Digitoads remains bullish while toncoin and eos prices slide
The cryptocurrency market can, sometimes, offer options that can boost returns and diversify a portfolio. The wide variety of assets also help investors consider other choices when it’s no longer profitable to hold another, regardless of its liquidity position and popularity.
For instance, as toncoin (TON) and EOS prices contract, many holders are exploring other options, and some are considering digitoads, an emerging altcoin.
The meme token on Ethereum has an ecosystem of products with features that may provide opportunities for users to earn passive income.
DigiToads is a meme token has features leveraging different crypto models for users to possibly earn passive income. These options range from staking, token swapping, trading competitions, giveaways, playing web3 games, and monthly rewards.
These features are often associated with a play-to-earn (P2E) or a stake-to-earn platform. However, DigiToads offers them all on a single interface. The platform’s native token, TOADS, is an asset investors can consider. It serves several roles and is also deflationary. This means that the token has an in-built mechanism that gradually reduces the token’s supply. A limited supply could minimize volatility and stabilize value.
TOADS is used for staking, trading, securing voting rights for governance, and making payments, among other use cases. The token can be acquired in the ongoing presale, phased out into 10 stages. The first four are complete while the fifth, Lillypad 5, is in progress.
DigiToads’ P2E game is popular within its decentralized finance (DeFi) niche. In the game, players compete in an arena-style metaverse swamp. For help, the players will be paired up with toads, who are digital creatures known for their special abilities. Winners are rewarded with TOADS.
Toncoin remains bearish
Toncoin is a layer-1 blockchain for settling global transactions.
It is was founded by the team behind Telegram, an instant messaging portal allowing encryption. However, the project was shelved later only to restarted by the Ton Foundation. Its native token is TON and is used for transactional purposes.
The network leverages the proof-of-stake consensus algorithm which adds to its scalability and efficiency. Toncoin has a multi-level structure based on sharding. This feature uses multiple shards or subnets for higher scalability.
Despite its popularity, TON remains under pressure and falling in valuation.
Analysts predict that the downward trend could impact its performance. All the same, TON could remain bearish in the short term.
EOS Foundation bags $60m investment from DWF Labs
EOS is a third-generation layer-1 blockchain for deploying dapps. The blockchain uses the EOS virtual machine whose native currency, EOS, is useful.
EOS relies on a delegated proof-of-stake consensus protocol that allows token holders to select node operators. This architecture allows for low latency and high performance, enabling developers build impactful projects using programmable architectures and customized smart contracts.
In a recent development, digital asset market maker DWF Labs announced that it has signed a $60m investment deal with the EOS Network Foundation. Funds will be used for fast-tracking EOS projects and expanding reach for more audience.
In this deal, DWF Lands would use $45m to purchase EOS and the balance to invest in other EOS-based projects.
Investors exploring digitoads
Investors and analysts remain bullish. Most are considering digitoads because of the platform’s functionality and features. By being community-centric, employing a hybrid economic design, and a rewards system that incentivizes participation, the project is sustainable.
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