In the current crypto market landscape, the winds are blowing favorably for Bitcoin and altcoins. As Bitcoin not only breaks but firmly holds the $30K barrier, a trend typically echoed in the altcoin market, specific DeFi projects show remarkable promise for exponential growth.Â
Among the contenders, six altcoins are making a significant impression with their potential to deliver a 20x return on investment in the coming months. These include DigiToads, GMX, XDC Network, GateToken, Zilliqa, and Cardano. The question remains, however, what underpins this bold prediction explicitly?Â
DigiToads (TOADS)
DigiToads, a burgeoning new DeFi project, has significantly rippled the cryptocurrency market. This unique altcoin stands out with its play-to-earn web3 game, intertwining entertainment and investment, disrupting the conventional narrative surrounding meme coins.Â
DigiToads recently took the market by launching a compelling NFT collection featuring 3500 unique Toads, each with its distinct characteristics. These NFTs can be staked and traded, further bolstering the inherent value and utility of the coin.
What’s unique about DigiToads’ utility is the introduction of VIP Platinum Toads. The project developers will hold on-chain trading competitions monthly, and winners will be awarded these special Toad NFTs. Each Platinum Toad owner then gains access to 1/12th of the treasury, is eligible to trade with it, and gets a 10% share from the profit.Â
This innovative approach boosts users’ reward opportunities and raises TOADS tokens’ trading volume on the network, a critical indicator for its long-term growth.
To add to its allure, DigiToads has demonstrated remarkable financial performance. The project’s presale remarkably garnered over $5.9 million, much to the delight of its early investors, who enjoyed an astounding 370% ROI.Â
With these achievements, the DigiToads community has grown exponentially, and the ecosystem has become more vibrant and lucrative. The DigiToads team, composed of professionals in the gaming and blockchain industries, continuously ensures the platform’s growth by launching new features and improvements. This successful presale and rapid community growth forecast a potentially prosperous future for DigiToads.GMX (GMX)
GMX stands out as a decentralized spot and perpetual exchange platform allowing individuals to trade leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others directly from their respective digital wallets.Â
This enables GMX users to carry out spot swaps and perpetual futures trading with up to 50x leverage, mirroring the functionalities offered by a centralized exchange. The key distinguishing feature here, however, is that GMX users retain complete control of their digital assets through their cryptocurrency wallets.
The GMX token, which functions as a utility and governance token, provides its holders with voting rights on proposals that shape the future of the exchange. Beyond this, GMX token stakers are entitled to a trifecta of rewards.Â
Firstly, a 30% share of all protocol-generated fees is allocated to GMX stakers. The accumulation of these fees arises from market making, swap fees, and leverage trading and is paid out in either ETH or AVAX.
Next, stakers are awarded escrowed GMX (esGMX) tokens. These esGMX tokens offer the option of further staking for rewards or vesting. Vesting allows these tokens to be gradually converted back into GMX over 12 months. This strategy of esGMX emissions effectively represents a form of locked staking designed to guard against inflation and prevent the immediate offloading of GMX.
Finally, stakers receive Multiplier Points, amplifying their yield and rewarding long-term investment without inducing token inflation. This dual incentive system fosters dedication to GMX and propels the platform’s decentralized ownership ideals.
With a maximum supply of just 13.25 million and 8.2 million in circulation, the GMX token exhibits characteristics of scarcity and hyper-deflation. Its highest recorded price so far was $91, achieved on April 18, 2023. At a current price of $56, and given its widespread adoption and utility, GMX seems poised for further record-breaking prices in the future.
XDC Network (XDC)
Next in line is the XDC Network, a hybrid blockchain leveraging a delegated proof-of-stake consensus mechanism and offering a unique proposition. By providing hybrid relay bridges, instant block finality, and interoperability, the XDC Network is innovating how blockchain users operate.
Capitalizing on its consensus method that champions democracy and high levels of transparency, the XDC Network delivers its users rapid transaction processing, digitization, and tokenization capabilities.
The XDC Network targets the global trade and finance sector. It is constructed on a highly secure network, scalable industrial-grade architecture. The XDC Network addresses and mitigates existing challenges within international financing and trading by employing a hybrid design. This mainly benefits financial institutions by enabling instantaneous and real-time settlements via smart contracts.
