The world of cryptocurrency has always been a rollercoaster ride, where fortunes can be made and lost within the blink of an eye. One project that gained significant traction in 2021 was Solana (SOL), a high-performance blockchain platform that aims to revolutionize decentralized applications and tokenized ecosystems. However, recent market volatility has taken its toll on SOL’s price, as it slumped a staggering 90% from its peak in 2021.
While the decline in SOL’s price may seem disheartening for some investors, another token called DigiToads (TOADS) has managed to soar against all odds. In a surprising turn of events, DigiToads has experienced a 370% increase in value in the Lilypad 9 presale stage.
In this article, we dig deeper into the reasons behind the decline of Solana and the unique circumstances that propelled DigiToads to unprecedented heights.
Why is DigiToads rising?
DigiToads is a new meme coin that incorporates the principles of Play-to-earn (P2E) and Stake-to-earn (S2E). The Toads token was introduced through presale, which has now progressed to its 9Th stage and raised over $5.8 million and sold more than 356 million TOADS tokens.
DigiToads hopes to move the meme coin industry from one seen as a joke to a utility-based one by introducing play-to-earn, stake-to-earn, a metaverse, NFTS, and cryptocurrency trading into their meme coin platform.
Play-to-earn gaming is one of the most prominent features of the DigiToads platform. This feature, which is known as the Toad-Cade, allows players to participate in an exciting web-3 game where they can own digital NFT pets known as DigiToads.
Each DigiToads is unique in its size and characteristics. Players can enhance the size and characteristics of their DigiToads by purchasing different foods, portions, and other items from the marketplace. Players can also breed their toads and discover new toads as they participate in the game.
Since DigiToads are NFTS, they can also be staked on the DigiToads platform, to earn extra rewards in the form of TOADS tokens. Players who own more than four DigiToads will have free access to the Toad School a feature embedded onto the DigiToads ecosystem to help participants learn new skills they can utilize on the platform.
DigiToads will also have a metaverse, known as The Swamp. The Swamp is a community-focused metaverse designed to bring together all TOADs NFT holders. Just like in areal-world swamp where toads exist in harmony, learning from each other, and helping each other survive, the Swamp will help TOADS holders create a safe space, where they can learn new skills, communicate with other market participants, and learn from each other.
Once every month, DigiToads will host a trading competition that will give crypto traders a chance to showcase their skills. The most proficient and active traders are rewarded with a platinum Toad, which gives them access to 1/12 of the DigiToads treasury for future trades.
Solana’s fall
On October 25, 2021, Solana rallied to it’s all-time high price of $ 218.73. Since then, the coin has been on a downward trajectory, losing most of its value. 2022 was an especially hard year for Solana. Apart from the harsh cryptocurrency winter that hits the cryptocurrency market in that year, Solana faced additional challenges due to the collapse of the FTX cryptocurrency exchange.
Due to Sam Bankman Freud’s proclamation of his love of the Solana platform, and his accumulation of Solana tokens on the FTX platform, investors were quick to sell off their SOL holdings when the popular crypto exchange collapsed, leading to a loss of more than 90% of Solana’s value.
In 2023, Solana has been making gradual improvements, slowly regaining its value. At the time of writing, Solana is trading at $18.43 with a market cap of $7.3 billion. The Crypto coin currently ranks as the 10th largest cryptocurrency on Coinmarekltcap.
Final word
As Solana continues to slowly regain its value, DigiToads is causing a storm in the market with its insane presale growth and unique features that are bound to propel it into the list of top cryptocurrencies. So far, investors have already seen significant growth in the value of DigiToads, and market analysts foresee a drastic price increase upon launch.
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