Crypto whales are the movers and shakers of crypto markets. Given its decentralized nature, they can cause significant price action by acquiring or selling specific tokens. A notable Ethereum whale has liquidated significant holdings even as DigiToads is concluding a successful presale.
Whales are both long-term holders and speculative accounts. Some actions can be indicative of the opinion that a digital asset does not have a significant upside in the foreseeable future. Bitcoin and Ethereum can weather dumping by whales better, but their movement is still noteworthy.
DigiToads has raised over $6.4 million in a significant presale. This margin is indicative of strong investor enthusiasm for a new project. DigiToads is launching on 21st August 2023, even as participants continue to benefit from favorable prices during the presale.
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Ethereum whales exploring alternative assets
Whales are cryptocurrency wallets with significant holdings of crypto. These are the Bitcoin and Ethereum millionaires whose activity can cause the market to rumble. An example is the Winklevoss twins, whose holdings have made them crypto billionaires.
In the cautious market, an Ethereum wallet recently offloaded $15 million worth of ETH. This action was significant because the wallet had been dormant for six years, even though the epic rally of 2021.
The sale sparked discussions among traders and investors. Ethereum is still relatively stable, but this large movement could indicate uncertainty about its ability to rise further. This movement comes even as more investors pick assets like TOADS and LINK as alternatives.
DigiToads has appreciated 400% in its presale
The rise of DigiToads is attributable to its distinction from existing memecoins. This project has the fun aspect of memecoins but offers participants actual utility and a roadmap. Investors can analyze this project long term because it is not purely dependent on cyclic market hype.
As the presale concludes on August 15th, 2023, users can look forward to the launch of the gaming ecosystem on 21st August, 2023. The presale is at its tenth and final stage, with early participants have already made a return on investment of 400%. Next come is the official launch on the main market. TOADS tokens are currently available for $0.05 and will soon rise to $0.055.
The launch price of $0.055 means that tokens will have appreciated 450% at launch. This mark is impressive for a coin only in its presale. Investors are keenly watching for whether this could be the next 1000 x project.
The game itself involves nurturing digital toads in a competitive wetland ecosystem. Players can earn various in-game rewards for their efforts. The icing on the cake is NFT collectibles that allow players to create unique value thereon. Notably, players can stake these NFTs for a share of TOADS transaction fees, creating further utility for the NFTs. Users can start staking NFTs on 21st August 2023 and minting is already possible at https://mint.digitoads.world/
Conclusion
Before Ethereum became a titan in this scene, it was once a new project attracting investor interest. DigiToads occupies the same position even as it looks to change memecoins forever. It is not enough to try and copy the success of Dogecoin. This project is looking to create its own identity and potentially create massive value for early investors.
As crypto investors look for optimism, this project is one of the few providing a silver lining. DigiToads has done exceedingly well in a presale that occurred in a tough market and amid regulatory uncertainty. Crypto whales are now looking at this token and alternatives like ChainLink (LINK) for future gains. It will be fascinating to track its growth after its launch on August 21st, 2023.
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