Consolidation weaknesses in the price for some top coins in the crypto markets continue to dampen the growth prospects of some altcoins. Despite this, DigiToads is still flying high, as evidenced by its presale raising over $4.8 million, and it continues to power on even at Lilypad eight. As things stand, it is already up by over 100% and is poised to hit 450% on official launch.
Utility the backbone of DigiToads growth
In a unique twist, meme coins have taken a stance and added something to give their existence some credibility should the strength of hype and speculation reach the peak and fall considerably. DigiToads early appeal to investors indicates that a real-world use case should be a priority for future crypto projects.
At the forefront of DigiToads utility is play-to-earn and NFT staking. P2E creates continuous interaction in the platform, while staking provides an opportunity for passive income. As things stand, DigiToads is working on a metaverse called the Swamp. In the swamp, interactions of all kinds will take place. Its native interactive feature, P2E, will have a dedicated room for players to battle it out to appear on the leaderboards for grand prizes.
DigiToads next utility layer is NFT staking. The platform is leveraging its popular frog meme that inspired its creation to offer amphibious non-fungible tokens. The tokens are a huge sell in the meme community. The NFTs will dominate the swamp and provide characters for P2E gaming. Those at the top of leaderboards can buy new NFTs using their TOADS or sell them in the gaming marketplaces for other players’ advantage.
DigiToads stands to benefit from in-game purchases, but the platform has set aside about 50% of the income to incentivize gamers and other stakeholders in the game. Every TOADS holder, even those inactive in gaming, will have a small share of in-game purchases profits.
Earning opportunities in the DigiToads ecosystem extend beyond P2E gaming. Trading competitions also provide another avenue. Those at the top increase their chances of owning some impressive platinum TOADS that open room for more possibilities in the DigiToads ecosystem. The platinum TOADS provides holders with the opportunity for decision-making. Every feature by DigiToads is geared towards increasing interaction and allowing the circulation of TOADS; keeping the community engaged is one way to guarantee the platform’s future.
DigiToads has set out a token burn feature as the community grows, the key to improving the value of its native coin. The feature creates scarcity, enabling TOADS to have a significantly larger value.
Ethereum & Bitcoin drops to key support levels
Bitcoin and Ethereum have suffered a setback, given numerous projections of the start of a sustained bull run into Q2. The sentiments now suggest bearish pressure, possibly highlighting price stagnation. The turn has affected major altcoins, significantly declining daily charts. As things stand, the demand for ETH has dipped, discouraging price resistance.
Bitcoin trading below $27,000 is a tremendous problem for ETH, requiring the largest coin by market cap above the figures to regain some short-term losses it has picked up so far in the year. Critically, the market is witnessing some departures.
ETH lost its selling strength following a decline below the $1,800 range. So far, it could not regain its buying strength and has a Relative Strength Index (RSI) below 40. The dip to below 40 is a huge hint that it is nearing the oversold threshold and that sellers are the driving force of the coin.
While top crypto candidates have reached the oversold threshold already, a new trend is that some penny coins are growing wildly. To some extent, DigiToads holds as a coin having an electric start. Its outstanding presale highlights this. The coin utility features will continue to drive it forward even as markets readjust to external pressure.