Crypto markets have finally decoupled from US stocks, but with continued liquidity challenges facing the space and larger regulatory challenges from the SEC, has a new bull market really started? The positive price action enjoyed by Bitcoin (BTC) recently has mainly been cryptocurrency natives reallocating their portfolio to lead Spot ETF filings. In other words, there has been no inflow of new capital but rather a shuffling of the existing liquidity.
However, this gives investors one last chance to accumulate, and this article dives into 3 altcoins poised for success in these challenging market conditions: Monero (XMR), Polkadot (DOT), and Digital toads (TOADS).
Digital toads (TOADS) Introduces a new era of earnings in DeFi
DigiToads has joined the ranks of new DeFi projects launched during the bear market, and these protocols have been mandated to provide more value to holders and offer better overall utility due to the absence of cheap liquidity.
TOADS puts owners first at every step of the journey, and each angle of this protocol provides value to its followers. Key innovations such as the NFT staking mechanism and the Platinum Toads initiative put TOADS ahead of other ERC20 coins, making it undoubtedly one of the best DeFi projects on the market.
The NFT Participation Pool allows owners of digital collectibles to earn income through a unique participation process. He 3,500 toad-themed NFTs will collect the payments financed by the Toad tax. The Toad tax, along with fund payments for these lucky homeowners, also funds an incredible burn campaign, burning 2% of every transaction that occurs with The Swamp.
This built-in scarcity will rapidly increase the value of $TOADS as supply dwindles. But the one feature that turned analysts bullish and led to their 1200% forecasts for $TOADS over the next three months was the Platinum Toads initiative.
This feature distributes remote ownership of the protocol treasury to the most skilled on-chain community merchants. It allows them to trade and keep 10% of the profits; they earn a nice commission for their skills while aggressively building treasury.
This community-sourced trading arm gives TOADS a huge advantage and will allow the treasury to pay higher rewards to community members while engaging in expansive politics. Analysts have cited $TOADS as one of the top altcoins to watch this year.
Monero (XMR) CBDC Counters
Monero (XMR) is one of the leading privacy coins. It has facilitated anonymous transactions since its launch in 2014. Privacy and security are the two main focus points for Monero (XMR), which leverages advanced cryptography to hide the identity of senders and recipients.
More and more crypto investors are realizing the transparent nature of blockchain payments, and the growing rise of CBDCs has sparked a renewed interest in privacy solutions. Kraken was recently ordered by a court to release the data of all users who executed more than $20,000 in transactions.
Analysts expect increased regulatory scrutiny to push more users towards privacy coins, forecasting Monero (XMR) to trade between $285.97 and $340.25 in 2024.
Polkadot (DOT) Parachain Auctions Continue
Polkadot (DOT) was one of the best altcoins of the last cycle, and this interoperability protocol has continued the auctions of its Parachain slots. Notably, Moonbeam won auction 44, re-leasing its space for another two years.
Each new parachain slot adds an additional specialized chain that existing parachains can interoperate with. Every filled parachain slot increases Polkadot's (DOT) value proposition, and this sleeping giant should wake up soon.
The Polkadot (DOT) team is comprised of some of the most talented blockchain developers in cryptocurrency, including Gavin Wood, a major contributor to Ethereum (ETH) in the early days. This alone makes analysts bullish for the long term, with their price predictions forecasting a bumper year for $DOT holders that are expected to trade between $8.52 and $10.46 in 2024.
Final Thoughts: Bull Markets Make Money Bear Markets Make Opportunity
The bear market has shaped a new generation of protocols based on sustainability and sound economic models. DigiToads is a leader of this new generation. Despite difficult market conditions, it has raised over $5.8 million in pre-sale, indicating that investors are voting on the success of this protocol with their wallets.
The valuation of $TOADS is still very depressed, but this market inefficiency will soon be closed when the ecosystem goes live and all the mechanisms start. The pre-sale offers investors one last chance to secure their place in the TOADS community and join this altcoin gem on their 100X journey.
