Emerging crypto regulation boosting Polkadot, Filecoin, and DigiToads
The competition between nation-states to attract crypto talent and capital has been one of the most surprising emergent trends throughout the bear market.
The UAE has rapidly drawn investors and startups, Hong Kong is not far behind, and even the United States pivoted away from its aggressive approach, primarily orchestrated by the Chair of the Securities and Exchange Commission (SEC), Gary Gensler.
Europe passed Markets in Crypto Assets (MiCA), and a US judge’s recent seminal ruling turned sentiment on altcoins bullish practically overnight.
These crypto regulation breakthroughs have supported altcoins, and Polkadot (DOT), Filecoin (FIL), and DigiToads (TOADS) are firm.
DigiToads meme utility hybrid
DigiToads benefits from the increasingly lucid crypto regulation and enjoys a privileged status along with other ERC-20 tokens.
New decentralized finance (defi) and old projects have always existed outside of the regulator’s reach. However, recent fears have begun to circulate that this would change.
Regulators have shown they are happy to leave defi alone, and DigiToads’ presale soared as a result and, to date, has netted an impressive $6.4 million.
DigiToads’ hybrid design builds on the virality of meme coins. It underpins this explosive price action with core end utility for users as a defi-native earning vehicle. The ecosystem, known as The Swamp, provides an all-in-one experience suitable for crypto for beginners.
Toad-Cade, the play-to-earn game, is one earning opportunity for community members. However, the features stealing the limelight are the non-fungible token (NFT) staking mechanic and the Platinum Toads Initiative.
The NFT Staking mechanic gives a new utility to digital collectibles and allows owners to earn dependable payouts. Even better, the rewards come in TOADS, and the aggressive token burn means community members earn rewards in a deflationary token.
The Platinum Toads initiative allows investors to access crypto trading profits through token ownership.
DigiToads selects the twelve most skilled on-chain traders from the community giving each remote control over 1/12 of the treasury.
These traders keep 10% of all profits generated throughout the month and, by growing the TOADS’ treasury, ensure increasing payouts to all TOADS holders.
Polkadot developer activity is increasing
Developer activity is rising on Polkadot, likely due to a talk from Gavin Woods that unveiled Polkadot 2.0.
This overhaul to the network’s business model, shifting from a chain focus to an app focus, bodes excellently for long-term DOT holders. And the ecosystem has become home to an increasingly diverse range of defi companies.
Polkadot has continued its auctions throughout the bear market, adding specialized blockchains in a piecemeal fashion.
This slow but steady approach has gradually increased the utility of each project housed within this interoperable giant.
Analysts forecast DOT targeting a high of $12.18 next year, showing long-term conviction.
Filecoin storage deals rise in Q2
Filecoin, a decentralized storage network, has deepened its role in crypto and represents an excellent pick-and-shovel play.
Solana recently leveraged Filecoin to keep a decentralized copy of its block history.
Price predictions from analysts expect FIL to target a range high of $10.62 next year, indicating this may become an industry standard.
Demand for Filecoin storage increases, evidenced by a recent report from Messari detailing how Filecoin storage deals rose in Q2.
All payments for protocol services are made in FIL, and this increasing demand adds a welcome source of buy pressure for Filecoin investors.
Closing thoughts
Before the alt season starts next year, many new crypto projects stand a chance in 2023.
DigiToads is one such project that has garnered considerable funding and community support, making it a potential candidate to become a blue chip in the next cycle.
Interested participants can join the presale today and be part of the project’s early launch stage.
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