The crypto market is never dull and stagnant; it always moves, changes, and evolves. And after the last few months of bullish movements, August started with major drops for certain assets.
According to the latest news, SEC has recently filed a lawsuit against Richard Heart, the founder of Hex, accusing him of illegal sales of unregistered cryptocurrency securities. At the same time, several stable pools on Curve Finance were taken advantage of due to a vulnerability in some versions of the Vyper programming language. This security issue led to losses of more than $52 million and a decrease in the value of Curve’s token, CRV.
Amidst this chaos, some assets have proved to be August’s top and highest-yield picks: Solana, Polkadot, and DigiToads (TOADS). What guarantees their ongoing success?
Why DigiToads?
DigiToads, an emerging play-to-earn and stake-to-earn NFT-based meme coin is poised for a highly anticipated launch in less than three weeks, making August an exhilarating month for the project. The multi-functional ecosystem that underpins DigiToads has garnered considerable attention. The platform revolves around the Web3 game Toad Cade, where players can train, breed, and compete using their distinct DigiToads, all within an engaging virtual environment that offers substantial in-game rewards.
The ecosystem further integrates on-chain trading incentives and NFT minting/staking capabilities, amplifying opportunities for community engagement and reward accrual. TOADS is also on the verge of launching its decentralised exchange, which will likely bring substantial advantages for investors. Future expansions include launching merchandise and a Toad school to equip its community with valuable trading insights and guidelines.
TOADS incorporates a 7% transaction tax into its tokenomics, which fuels its deflationary strategy. With allocations including a 2% token burn, 2% NFT staking pool, 1% liquidity pool, and 2% treasury, the circulating supply of TOADS steadily diminishes, promoting scarcity and potential price growth.
The momentum surrounding DigiToads is currently at an all-time high as the 10-phase presale enters its concluding stages, with a staggering 93% of the tokens already purchased. So far, the token’s price has soared by 400%, inciting investor anticipation for the token’s official launch. The present price of TOADS, $0.05, is projected to reach $0.055, suggesting promising returns for even today’s new investors. Adding to the investor appeal, the DigiToads team offers a 30% bonus through the promotional code LAST30.
Therefore, it’s hardly surprising that TOADS has garnered recognition as one of the most thrilling and talked-about new tokens this August.
Why Solana?
Solana has shown a consistent uptick in its Total Value Locked (TVL) from the onset of this year, maintaining its peak value since January 2023. This robust growth is a positive sign, revealing many assets staked on the Solana platform.
Solana’s significant strides within the DeFi arena have positively influenced its market price. In the previous month, the token’s value experienced a surge, nearing the $30 threshold by mid-July – a clearly bullish trend. This price increase enabled it to overtake several other cryptocurrencies, elevating it to the 9th position in market capitalisation.
During this upward trend, Solana’s trading volume substantially increased, with prevailing positive sentiment underscoring investors’ trust in the token. The token also witnessed high demand within the derivatives market, as seen from its favourable Binance funding rate. This continued demand and positive sentiment highlight Solana’s position as one of the top picks for August.
Why Polkadot?
Analysts predict Polkadot remains bullish if it sustains a support level of $4.500, suggesting a potential upswing over time. Polkadot’s price has experienced an approximately 25% recovery from its recent low point, indicating that buyers are working to shift the short-term trend to a positive one.
Polkadot’s price fell under $5.00 in June, inciting a wave of hasty selling. Nevertheless, the sellers could not maintain this downward momentum in July, resulting in a swift rebound in price. With a steady pace, the prices were restored, and buyers were able to reestablish the 50-day exponential moving average (EMA).
As long as Polkadot maintains its price above $4.500, the likelihood of an upward-range expansion remains strong. With the current trading price at $5.1, Polkadot is positioned as one of the most promising cryptocurrencies for August.
Summary
The crypto market is full of innovation and hype, but maintaining this hype seems somewhat difficult. However, This smiley amphibian, DigiToads, has managed to remain in the spotlight, consistently capturing media headlines over the past few months. With the launch around the corner, Investors eagerly seek to secure their share of TOADS in anticipation of significant returns upon its debut on the exchanges.
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