As the correlation between Bitcoin (BTC) and Ethereum (ETH) weakens, new opportunities arise for alternative cryptocurrencies, such as DigiToads (TOADS), which is currently in its presale phase. This article will discuss the implications of a lower BTC-ETH correlation and how it opens the door for DigiToads to attract investors seeking portfolio diversification.
Exploring the Bitcoin-Ether Correlation
In the cryptocurrency market, many altcoins (cryptocurrencies other than Bitcoin) have historically shown a high correlation with Bitcoin (BTC). This means that when Bitcoin (BTC)’s price increases or decreases, many other cryptocurrencies tend to follow.
Ethereum (ETH), the second-largest cryptocurrency by market cap, also often moves in tandem with Bitcoin (BTC), although it has periods where it decouples and moves independently. The 40-day rolling correlation between Bitcoin (BTC) and Ethereum (ETH) has dropped from 0.95 to 0.82 from the start of 2023 to the present day.
A lower Bitcoin-Ether correlation could be a result of maturing markets, specific news or developments affecting one currency more than the other, or growing differences in the utility and adoption of these two cryptocurrencies.
Periods when the correlation between Bitcoin (BTC) and Ethereum (ETH) has weakened, such as during early 2018, usually result in something known as ‘alt season’ — a period when the top altcoins tend to surge despite Bitcoin (BTC) staying relatively stable.
The DigiToads (TOADS) Opportunity
For those looking to maximize their returns, a lower BTC-ETH correlation is a great opportunity to invest in the best altcoins, such as DigiToads, which has recently launched its new ICO.
No longer will the moves of Bitcoin dictate the performance of altcoins — investors now have the opportunity to bet on coins such as DigiToads which will offer better returns.
DigiToads is revolutionizing the meme coin domain by offering a range of utilities that go beyond mere hype and speculation. DigiToads (TOADS) incorporates play-to-earn (P2E) and staking-to-earn features, which sets this new DeFi project apart from other meme coins.
The centerpiece of DigiToads is an engaging Web3 game where players can buy, train, and nurture TOAD virtual pets to compete in a swamp arena. The most successful players, comprising the top 25% on the leaderboard, can earn 50% of the profits generated from in-game item sales.
Another attractive aspect of the DigiToads ecosystem is the potential for passive income through staking. The platform has set up an NFT staking system where 2% of all TOADS transactions are pooled and distributed as rewards to those who stake their cool NFTs.
It is also worth mentioning that the TOADS token is deflationary due to its burning mechanism. The decreasing circulating supply of the TOADS token means it is an effective hedge against inflation, making it a desirable asset in the current economic climate.
The DigiToads (TOADS) presale already drew over $2.8 million in investments before being listed on an exchange. With discounted tokens and massive prizes up for grabs in the presale, it is clear that many investors already recognize the tremendous potential of DigiToads (TOADS).
Summary
With Ethereum (ETH) no longer relying on Bitcoin (BTC)’s performance, the door has opened for DigiToads to attract investors seeking portfolio diversification. There is now a clear runway for DigiToads to revolutionize the meme coin domain and offer a variety of utilities through its Web3 games, NFT staking system, and deflationary token.
Judging by the success of this presale, investors already recognize this potential and are eager to leverage it. It’s no wonder then that many believe that DigiToads (TOADS) is the new altcoin to watch.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
