Ripple and DigiToads rising, investors bullish
Bloomberg analysts have increased the likelihood of the Bitcoin (BTC) Spot exchange-traded fund (ETF) approval to 65%. Subsequently, pent-up latent demand will likely flow into crypto markets. But while investors await the result, several localized market opportunities have presented themselves.
There has been an influx of liquidity to new decentralized finance (defi) projects, with more going to DigiToads. The protocol has already raised over $6.8 million in the ongoing presale. Meanwhile, there is surging activity and demand for XRP.
Will XRP and TOADS continue rising in the days ahead? On-chain data indicates both can and could be altcoins to watch in 2023.
DigiToads is rising in defi
DigiToads’ early investors are already up over 400% in the ongoing presale.
TOADS prices will be increased once more before launch.
DigiToads incorporates elements commonly found in the meme genre, such as virality, token burning, and small-cap potential. These features are tied with utility in mind. The Swamp, the native ecosystem, also offers several earning opportunities.
The Swamp can offer three direct sources of passive income: Toad Cade, airdrops, and non-fungible token (NFT) staking. Additionally, there can be other indirect sources of income, such as token burns, Platinum Toads, and expansion.
Toad Cade is a play-to-earn (P2E) game where players battle toad NFTs. The protocol distributes the prize pool amongst the top 25% every season.
Users can upgrade their toads via the in-game store, and a portion of the revenue generated is airdropped to all members.
Rather than using the typical staking mechanism, DigiToads has implemented NFT staking, which focuses on staking rewards to incentivize long-term holding. The DigiToads NFT Collection has a staking payout pool receiving 2% of all ecosystem transactions.
The indirect revenue sources for all community members include the active treasury management system (Platinum Toads) and aggressive deflation. TOADS will be drawing revenue from The Swamp, a reason why analysts are bullish on the token.
XRP tailwinds
XRP’s value has been on the rise after a favorable ruling by a US judge. There has also been an increase in total transactions and active addresses.
Due to regulatory certainty, more businesses have adopted Ripple’s cross-border payment services. The protocol’s revenue is also rising as it pioneers into the central bank digital currencies (CBDC) space.
Analysts predict XRP to reach $1.67 in 2024 as demand for international B2B payments and remittances rises.
Closing thoughts
Crypto investors can consider altcoins with utility cases of which XRP and TOADS can be options.
In the DigiToads presale, TOADS is available for $0.05 but will rise to $0.055 on launch.
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