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- Insights
- Cryptocurrencies
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- White Papers
- Industry
- Geography
An unprecedented whirlwind hit the crypto market on Friday, the most affected crypto was ADA. The decline revised the potential earnings of ADA owners some points lower. Cardano has lost its shine and is now among the worst-performing crypto products in the top 10 list.
While the markets are harsh to products like ADA, DigiToads (TOADS) is having a good time. Its presale has proved the viability of dual-faceted meme coins, integrated with utility.
Here is more about the two events shaping the crypto market.
DigiToads has come a long way. A few months ago, it was a budding project, existing on the fringes of the crypto market. Now that their presale has ended. Means a start to the official phase. The project quickly rose to fame with its multifaceted nature, giving people an opportunity to own NFTs, while being able to stake their tokens. Massive rewards given to early participants dominated the early stages. Currently, various giveaways are on the run, alongside staking pools that promise active income.
The project promises an exciting virtual space, swirling with TOAD characters that make gaming entertaining. Together with the inbuilt character marketplace for gamers, top candidates on the leaderboards receive more TOADS when they prove to be better than other people in the DigiToads gaming ecosystem.
Income streams do not end in the gaming arena. The NFT staking pools and token staking spaces exist for passive income streams. The two work based on length of storage, those able to stake their tokens longer receive additional TOADS as interest.
DigiToads is open to anyone. Anyone can have a piece of a TOAD NFT by minting them on the website. The feature will be open for trial as of 21st August at 11 am UTC. Having the assets is a ticket to more rewards in the staking pools. In addition, the platform has partnered with OpenSea to make it easy to buy and sell away from the DigiToads ecosystem.
The token staking pools are also straightforward to navigate. They are easy to enter and exit. The pools are accessible soon after the purchase of TOADS anywhere, which are exclusive in the DigiToads ecosystem. They enable people to navigate the swamp metaverse, game marketplace, and any transaction within the DigiToads ecosystem.
DigiToads is an investor-centered platform, giving power to the community via the DAO, and the amount of staked assets running. The platform offers multiple reward features, focused on growing the stakes of an investor. Multiple NFTs offer better returns when left to grow in the platform. They maximize rewards, increasing the overall stake of the holder. Further, assets grow at the discretion of the holder. The owner can withdraw them at will.
The staking pools complement the liquidity pool in making the DigiToads project transparent. Budding TOAD owners quickly enter the community via the pools, and can exit at will. In addition, the platform openly admits the rate of taxation on various transactions in the project, helping fund various activities.
Cardano is in a tight spot after entering a brief period of slump, following headwinds in the crypto market. While the slip has hit most spaces in the crypto world, ADA remains the most affected token in the top 10 list.
The event is a sign of falling profits for those who have taken positions in ADA. On-chain data trackers estimate up to 90% of ADA holders have suffered losses preceding this event. The metric comes from the estimation of profits from the last moment ADA holders moved their assets. If the last mass exodus happened when prices were higher than the next movement's, those holding could be at a loss.
The volatile crypto space has taken some crypto products into a loss. One of those affected is ADA. The crypto product is some points lower than the last estimated price for the product when a mass movement happened within the blockchain. However, while things remain tough for ADA, DigiToads is having a good time, and promising many income streams.
