The competition among altcoins to attract investor attention has never been this important. In the wake of the crypto market’s crash on Oct. 10 and its inability to stage a sustained rebound, investors have to be more selective with their holdings.
Three names at the forefront vying for investor support are Solana (SOL), Cardano (ADA), and Digitap ($TAP). Solana and Cardano are two of the more blue-chip status and popular layer-1 blockchains, while Digitap is a newer DeFi-centric project bridging crypto and traditional finance.
Solana Near $175 Support — Watch $200 On Strong Volume
Solana climbed from just above $100 in April to break above the key resistance point of around $220 in early September. Many investors had interpreted these gains as confirmation that Solana’s network growth in DeFi, NFTs, and new projects wasn’t sufficiently reflected in its valuation.
Solana is now trading dangerously close to the next support level at $175. If the price falls below this level, it may continue to see selling pressure toward the $150 level. To move higher, Solana would need to clear $200 on strong volume.
In a bullish market, Solana could easily regain the $200 level. According to a study by ARK Invest, Solana generated $223 million in economic value, beating all other blockchains. But, as the saying goes, “the trend is your friend,” and, unfortunately, in Solana’s case, the trend is bearish.
Down 20% over the past month alone, Solana could soon retest at least the $175 support level, and maybe even the $150 level. It is not yet clear if the token could rally, as it would heavily depend on improving market sentiment.
Cardano Tests $0.63 Support As Sellers Keep Control
Cardano, much like Solana, has seen better days. Down 25% in the past month and currently trading at $0.63, Cardano is also trading dangerously close to its next support level. If recent trends hold, Cardano risks testing the $0.50 support in the near term.
A break below $0.63 could push the token all the way back to the next area of support around $0.35. This could be the more likely scenario, as recent attempts to bounce higher have failed. The Cardano chart is full of examples of establishing lower highs and lower lows.
The absence of any strong trading volume during upward movements validates the opposing stance. This implies that any near-term rebound should be considered corrective and not trend-setting.
Meanwhile, Cardano’s rollout of its Hydra Node 1 this month hasn’t renewed investor appetite. The upgrade was designed to provide faster and cheaper transactions across the network. It was also meant to better compete against other layer-1 blockchains, including Solana.
However, investor activity spoke in unison, and recent selling could indicate the path for Cardano is more likely down than up in the near term.
Digitap’s Global Money App Now Live On Google Play
Digitap is an emerging project still in its presale and offers an “omni-bank” Global Money App. This means users can receive, send, save, and invest in both crypto and fiat on a single unified platform.
Following a successful iOS launch, Digitap’s app is now live on the Google Play Store. Inclusion in both major operating systems proves the concept that crypto and fiat can coexist. The banking app also includes a Visa-branded card that is now compatible with Google Pay.
Users can load their wallets with either crypto or fiat and tap their phone to pay for everyday items. This progress could be seen as a major green flag for potential investors, making it one of the few crypto presales with real utility.
3 Drivers For A 50x Case: TAM, Tokenomics, And Execution
Currently in its presale, Digitap’s native token $TAP is selling for $0.0194 in the second round. Digitap confirmed that the third-round price of $0.0268 is scheduled for Wednesday.
Because of Digitap’s low market cap of less than $40 million, many experts see tremendous upside potential for the token over the coming year. Some of the more aggressive forecasts point to a 5,000% rally, or a 50x gain.
This forecast is based on a combination of two factors. First, Digitap targets an enormous market that is ripe for disruption. The global banking system and payment rails are outdated and slow. Capturing even a tiny fraction of that could justify a multi-billion-dollar valuation.
Second, Digitap boasts impressive tokenomics, with 50% of the platform’s profits used to buy back and burn $TAP. This means that the token supply shrinks as usage grows, creating the potential for a significant supply-demand imbalance.
Source: Digitap
$TAP’s Small-Cap Setup Stands Out Versus SOL And ADA
Digitap might stick out when compared to Solana and Cardano based on its size, but this could prove to be a major advantage for investors. Unlike SOL or ADA, which are valued at $101 billion and $22 billion, respectively, Digitap is a small-cap with venture capital-level upside.
$TAP is the only token among the three with a reasonable path to gaining 50x. This sentiment is backed by the fact that Digitap is already delivering on its early promises, most recently launching the app for Android users. Indeed, inclusion in Google’s app store library is a clear catalyst, convincing many experts that $TAP’s story is just beginning.
Digitap is Live NOW. Learn more about their project here:
Presale https://presale.digitap.app
Website: https://digitap.app
Social: https://linktr.ee/digitap.app
