SEC’s ETH concerns drive interest in LTC and TOADS
Winners and losers. Investors must select the former and avoid the latter. This was significantly more difficult in 2017. But at the current stage of development and all the research tools available to investors, this job has become far more straightforward.
A classic strategy is the purchase Ethereum (ETH) and hold. Its large market cap and solidified presence in the space made it an ideal cryptocurrency for beginners. And recent question raised over the SEC’s $ETH perspective made the asset even more bullish due to the SEC’s inability to declare its security.
Investors searching for the best altcoins to invest in and desiring more exciting returns than those offered by Ethereum need to look no further than Litecoin (LTC) and DigiToads (TOADS). These are the altcoins to watch, already seen as 2023’s big winners by professional crypto investors.
DigiToads (TOADS) eyes enormous 1,400% rally
DigiToads launched spectacularly at 11 am on August 21st, and investors are racing to get a piece of the action. The simplified approach to DeFi earnings composed into a single token makes this one of the best altcoins to hold throughout the bear market.
The powerful deflationary burning mechanic orchestrated by the Toad Tax ensures token scarcity at the protocol level. And the Platinum Toads initiative guarantees that value is imported from DeFi to community members by placing 12 of the community’s top traders in charge of the treasury, allowing them to trade it freely.
These two robust indirect value transfers work around the clock on behalf of investors, ensuring that the value of their $TOADS tokens continue to climb. But the feature that has drawn the most attention and sparked the fiercest bidding war is the NFT Staking mechanism.
NFT Staking replaces typical staking within DigiToads, and token emissions flow directly to owners of the DigiToads NFT Collection who have staked their assets via the Staking Interface.
These holders have already begun receiving payouts, and with NFTs available for just 0.1 ETH, analysts have touted these as some of the best NFTs to invest in for investors focused on securing passive income.
Litecoin (LTC) post-halving performance
Litecoin is another altcoin investors have to watch, and thanks to the halving event in August, block rewards have been slashed from 12.5 $LTC to 6.25 $LTC. This reduction in emissions, paired with the constant demand, means that holders should prepare for explosive price action later this year.
Analysts have always been bullish on events that reduce emissions and forecast $LTC hitting a potential high of $205.20 in 2024 as a result. Additionally, Litecoin has been one of the few top altcoins, which has consistently put in a new all-time high with each cycle.
This lite version of Bitcoin (BTC) should also witness greater demand with the increasing adoption of crypto payment rails. Investors want to save their $BTC, and paying with $LTC makes a great alternative.
Closing thoughts: SEC must accept cryptos are not securities
Earlier this year, when questioned in front of Congress during a five-hour hearing, Gensler, the current chair of the SEC, refused to comment on whether Ethereum is a security. Gensler’s refusal to answer de facto means he has no argument about why $ETH should be classified as a security.
This means incredible upside for all altcoins, and without regulatory uncertainty, in the coming months, some fantastic rallies will break out. Investors should pay special attention to Litecoin and DigiToads, both set to outperform the market massively.
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