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Cryptocurrencies are increasingly struggling amid regulatory pressure, with Binance coin (BNB) feeling the brunt owing to its close ties to the Binance exchange. However, amid the pressure, some coins continue to exhibit strong growth potential. DigiToads (TOADS) is the new entrant shrugging off the bear market run on attracting smart money and generating over $3.7 million in presale.
DigiToads Solid Gains and Successful Presale
DigiToads has been taking the lead with over 140% gain in presale as more established coins like BNB slow down amid regulatory pressures. While still in presale, the project has reached the top ICO list on strong and positive investor sentiment and raising over $3.7 million and counting.
Its growing popularity is down to the merging of a play-to-earn (P2E) ecosystem and stake-to-earn features that have introduced actual utility in the meme coin sector. Dogecoin (DOGE) and Shiba Inu (SHIB) rose to prominence purely on hype and speculation. However, with investors’ focus shifting towards projects addressing real-world problems and backed by solid utility, DigiToads has set itself to take over from the two meme coin stalwarts.
DigiToads has leveraged the play-to-earn model to provide utility beyond what most people have been accustomed to with most meme coins. Consequently, it has unleashed a thrilling Web 3 game whereby people only have to acquire and nurture game avatars to make them resilient in a swamp metaverse. By simply purchasing food potions and training equipment, gamers can make their avatar the biggest and strongest for an opportunity to win TOADS tokens.
TOADS is the native token people can use to purchase in-game items to enhance their chances of winning prizes. Additionally, the token can be staked to improve liquidity in the ecosystem and secure it. In addition, it also doubles up as a governance token.
Likewise, DigiToads has sought to diversify passive income-generating opportunities in the ecosystem by implementing a unique NFT staking pool. Users who stake their NFTs in the platform are to earn some passive income in TOADS tokens. The project will use 2% of every TOADS transaction fee to reward people who stake in the pool.
Additionally, there is an opportunity to walk away with monthly prizes for participating in trading competitions. DigiToads is to reward people with the highest trading volumes every month with Platinum Toads that they can use to access the TOADS treasury.
While the total supply of the TOADS tokens that will ever enter circulation is capped at 585M, it should provide a balance between scarcity and supply. Being a deflationary token, there will be a mix of token burns and other forms of usage that will ensure supply reduces over time.
Binance Crumbles Amid Regulatory Pressure
Binance token (BNB) has struggled to maintain the strong upward momentum experienced at the start of the year, losing more than 20% in market gains from its 2023 highs. The underperformance has everything to do with Binance, the world’s largest exchange by trading volume, facing considerable regulatory pressure.
The exchange is under probe in the US, a move that has left investors questioning the risks of keeping funds on the platform. Moreover, with the exchange founder Changping Zhao facing probes for allegedly selling unregistered crypto derivatives, the BNB token will likely remain under pressure.
Bottom Line
DigiToads’ utility around P2E gaming, NFT staking and trading has been the missing link in the broader meme coin sector. As investors turn their attention to projects backed by solid fundamentals and utility, it remains well-positioned to outperform Dogecoin and Shiba Inu, which don’t have any real-world applications.
Analysts and the creative team behind the project expect the token to explode by more than 1000%, going by the strong reception in presale prior to listing in a major exchange. As a result, TOADS token should continue outperforming BNB token but faces an uncertain future as investors question the need to keep funds in the Binance exchange amid regulatory scrutiny.
For more information on DigiToads, visit the website, join the presale, or join the community for regular updates.
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