Staked ETH Hits 20M while DigiToads gains investor surge
Ethereum is one of the most demanded and traded cryptocurrencies of all time. In 2022, the Ethereum blockchain comprised more than half of the global decentralized finance (DeFi) market. It recently achieved another milestone after the number of staked ETH tokens crossed 20 million. Another cryptocurrency that has been making impressive strides in the DeFi market is DigiToads (TOADS). It’s also built on the Ethereum network and is making waves with its hybrid model that encapsulates the utility of three different kinds of cryptocurrencies.
DigiToads: The best crypto investment of 2023
DigiToads is a nuanced crypto project where a meme coin, a play-to-earn game, and a staking platform are combined to create a cutting-edge cryptocurrency. The key USP of the TOADS cryptocurrency is that one doesn’t have to shuttle between different platforms to stake NFTs, trade tokens, or enjoy eb 3.0 games with lucrative rewards. To access these opportunities with just a few clicks, you must acquire DigiToads’ native cryptocurrency, the TOADS token. The token is modeled on Ethereum’s ERC-20 protocol and is the medium of exchange on the DigiToads network.
The DigiToads (TOADS) token can be bought on presale, which is currently in its ninth stage and will end soon. So far, the project has collected over $5.74 million in presale funding and sold around 94.81% of the tokens the team had allocated for presale stages.
What makes DigiToads a good crypto to buy is its deflationary character. With a deflationary model, DigiToads safeguards its users’ interests so they don’t lose their returns to market volatility. The model mandates that the token supply be controlled in a way that it always stays below the demanded level, as a scarce supply will minimize price fluctuations. All extra tokens in circulation are destroyed during the ‘token burn’ events that the DigiToads team regularly organizes to rein in the supply.
There is no vesting period, so buyers will be able to access their purchased tokens as soon as the payment process is complete. Users should know that should they decide to sell the TOADS token, they would have to pay a 7% sell tax. The tax proceeds would be used for different use cases like maintaining the liquidity pool, the NFT staking pool, and the treasury. Some tokens collected as tax proceeds will also be burned to limit the supply.
In the coming months, the DigiToads team will be rolling out its official merchandise that community members can buy. The proceeds from the sale of these items would go to organizations working for environmental conservation. The team would also be donating 2.5% of the annual profits to organizations dedicated to the cause of preserving rainforests.
HSBC Hong Kong allows Ethereum trading in ETFs
Ethereum is among the top crypto coins that have managed to maintain their hold over the crypto market for years. The open-source blockchain and its state-of-the-art technology powers not only DeFi platforms and dApps but also cryptocurrencies, NFTs, and virtual machines. Its native token is ETH, and it’s the main cryptocurrency of the Ethereum network.
In 2022, the platform undertook a massive software grade, switching from the proof-of-work consensus protocol to the sustainable and less energy-intensive option – the proof-of-stake algorithm. The upgrade lasted months and was dubbed as ‘The Merge’. In 2023, Ethereum announced another upgrade – the Shanghai upgrade, where ETH token holders would be able to unstake their coins and withdraw ETH rewards. In a recent development, HSBC Hong Kong announced that it would allow its users to now trade the ETH token with Exchange Traded Funds (ETFs).
Conclusion
If you are looking for the best altcoins to buy now, Ethereum and DigiToads are great options. But what about the long-term scenario? How do these cryptocurrencies fare in terms of growth potential? If you ask analysts, most of them will go with DigiToads because of its multifaceted model. With more than one way to earn passive income, you won’t be running out of options any time soon. Plus, you can leverage these options even to build a steady source of income. As far as prospects go, market experts feel that the TOADS token has the potential to grow by at least 40x over the next few months.
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