The XDC Network is powered by its proprietary native token, XDC. As the underlying utility token of the XDC hybrid blockchain, XDC serves as the settlement currency for transactions made within dApps built on the network. This token is readily available for acquisition from many exchange platforms, including KuCoin, Bittrex, Bitrue, Bitfinex, and others.
Notably, the XDC token witnessed a significant surge in value in April, recording an all-time high of $0.045. Despite a slight decrease to its current price of $0.032, given the extensive utility and innovative solutions it offers, XDC holds its position as an impressive penny cryptocurrency that has the potential to surge in the upcoming months.
The GateToken (GT)
Launched by Gate.io in 2018, GateToken serves as a next-generation, high-performance public blockchain with an unwavering commitment to safeguarding the security of users’ on-chain assets. The platform also offers streamlined decentralized transaction services. Its primary objective is establishing a reliable and efficient decentralized digital asset storage, distribution, and trading ecosystem that meets enterprise-level standards.
GateToken’s native asset, GT, forms the backbone of the GateToken mainnet operations. The utility of GT on the platform is varied and extensive:
GT serves to pay for online transfer fees, with GateToken allowing users to send and receive GT and other on-chain assets through their wallets and clients. GT is also the reward token for GateToken’s staking, which incentivizes users to participate in PoS mining and achieve steady returns.Â
Users can also issue their tokens on GateToken to digitize their assets, with GT being used as the primary management tool for these digital assets.
GT further acts as the utility token for Gate.io, with usage scenarios including currency trading, over-the-counter trading, leveraged trading, futures contracts, and various derivative products. GT holders can enjoy various benefits, including VIP-level upgrades, fee deductions, and participation in welfare activities.Â
The GT token hit its all-time high in May 2021 at $11. Despite the price currently standing at $4.3, the continuous development and increased utility of GT on the exchange have sparked optimistic projections for this project’s future.
Zilliqa (ZIL)
Zilliqa is a publicly accessible, permissionless blockchain specifically engineered to deliver high throughput, capable of processing thousands of transactions every second.Â
Its design tackles the persistent challenges of blockchain scalability and speed by incorporating sharding as a secondary layer for scaling. Zilliqa serves as a platform for numerous decentralized applications, and as of October 2020, it has incorporated options for staking and yield farming.
Owing to its unique sharded structure and hybrid consensus mechanism, Zilliqa is the preferred blockchain for developers seeking a robust solution for high-demand enterprises within various sectors, such as financial services, gaming, advertising, and more.Â
Zilliqa’s native token, ZIL, is the engine that drives transactions and smart contract execution on the network. Despite experiencing a notable downturn in 2023, Zilliqa’s network scalability and widespread adoption make ZIL an attractive choice for many investors. Its current price ranges around $0.022, making it an affordable investment option for long-term growth.
Cardano (ADA)
Cardano is a third-generation decentralized open-source, public blockchain platform and cryptocurrency project. Pioneering a unique approach to scaling and securing blockchain systems, Cardano’s underlying technology is driven by rigorous academic research and scientific philosophy, making it stand out among other cryptocurrencies.
At the heart of the Cardano ecosystem is ADA, the native cryptocurrency, named after Ada Lovelace, a 19th-century mathematician recognized as the first computer programmer. Cardano aims to go beyond the capabilities of a typical cryptocurrency. It is designed to operate as both a cryptocurrency and a technological platform that can run daily financial applications by individuals, organizations, and governments worldwide.
ADA is a stake in the Cardano network, allowing users to vote on blockchain protocol changes. The more ADA a user holds the more voting power they possess. It’s also used for sending and receiving digital funds, making direct transfers fast and secure through cryptography.
In the recent week, ADA has performed exceptionally well in the volatile crypto market, maintaining a ‘green’ status in trading. ADA’s current price hovers around $0.029, coupled with its utility and the technology underpinning it, making it one of the penny cryptos with the highest growth potential.
Bottom Line
With so many options available on the market, finding the right fit for yourself is extremely challenging. However, our carefully selected cryptos currently hold the biggest potential to bring positive changes to your portfolio.Â
Therefore, while the prices are still low, and in DigiToads’ case, while it is still in the presale stage, consider these assets as the best crypto coins to invest in now.
Visit DigiToads Presale
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Buy DigiToads NFTs on OpenSea