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Coinbase and the SEC continue to fight, with the SEC alleging that Coinbase understood that some of its listings might be securities but went ahead and listed them anyway. This recent move from the SEC constitutes part of the larger battle between these two entities, and this regulatory uncertainty has pushed more crypto investors into DeFi.
Outside of regulatory grasp and potential legal action, DeFi continues to thrive. Due to this capital influx, Polkadot (DOT) and Cosmos (ATOM) have found stability. And many new DeFi projects have seen staggering rallies, with DigiToads (TOADS) providing an excellent example. TOADS has quickly become one of the top altcoins and accelerates toward a 50X surge.
DigiToads' fresh approach to DeFi has proven a hit with investors shown by its presale success. It has already raised more than $5.9 million, and early participants look forward to 50X gains driven by its robust flywheel ecosystem and aggressive burning campaign.
The DigiToads flywheel effect will soon kick into action, and The Swamp's various elements will generate revenue on behalf of $TOADS holders. The Trading Post, DigiToads' native DEX, provides a great source of income and, importantly, allows the ecosystem to capture all the value trading creates.
Toad-Cade, the play-to-earn game, encourages user participation and gives investors a chance to earn real money by battling toad NFTs. Additionally, the in-game store funds an airdrop for the entire community. The Platinum Toads initiative takes an aggressive, hands-on approach to treasury management. Distributing a portion of the treasury to the twelve best on-chain traders who trade on behalf of the community and grow the protocol's cash reservoir.
And the Toad Tax ensures a scarcity angle for $TOADS burning 2% of every transaction. This deflationary pressure was continuously cited by analysts when they forecast $TOADS rallying 50X.
Polkadot (DOT) 2.0
Polkadot (DOT) is an interoperability protocol, and the founder Gavin Woods recently unveiled his plans for Polkadot (DOT) 2.0. He plans to turn Polkadot (DOT) into a central player in the app-centric future through core rental.
Instead of leasing parachain slots (specialized blockchains), Polkadot (DOT) will now lease cores capable of supporting up to 100 parachains. This new model has intrigued investors, and several analysts have cited $DOT could be one of the best altcoins to invest in over the next year.
Price predictions remain bullish, with an expected upper-range high of $10.78 for $DOT in 2024.
Cosmos (ATOM) $USDT Launches on Kava
Cosmos (ATOM) has received native $USDT on Kava, bringing deep stablecoin liquidity to the entire ecosystem. Cosmos (ATOM) has long housed some of the best DeFi projects due to its app-chain vision facilitating the creation of unique blockchains through its SDK and Tendermint consensus engine.
However, the increasing popularity and scalability offered by rollups on Ethereum (ETH) have threatened this vision, especially with the rise of modular architecture for customizable rollups. Still, Cosmos (ATOM) has found stability, and analysts appear relatively optimistic regarding price action forecasting a range between $16.02 and $18.83 for $ATOM in 2024.
Closing Thoughts
Selecting projects from the increasing crowd of new ERC20 coins can prove challenging for newer crypto investors. But the best altcoins will always be those that provide tangible utility to end users. Hence why the self-propagating ecosystem built by DigiToads has become so highly prized. Analysts have even speculated that DigiToads may be a frontrunner and an early signal of an incoming altcoin season.
All investors have to do is hold, let the Platinum Toad traders grow the treasury, and watch the deflationary mechanisms reduce the total supply. For an a-to-z crypto wealth-building journey, participate in the TOADS presale today.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
