Are altcoins overvalued, or is the current rally the beginning of a new bull market? One crypto bear predicts significant drops in Polygon (MATIC) and Chainlink (LINK) based on the incoming sell pressure from Celsius liquidating all its altcoins into $BTC and $ETH.
However, DeFi-native projects completely ignore this prediction and continue soaring. The altcoins to buy now are definitely new DeFi projects, and DigiToads (TOADS) provides an excellent example of this new generation of ERC20 coins, with TOADS poised to join the top 100 cryptos in 2023.
DigiToads (TOADS) Journey to the Top
DigiToads has launched onto the scene with a barrage of innovative protocol mechanics and rapidly raised $5.8 million in its presale. Showing that investors expect that toad-themed ecosystem to leap upwards in the next five months.
The Swamp (the DigiToads ecosystem) introduces a Toad-Cade, a play-to-earn game where the top-ranked players earn a portion of the prize pool each season. This allows gamers to turn their skills into real cash.Additionally, DigiToads features airdrops and deflationary tokenomics, allowing all community members to accrue value. This hold-and-earn strategy makes this low-cap altcoin a perfect crypto for beginners.
These investors will also benefit from DigiToads’ aggressive treasury management methodology, which extracts value from DeFi and gives it to $TOADS holders via the Platinum Toads initiative. This novel mechanism puts the best community traders in charge of part of the treasury and lets them freely trade with it. They keep 10%, and the DigiToads coffers snowball.
This asset management style method hard-built into the protocol has led analysts to forecast a staggering 4,000% rally for $TOADS. And their forecasts place this nascent gem joining the top 100 ranked cryptos within five months.
Polygon (MATIC) Bearish Sell Pressure
The news that Celsius will sell over 90 million $MATIC tokens has led a crypto bear to forecast a significant drop in Polygon’s (MATIC) valuation. This wall of sell pressure understandably will put the $MATIC token under some pressure, but the forecast seems relatively shortsighted.
Polygon (MATIC) has become a front runner in the layer two race, especially regarding zero-knowledge rollups. The news that it will convert the Polygon (MATIC) Proof of Stake sidechain into a zkEVM chain means all the economic activity will suddenly enter the Polygon 2.0 ecosystem.
Analysts remain cautious and, though generally disposed towards a positive long-term view, cannot ignore the selling pressure from Celsius and the increasingly tricky regulatory position $MATIC finds itself in. They forecast a range between $1.16 and $1.35 for Polygon (MATIC) in 2024.
Chainlink (LINK) Great Service Poor Tokenomics?
Chainlink (LINK) is an integral part of DeFi, a protocol that works inside that often goes unnoticed. The basic application of Chainlink’s (LINK) oracles provides price feeds, which in turn allow for liquidations, and the project provides excellent utility to DeFi and beyond.
Chainlink (LINK) can import real-world data to smart contracts, and with the growth of DeFi, it seems natural to assume that $LINK would be an excellent buy. Still, analysts are not too sure. Their price predictions put $LINK trading between $10.90 and $12.82 in 2024.
The introduction of Chainlink (LINK) staking provided a much-needed utility boost for $LINK, now used as collateral by nodes that report data. However, despite the excellence of Chainlink (LINK) services, the token has never flourished due to poor tokenomics.
Closing Thoughts: Smaller-Cap Altcoins Are In
Over the next five months, the top altcoins to own are smaller caps, specifically projects native to DeFi. DigiToads provides a glaring example of this thesis, and early investors need to strap up because $TOADS is on a one-way track straight to the moon.
A new up-and-coming generation of altcoins looks to challenge the status quo, and given they have no investors holding at significant losses, they will be able to shoot upwards in price. More prominent altcoins from the last cycle have vast amounts of investors who bought close to the top, waiting to sell to break even. This difference in the constitution of holders will show in the coming months. DigiToads impressive presale figures and its holder base, all aiming upwards, set the stage for an incredible rally.
