SPONSORED POST*
The prevailing thesis amongst seasoned crypto actors is the overperformance of new DeFi projects. On-chain data firms have verified this by tracking thousands of wallets created in 2017 and have seen a heavy weighting towards new ERC20 coins and projects launched throughout the bear market.
Does that mean the best altcoins to invest in are small-cap altcoins? That is certainly what these experienced investors are doing, and it explains why DigiToads (TOADS), a new Ethereum (ETH) memecoin, has gained more momentum than Cosmos (ATOM) and Tezos (XTZ) in the last months. Despite being top altcoins in the prior cycle, both rapidly lose ground to this new contender.
Summary
DigiToads (TOADS) The Future of DeFi
DigiToads’ presale speaks for itself, and the impressive raise of over $6.4 million signals a bright future for this Ethereum-based memecoin. TOADS takes all the best qualities from the memecoin genre and blends them with sophisticated economics to create what analysts called a ‘‘third-generation meme utility hybrid.’’
The Toad Tax is the economic engine of the protocol directing capital throughout the ecosystem. It funds payouts for the NFT staking payout pool and orchestrates the deflationary campaign. Smart contracts burn 2% of every transaction, making TOADS hyper-deflationary and locking in value for holders. This scarcity induced analysts to forecast a 2,100% rally for $TOADS over the next twelve months.
Toad-Cade, the ecosystem’s play-to-earn game, offers investors a chance to win real money, with the top 25% of players winning a portion of the seasonal prize pool. The Platinum Toads initiative exposes community members to the returns possible from crypto trading by giving partial remote treasury control to the most skilled community members.
The Trading Post (the native DEX) allows users to earn by providing liquidity and keeps all the revenue generated from swaps inside the ecosystem. DigiToads has established a powerful flywheel, and this ecosystem will take off on August 21st when all the mechanisms go live; indeed one of the best altcoins to invest in this year.
Cosmos (ATOM) Osmos Trading Volume Falls 43% in Q2
Cosmos (ATOM) was undeniably one of the best altcoins from the 2021 cycle, and its vision to create an app-centric future has come true. The only problem? Instead of this app-chain future occurring with the Cosmos (ATOM) ecosystem, it has taken place within Ethereum (ETH) due to the advent of layer twos.
Messari released a report citing that trading volume had fallen by 43% in Q2 on Osmosis, the central trading hub of the Cosmos (ATOM) ecosystem. Analysts remain more optimistic about Cosmos (ATOM), citing the Cosmos SDK and Tendermint consensus engine powering new projects such as Injective (INJ). Their forecasts see $ATOM trading between $15.69 and $19.14 in 2024.
Tezos (XTZ) Nairobi Upgrade
Tezos (XTZ) recently pushed its Nairobi upgrade, which theoretically increases transaction speeds by up to 800%. This marks the fourteenth significant upgrade to Tezos (XTZ), but unfortunately for $XTZ holders, the markets did not react.
Tezos (XTZ), from a tech perspective, remains a fantastic layer one blockchain, and its on-chain upgradability mechanic has allowed this blockchain to update without the need for hardforks. However, it still sees poor user activity with low numbers of transactions compared to other layer ones. Analysts forecast a potential range between $1.47 and $1.73 for Tezos (XTZ) in 2024.
Closing Thoughts: Providing Value- The New Meta
Investors who have seen the value of their portfolios fall by up to 80%, perhaps more, during the worst months of the bear market now demand better value accrual mechanisms. And it is becoming increasingly clear that this cycle layer twos will outperform alternative layer ones which dominated the last cycle.
This indicates a significant influx of value to Ethereum and everything contained under its broad umbrella. DigiToads’ presale success highlights the current preference for utility and value share, and investors can still join the community in its earliest stage.
*This article was paid for Cryptonomist did not write the article or test the platform.
