Crypto Market Update: XRP Declines While Digitap ($TAP) Reports 160% Presale Increase

The ongoing crypto bear market has affected many large-cap assets. Ripple’s XRP slipped another 2%, contributing to a 15% decline over the past month and approximately a 30% decline over the past three months.

Amid broader market declines, one crypto startup project has shown contrasting price movement. Digitap ($TAP), a project describing itself as an ‘omni-bank,’ reports an approximate 160% price increase since its presale launch in late summer. Based on recent performance, relatively few large-cap assets have seen higher returns over the past 90 days; however, this does not indicate investment suitability.

Understanding Digitap’s Utility and Product Features

Digitap is developing an app that combines elements of traditional banking with cryptocurrency features. Users can open multiple offshore IBAN fiat accounts and transact with more than 100 cryptocurrencies. Features include sending, receiving, storing, saving, and investing in both fiat and crypto.

Digitap states that it aims to compete within the financial technology sector. The project claims to focus on improving transaction speed and reducing costs compared with traditional providers. It delivers on multiple fronts. The project states that its peer-to-peer system is designed to complete transfers more quickly and at lower estimated costs, though actual performance may vary.

Digitap recently announced a partnership involving Visa-branded prepaid debit card features. The project states that users will be able to preload the card with fiat or crypto for use in locations where Visa cards are accepted.

According to the project, thousands of users have interacted with the app, despite it being a small crypto startup project. The project reports early user adoption and community feedback. Investors can see and touch what they’re buying into, which builds trust. This information forms part of the project’s stated value proposition.

$TAP Presale Reports 160% Price Increase Ahead of Black Friday Event

The presale of Digitap’s $TAP token has continued despite broader market declines. The project reports ongoing activity, though broader investor motivations cannot be confirmed.

Investors are looking for compelling projects that trade at rock-bottom prices but offer a fresh narrative that the investment community has yet to fully discover. Digitap positions itself within this category, reporting more than $2 million raised through a tiered presale structure.

The presale is divided into stages with the price of $TAP increasing once each round sells out. The first round listed $TAP for sale at $0.0125, and it has gradually risen to $0.0326, representing an approximate 160% price increase from the initial round. However, the current round is more than 90% sold out, meaning investors won’t have much time to react before the price increases to $0.0334.

Digitap is hosting a Black Friday promotional campaign. While most crypto teams are complaining about poor market conditions and disappointing fundraising, Digitap is leveraging its recent momentum with a 96-hour interactive promo event. Starting this Friday, a new flash deal drops on the Digitap presale site every hour.

Each deal is live for just 60 minutes, then it’s gone forever. Investors can take advantage of bonus tokens, discounts on platform fees, free credits, and much more. The project states that the event includes promotional rewards totaling more than $1 million, The project presents the promotion as an interactive event accompanying its presale activities.

XRP Price Nears $2 as Large Holders Reduce Positions

XRP’s price came crashing below the critical support level of $2 before rebounding to around $2.20. However, investors weren’t interested in buying at that price, and the price has slipped back near the $2 level.

During this brief rebound, data shows whales were heavy sellers. According to Santiment data, whales sold more than 180 million XRP during the brief rally. Investors appear to be uninterested in the latest developments, even if they are positive. Most notably, multiple XRP ETFs are scheduled to launch, including Grayscale’s ETF that goes live on Monday.

The investment narrative for XRP to be one of the best altcoins to buy has diminished even before the onset of the bear market. Ripple has been on a buying spree this year, spending more than $2.4 billion to snap up firms like prime broker Hidden Road, treasury platform GTreasury, stablecoin infrastructure provider Rail, and wallet/custody firm Palisade.

These acquisitions were meant to strengthen Ripple’s corporate footprint and market opportunity. However, the investment community has decided otherwise, leading to a growing sense the acquisitions either solely benefit Ripple and not XRP, or they don’t improve the XRP investment case. Either way, investors have effectively “given up” on treating new announcements as bullish catalysts.

Digitap Reports Presale Growth While XRP Experiences Continued Volatility

What savvy investors look for during bear markets are crypto presale projects that not only survive the crypto winter but thrive in it. The project’s presale performance has drawn attention among some market observers. Digitap is swimming against the current, delivering early investors a 160% paper profit.

XRP, on the other hand, looks to be stuck in a downward trend. Even as multiple XRP ETFs approach launch, the token’s price keeps slipping back toward the $2 level. But Digitap’s narrative is more than its recent presale performance. The project states that it has released an early version of its product, and reports substantial price appreciation since the start of the presale, and kept excitement high with creative events and community-building exercises.

In an environment where capital is scarce and patience is limited, some users continue to express interest in utility-focused presale projects. The path from real-world utility to potential upside is much easier to understand than multiple billion-dollar acquisitions across different verticals.

Disclaimer

Please be advised that all information, including our ratings, advices and reviews, is for educational purposes only. Crypto investing carries high risks, and CryptoNinjas is not responsible for any losses incurred. Always do your own research and determine your risk tolerance level; it will help you make informed trading decisions.

Crypto Market Update: XRP Declines While Digitap ($TAP) Reports 160% Presale Increase