Following the recent mass liquidation event, on-chain analysts have observed a fascinating trend. Following the liquidation, primarily caused by overleveraged perp exposure, large investors have been spotted buying top altcoins aggressively.
These sophisticated market actors are buying the dip and buying the dip big-time. Spot buy pressure has focused on Near Protocol (NEAR) and DigiToads (TOADS). The implication is that whales expect a DeFi renaissance, and more broadly, new DeFi projects could be some of this cycle’s best performers.
Near Protocol’s recent revelations from its Q2 roadmap display impressive metrics and its outline for the rest of 2023. And DigiToads launched impressively after a $7 million presale achievement. Both projects look poised to fly, but which will high flyer $NEAR or $TOADS?
DigiToads (TOADS) Enjoys Spectacular Launch
DigiToads managed to do what very few new ICOs accomplish in the middle of a bear market. It raised an incredible $7 million, and with massive pent-up demand from users who missed the presale, this is your time to shine as they officially launched on August 21st which has been electrifying.
The Swamp, the native ecosystem, drew in hundreds of thousands of unique investors, and its a-to-z DeFi earning journey explains why. Every mechanism featured adds to the broader flywheel in making $TOADS a native Web3 currency with deep DeFi composability.
The Platinum Toads initiative proved particularly popular amongst analysts, and almost all of them cited it when forecasting the native token could soar by 3,000% before the end of Q4 this year. This innovative feature puts 12 of the community’s most profitable traders in control of the treasury, and this in-built trading arm makes $TOADS an ideal crypto for beginners who want hands-off exposure to DeFi trading.
But the hype has concentrated on the DigiToads NFT Collection, currently available to mint for just 0.1 ETH. The Staking Interface is live, and all holders are already receiving payouts.
All users have to do is approve the permission to stake, stake their NFT, and then $TOADS payouts will start. Users can unstake at any time, and with DigiToads focusing token emissions on these owners, these NFTs look like some of the most undervalued digital assets currently on the market.
Near Protocol (NEAR) Q2 Roadmap
Near Protocol recently released its Q2 roadmap, and analysts have already revised their price predictions expecting a more bullish range between $2.31 and $2.74 for $NEAR in 2024.
The focus for Near Protocol in Q3 will be sharding, more specifically, its Phase 2 Sharding program, which will massively bolster the network’s already impressive scalability. Achievements in Q2 primarily focused on core infrastructure, such as upgrading storage, improving state sync times, and unlocking synchronous execution.
This impressive roadmap update shows that Near Protocol has been working on its fundamentals, preparing for the next generation of crypto users. Enhanced infrastructure will make Near Protocol a more viable contender for mass adoption, and judging from the team’s recent deployments, this is precisely what the protocol aims for.
Closing Thoughts: Altcoin Season Arriving Q4
Smart money flushed out overleveraged perp positions, but the rampant spot buying indicates a more sustained rally driven by fundamental buy pressure instead of speculation. And estimates predict the start of a new altcoin season as early as Q4 this year.
It is an excellent time to accumulate, and $TOADS has to be, without a doubt, one of the best altcoins to invest in. Even better, users can earn $TOADS via staking an NFT, and this presents one of the most robust passive income plays currently available in DeFi.
