Bull markets make money; bear markets make opportunities. As Bitcoin (BTC) catches strong support passing the $30k mark, altcoins look seriously undervalued. Ethereum (ETH) is gearing up to kick off the next leg up, and investors buying altcoins should net tidy profits in the coming months.
All eyes rest on the top DeFi projects, and the three coins that will dominate the crypto scene in July are DigiToads (TOADS), Arbitrum (ARB), and GMX (GMX).
DigiToads (TOADS) DeFi 3.0
When it comes to DeFi, few protocols do it better than DigiToads. This exciting presale has shot to stardom, raising an astounding $5.7 million, and with no vesting period, it is changing the presale model itself!
The Swamp (the DigiToads ecosystem) features numerous ways for TOADS holders to earn, and this peloton of passive income has rapidly pushed this project into the ranks of top altcoins. Toad-Cade, the play-to-earn game, allows players to generate real-world income by battling in-game NFTs with the chance to win the seasonal prize pool. Additionally, part of the proceeds from the in-game store fund an airdrop for all TOADS holders each season.
The Trading Post, the native DEX of the ecosystem, allows all value created through trading to be retained by The Swamp and provides another source of revenue generation for this rich, diversified ecosystem.
But the mechanic stealing the limelight is DigiToads’ brand-new NFT staking mechanism. Users fast enough to acquire one of the 3,500 NFTs currently available for sale will receive payouts funded by ecosystem activity.
A clever taxation system ensures consistent payouts for TOADS holders and introduces an aggressive deflationary aspect to the protocol. This enforced scarcity has analysts forecasting an enormous leap in the TOADS valuation expecting a 700% rally in the coming weeks.
Arbitrum (ARB) Leading Layer Two Season
Arbitrum (ARB) is another token in the conversation regarding best altcoins, and analysts expect that the incoming EIP-4844 will lead to a fresh breakout for layer twos in terms of economic activity and price exploration.
Arbitrum (ARB) has established itself as the leader of the layer two scaling race and will become the home of innumerable dApps in the coming bull run. All this increased market activity bodes well for the $ARB valuation, and forecasts from analysts forecast $ARB trading in a range between $2.09 and $2.40 in 2024.
GMX (GMX) Trading Volume Soars
GMX (GMX) has been an enormous beneficiary of the pivot towards on-chain trading services as FUD surrounded Binance and Coinbase following a regulatory barrage from Gary Gensler and the SEC.
GMX (GMX) V2 launches soon, introducing a new set of assets for traders to speculate on, and an increase in trading activity means increased fees and, therefore, more demand for $GMX.
If the trend toward DeFi continues, GMX (GMX) should see a considerable increase in trading volume which typically increases with market sentiment. As a result, analysts have forecasted this trading-specialized altcoin trading between $92.03 and $114.53 in 2024.
Closing Thoughts: Altcoins to Watch
$TOADS, $ARB, and $GMX present an excellent basket of ERC20 coins for investors looking to enjoy explosive gains throughout July. But $TOADS takes the lead for one simple reason. It has a smaller market cap than its competitors.
Although $ARB and $GMX display decent upside potential, they simply cannot match the expansionary phase that DigitToads moves towards. When $TOADS launches on centralized exchanges, early holders better strap in because this altcoin has 100X material written all over it.Visit DigiToads Presale
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