Crypto traders had been starved of volatility since early March, and they finally got the volatility they wanted, but in the wrong direction. August 17th witnessed a massive sell-off event, and Bitcoin (BTC) and Ethereum (ETH) markets experienced a $1 billion liquidation blow.
Bitcoin dipped more than 12%, touching a low of $25,000 before a recovery. As fear permeates the markets, crypto whales flock to DigiToads (TOADS), a meme coin poised for 1,500% growth and forecast to overtake Shiba Inu (SHIB) before the end of 2023.
But why are investors rushing to TOADS? And why have analysts earmarked DigiToads as one of the best altcoins to invest in? The answer is the NFT Staking mechanic. Payouts will begin at 11 am on August 21st, and investors not yet holding one of these NFTs will have to act fast.
DigiToads (TOADS) Eyes 1,500% Surge
DigiToads launches on August 21st, and following a terrifically successful presale (over $7 million raised), analysts expect fireworks. The recent mass-liquidation event adds fuel to the fire, with more crypto investors holding stablecoins ready to deploy into promising protocols. Analysts expect $TOADS, the native token, to display hockey stick growth forecasting a 1,500% move to the upside before the end of the year.
Whales have flocked to DigiToads for several reasons. The all-encompassing earning journey contained within The Swamp (the native ecosystem), including mechanics such as Toad Tax and the Platinum Toads initiative, makes $TOADS ownership compelling.
The Toad Tax routes capital throughout the protocol and ensures a constantly decreasing total supply via burning 2% of all transactions entering and exiting The Swamp.
The Platinum Toads initiative integrates asset management services. It puts 12 of the best community traders in charge of the treasury and allows them to expand it by trading in DeFi.
But the headline has to be the DigiToads NFT Collection, and the bulk of token emissions gets directed to these holders. Those who have approved and staked their NFT via the Staking Portal will begin receiving rewards promptly at 11 am August 21st. With instant staking and unstaking and the ability to stake multiple NFTs, could this be the year’s most lucrative passive income flow?
Crypto whales think so and have been buying up the collection. All eyes are on the launch, and $TOADS is one of the altcoins to watch in the coming weeks!
Bitcoin (BTC) and Ethereum (ETH) $1 Billion Liquidation Event
Leverage is a powerful tool, but it is and always will be a double-edged sword. Evergrande announced bankruptcy sending ripples of panic throughout markets, and smart investors who saw the build-up of leveraged longs on $BTC and $ETH, decided to flush out these positions.
The result was a cascading liquidation event, with $BTC hitting $25,000 and $ETH falling to lows of $1,550. Markets plummeted to lows not seen since June earlier this year, and sentiment has shifted from overwhelmingly bullish to bearish practically overnight.
However, analysts remain firm in their bullish conviction long-term, predicting a potential high of $68,191.48 for $BTC in 2024 and a possible high of $4,516.16 for $ETH in 2024.
Closing Thoughts: New DeFi Projects Offer Better ROI
The top altcoins all bled out due to the market leaders collapsing. Now, the best altcoins to buy are those with smaller market caps because they offer more significant ROI and experience way less leveraged trading- the cause of the $1 billion liquidation event.
The DigiToads launch cannot be ignored and promises to be one of the standout investment opportunities of the year. August 21st, 11 am UTC, a date all investors should have marked in their calendars. Better yet, scoop a DigiToads NFT and begin earning directly at launch!
Visit DigiToads Homepage
Mint DigiToads NFTs Here
Buy DigiToads NFTs on OpenSea
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Source: https://www.analyticsinsight.net/bitcoin-and-ether-markets-experience-a-1b-liquidation-blow-crypto-whales-flock-to-this-shiba-inu-memecoin-poised-for-a-1500-growth/