Times are changing. Institutional investors have gone from calling crypto a scam to wading into the space. A race amongst money managers to get a Bitcoin Spot ETF approved has ignited crypto markets, and the total crypto market cap rose to $1.25 trillion. Observers are watching these five coins expecting a significant breakout: DigiToads (TOADS), Fantom (FTM), Arbtirum (ARB), Polkadot (DOT), and Optimism (OP).
DigiToads (TOADS) Eyes 1,200% Rally
DigiToads comes in at number one, and this nascent DeFi protocol has rapidly become one of the altcoins to watch after raising an impressive $5.7 million in its presale and counting. DigiToads has been designed as the perfect protocol for beginners to participate, play, and earn within one self-contained ecosystem.
The Swamp (the DigiToads ecosystem) ensures consistent payments to all TOADS holders via airdrops, seasonal prize pools, and even NFT staking. Allowing the entire community to grow and earn together.
A Toad Tax must be paid to enter and leave The Swamp. A portion of this tax funds the NFT staking payout pool, and smart contracts automatically burn 2% of each transaction to introduce scarcity to $TOADS. This deflationary angle puts upwards pressure on the $TOADS price over time and should lead the token to stand shoulder-to-shoulder with top altcoins.
The play-to-earn game, the NFT staking pool, and the native DEX all provide earning possibilities to users. And with each part generating revenue for the larger whole, DigiToads has provided other top DeFi projects with a masterclass in what it means to build a successful flywheel.
Analysts have already forecast an incoming 1,200% surge, and TOADS will enjoy another rally when it launches on major centralized exchanges.
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Fantom (FTM) Improves Decentralization
Fantom (FTM) was undoubtedly one of the best altcoins to hold throughout 2020/2021 as this ultra-scalable layer one became the hotbed of all innovative DeFi activity. However, alternative layers ones retraced hardest during the bear market, and Fantom (FTM) was no exception.
But this decline is exactly why analysts remain bullish on Fantom (FTM), seeing the native token and ecosystem as a pocket of underappreciated value. Forecasts see $FTM trading between $0.81 and $0.98 in 2024, and the move to decrease the minimum validator stake should bolster buy pressure.
Arbitrum (ARB) Gains Native $USDC
Arbitrum (ARB) has made it clear that it is the top layer two scaling Ethereum (ETH). The optimistic rollup has already eclipsed the main chain in terms of transaction volume, and the recent implementation of native $USDC could see a colossal amount of liquidity leave Ethereum (ETH) in favor of Arbtirum (ARB).
Abritrum (ARB) remains heavily undervalued, comparing its current market cap to alternative layers ones that have significantly lower economic activity. Several analysts even commented that Arbitrum (ARB) should become a top ten project in the next cycle, forecasting a range high of $2.40 for $ARB in 2024.
Polkadot (DOT): The Interoperability King
Polkadot (DOT) represents a sleeping giant, and the team behind this layer zero protocol has kept their heads down throughout the bear market and focused on building. Each Polkadot (DOT) parachain auction adds a new parachain to the ecosystem, increasing the potential use cases of all the existing specialized blockchains.
Analysts forecast a resounding target high of $15.97 for $DOT, validating this prediction by stating the importance of interoperability and the technical skill of Gavid Woods.
Optimism (OP) Launches OP Superchain
Optimism (OP) may not be first in the layer two scaling race, but it is certainly not far behind Arbitrum (ARB) and may have already overtaken it judged by more generalist metrics.
The Bedrock upgrade took place in early June, making Optimism (OP) faster, cheaper, and more secure. Crucially it introduced the foundation for the OP Stack. This technology blueprint will allow developer teams to create modular code blocks that can be blended to develop adaptable layer twos. Analysts expect this to be a tremendous long-term tailwind for Optimism (OP) and forecast a range between $2.21 and $2.74 for $OP in 2024.
Closing Thoughts: Capital Flows Toward Altcoins
Money always moves in the same way as markets grow increasingly bold. Capital stored in stablecoins rotates into $BTC, then into $ETH, and then investors start buying larger-cap ERC20 coins. Finally, money cascades into smaller-cap altcoins.
Smart investors have already started allocating their portfolios accordingly. Buying undervalued small-cap gems like DigiToads before the entire market arrives is how people make 100X investments. Don’t miss the journey, act before the rest, and participate in the DigiToads presale today.
