you can do all this on one platform from now on. 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 buying the TOAD token, there is no better time than now as the token’s presale process is in its penultimate stage. With eight of 10 stages complete, the cryptocurrency ico has so far sold out more than 94% of tokens allotted for presale.
The thing about the TOADS token that has been drawing everyone is its versatility. Not only can you use the token for various transactional purposes on the network like staking and trading but 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 every token holder is assigned exclusive voting rights. With these voting rights, token holders can vote for a proposal pitched by a fellow community member.
The TOADS token is also a deflationary coin which means that it protects your returns against market volatility. A deflationary model mandates that the token supply is continuously adjusted to make sure it doesn’t exceed the demand. This is done by destroying or burning extra tokens in circulation through regular ‘token burn’ events scheduled by the DigiToads team.
As part of its plans for the future, the DigiToads team has decided to donate 2.5% of its annual profits to organizations involved in rainforest preservation and replanting of trees.
What are analysts saying about Cardano?
Cardano is a blockchain platform powered by the Ouroboros protocol and enables developers to build scalable and user-friendly dApps with its range of tools. These tools provide enhanced efficiency for a decentralized service or app as they are based on an evidence-based methodology and peer-reviewed research. Its native token ADA is used for various transactional purposes on the network. Plus, Cardano is a sustainable blockchain as it leverages the proof-of-stake consensus algorithm. Despite being a promising crypto project, Cardano’s token price has been witnessing negative price action over the past few weeks which has led to analysts maintaining largely bearish sentiment towards the ADA token.
Binance looks to boost UAE operations
Binance is a leading cryptocurrency exchange and its native token Binance Coin remains one of the top cryptos 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 become eligible for a rebate in fees. In a recent development, Binance Dubai general manager Alex Chehade said Binance Coin would be focusing on its UAE operations in the wake of the regulatory action that the crypto exchange is facing in the US. Chehade said the UAE had a “friendly stance” towards digital assets and was a prime location for crypto businesses.
Conclusion
Cardano, DigiToads, and Binance Coin are among the best altcoins for 2023 because of their utility-centric models and next-generation code architecture. While Cardano and Binance Coin have their share of strength, they lag behind DigiToads as it has a higher growth potential – an observation that even analysts agree upon. Experts who have reviewed the TOADS token feel that’s multi-faceted model can help its holders meet their long-term investment goals with ease. They also feel that the token can potentially surge by 40x in the coming months.
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