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Previously known as Matic, the 2019 startup Polygon (MATIC) debuted in a presale on the Binance market for $0.00263. Its first launch price was $0.004418. After reaching its peak, the cryptocurrency market began to trend downward, and MATIC dropped to a low of $0.3466. Even if the coin has already rebounded, it is still below its record high.
In the last month, Polygon has seen a significant sell-off due to the Securities and Exchange Commission (SEC) prosecuting Binance and Coinbase for trading unregistered securities. Regrettably, the SEC classified Polygon as a security along with other cryptocurrencies.
On June 27, Robinhood decided to remove Polygon, Cardano, and Solana from its marketplace to liquidate all still tokens. The growing selling pressure may negatively impact these coins’ prices, which has alarmed the communities that hold them. The recent price decline has caused a significant amount of this fear.
It is unlikely that Polygon will have significant growth this year due to the SEC’s designation of the cryptocurrency, as security concerns about Polygon’s extraordinary concentration prompted the SEC to take action. The SEC is uneasy about Polygon because it offers benefits, including a rollup for the Ethereum Virtual Machine and a Proof-of-Stake (PoS) Ethereum side chain.
The problem is with Polygon’s standard PoS chain, which uses only 100 carefully selected validators as part of its main product. This high degree of centralization satisfies the requirements set forth by the SEC’s Howey Test, which determines whether an asset meets the definition of security. This makes it uncertain how much MATIC will cost in 2023 and whether Polygon Labs, the business that created Polygon, will side with Coinbase and Binance in a legal battle with the SEC.
Despite these challenges, there have been recent positive developments, such as institutional interest in creating Bitcoin ETFs and the fact that Polygon has already experienced a significant sell-off. These factors could contribute to Polygon’s upward movement this year. The uncertainty surrounding the situation does not indicate good things for Polygon, prompting experts to recommend investing in promising cryptocurrency projects like DigiToads (TOADS).
DigiToads’ (TOADS) Recent Performance Hints At Upcoming Rally
Due to the success of the DigiToads presale, it has achieved acclaim as the Shiba Inu (SHIB) rival and is touted to outperform Dogecoin (DOGE) soon. DigiToads ensures profit by integrating trending NFTs, play-to-earn gaming, and a Metaverse platform. These offerings ensure that TOADS tokens have a good utility and a robust use case in future years.
DigiToads has defied current bearish trends, seizing the opportunities presented in the market and enjoying massive price growth due to demand. DigiToads has been predicted by industry analysts to rally 1400% in price this year, and those predictions are already coming in based on its recent performance as the best ICO.
DigiToads’ stellar performance is backed up by its successful ongoing presale, which features the best ICO numbers of the year. The presale has sold over 356 million tokens, raised over $5.8 million, and delivered a 370% price rally from $0.01 to $0.047. DigiToads is now the best crypto to buy for investors excited about making more gains with subsequent developments.
The cryptocurrency platform recently launched its collection of 3500 trending NFTs, Toads Friends, for minting. The demand for these tokens has skyrocketed, and Web3 experts predict that growing adoption could contribute to TOADS achieving the 1400% projections this year. This prediction makes DigiToads the best crypto to buy in 2023
The future seems exceedingly bright for TOADS. On-chain data highlights that numerous crypto whales accumulated tokens during the presale. They’re likely positioning for the future price rally, which would be sparked by upcoming cross-chain adoption and TOADS listing on exchanges like BitMart and Uniswap.
DigiToads could surpass Pepe’s (PEPE) 1500% rally because listing on two significant exchanges immediately after its launch would exponentially increase liquidity and the buying pressure on TOADS. As such, if DigiToads can continue this momentum, there’s a growing belief the token could surpass its 1400% projections this year.
Conclusion
While Polygon faces significant challenges and uncertainties due to regulatory concerns and recent sell-offs, DigiToads holds promising opportunities in the cryptocurrency market. Investors seeking potential gains and exciting developments should turn their attention to DigiToads. In an environment where cryptocurrencies face regulatory obstacles, DigiToads shines as a beacon of hope, delivering profits while thriving amidst the bearish market. The future looks bright for DigiToads as it aims to outperform expectations and make its mark in the investment sector.
*This article was paid for Cryptonomist did not write the article or test the platform.
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