The shadow of regulatory action has been looming over the global crypto industry for some time now. The FTX crash and the recent SEC action against cryptocurrency exchange Coinbase are some of the grim reminders of troubled times.
Among concerns about regulatory action, cryptocurrency users are gravitating towards more dependable crypto projects like Bitcoin and DigiToads. While bitcoin (BTC) is one of the earliest cryptocurrencies rolled out, digitoads is a popular meme coin due to the project’s unconventional model.
The DigiToads platform combines meme coin features, a play-to-earn (P2E) game, and a stake-to-earn platform. Many analysts consider the TOADS token as one of the top crypto coins to have been rolled out this year.
DigiToads: expanding earnings
Built on Ethereum, DigiToads is a dynamic meme coin where players can access the features of a web3 game and a stake-to-earn platform.
Apart from trading and staking tokens, there are other opportunities to earn passive income.
These options include participating in blockchain-based games, winning giveaways, and entering trading competitions. Its native token, TOADS, is used for all transactions.
It’s available in the ongoing presale. The project has raised over $2.45m in its previous four sold-out stages, with over 87% of the fifth stage gone.
One of the key reasons investors, even beginners, should closely monitor DigiToads is the monthly trading competitions it plans to organize.
In these contests, traders can swap tokens, and the one registering the maximum trade volume will be picked as the winner. The reward at stake is a Platinum Toad which would open remote access to part of the treasury fund.
Under the guidance of the DigiToads team, all Platinum Toad holders would learn to manage the treasury. With these competitions, users would become more skilled and confident about trading and learn about treasury management. Traders would keep 10% of the profits they bring in.
As a cryptocurrency project that beginners can consider, DigiToads also has other features.
For example, its web3 game allows players to buy or trade digital creatures called DigiToads and use their help to defeat their competitors in a virtual swamp. At the end of the season, the top players on the leaderboard are selected as winners and receive TOADS rewards.
All in-game items, including DigiToads, food, potions, or training equipment, are bought using TOADS. Some of the tokens collected from selling food, potions, and training equipment are pooled back into the prize fund for the game.
Coinbase to halt its bitcoin-backed cash loan facility
Despite being launched years ago, bitcoin is among the top cryptocurrencies yet to lose favor among fans. Bitcoin is still going strong as far as its market performance goes.
The native cryptocurrency is known as BTC, and its unique selling point is that it’s the first coin adopted by the mainstream financial services industry.
In recent news, popular crypto exchange Coinbase has said it would no longer be issuing cash loans using BTC as collateral. The news hit the internet after some customers reportedly shared emails of their interactions with the exchange.
Until recently, Coinbase lent out cash loans against BTC as part of its “Borrow” program.
Crypto users could secure loans of up to $1m under the program.
The exchange said the program would be discontinued from May 10. All the same, the move won’t affect existing loans.
Why are analysts backing DigiToads?
Under the current circumstances, many analysts are gravitating towards DigiToads and TOADS, positively reviewing the project.
They point at the project’s features, some of which include a sustainable economic framework, a decentralized governance structure, a rewards system, and the leeway for crypto users to earn passive income.
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