2024-1-24 16:00 |
The volatility in the crypto market is on the rise as the largest cryptocurrency, Bitcoin (BTC), continues to bleed red on the charts. Investor sentiment post BTC ETF (exchange-traded fund) has left the “neutral” phase and entered the “greed” phase after the token fell below $41,000, hitting its lowest point in 2024. Bitcoin’s market value is under pressure as investors remain unsure whether the bulls or bears will take the chart.
The news is not entirely bearish, as altcoins thrive on the blockchain despite Bitcoin’s decline. Two tokens, Solana (SOL) and NuggetRush (NUGX), are drawing investor attention as they thread paths that point to a significant growth trajectory. The Solana ecosystem thrives as several developments and innovations occur, pushing its native token to prominence.
NuggetRush merges GameFi and Impact Gaming, delivering impressive utility with memetic appeal. The article explores Bitcoin’s price movement while highlighting the features that put Solana and NuggetRush in the limelight.
NuggetRush (NUGX): P2E gaming with real world utilityOn the list of the top altcoins to watch is NuggetRush, a futuristic meme coin with impressive features.
With its innovative and fun approach to investments that combine the power of gaming with a real-world impact, this token is set to revolutionize the crypto market. This top ICO offers a play-to-earn (P2E) game, allowing players to use artisanal mining within its metaverse to earn incredible rewards. It promises a rewarding experience backed by NFTs that double as game characters and digital assets.
NuggetRush offers a community-owned game that promotes impact gaming, contributing to the betterment of artisanal miners in underdeveloped countries. Investors are intrigued by the possibility of exchanging their RUSHGEM NFTs for real gold and cash delivered to their doorsteps.
Investors who join the RUSH guild can also participate in governance on the platform while enjoying exclusive rewards. The top ICO also offers a staking protocol where players and users stake their NFTs to earn up to 20% APY.
The project’s native coin, NUGX, is undergoing a five-round presale, with four rounds already completed. Over $1.8 million has been realized from selling nearly 160 million tokens, its soft cap.
Each round has a specific number of allocated tokens and a market value, and round 5 sells at 0.018 USDT with only about 25% of the 55 million allocated tokens remaining.
The round is selling out fast and NuggetRush is poised to hit its hard cap of 215 million tokens. This brings NUGX closer to its launch on the decentralized cryptocurrency list for 0.020 USDT apiece, which represents a 100% increase from its round 1 price of 0.010 USDT.
Bitcoin (BTC): More bearish predictions post ETFSkepticism is rising among Bitcoin investors as the coin experiences volatile price movements. The token faces negative investor sentiment post BTC ETF approval, dropping by about 13% since its spot ETFs began trading. While over 68,000 Bitcoins have been added by the new spot ETF issuers in just one week of trading, Grayscale Bitcoin Trust (GBTC) has shed about 40,000 BTC, amounting to about $1.5 billion in outflows.
Analysts at JPMorgan, a multinational financial services firm, have predicted up to $3 billion in outflows from GBTC following its conversion into a spot BTC ETF product. These outflows are likely due to investors taking early profits to realize substantial returns following the conversion.
If their predictions hold, with about half the supposed amount of outflows already exited, Bitcoin prices could face even more pressure in the coming weeks.
Solana (SOL): Leading innovations on the blockchainSolana is topping the list of altcoins to watch as the bull run draws closer. The token has gained recognition since the last quarter of 2023 and continues to outperform other altcoins. SOL has been predicted to outdo Ethereum (ETH) by up to 5x in the current bull run, as mentioned in an X post from Negentropic, an account run by Glassnode co-founders Jan Happel and Yann Allemann.
Solana has recently acquired backing from Franklin Templeton, a venerable asset management firm, and other institutional investors. The visionary goals set by the project’s co-founder, Anatoly Yakovenko, and cutting-edge advancements within its ecosystem, such as innovations in non-fungible tokens (NFTs), meme coins, DeFi, DePIN, and Firedancer, have put it in the spotlight.
SOL is predicted to have a substantial surge, as is seen from the massive pre-order of its new Web3 smartphone edition, which exceeded 25,000 units within 24 hours, compared to about 2,500 units sold in its first launch.
ConclusionBitcoin prices remain volatile as the market feels the effects of the spot ETF decision. Amid its declining prices, analysts predict a potential long in the long term.
Altcoins on the decentralized cryptocurrency list continue to attract investors with their impressive offerings. NuggetRush and Solana are topping the list, providing the needed innovations to bolster the blockchain. Investors seeking substantial returns can acquire NUGX tokens at discounted rates.
For all things NUGX you can visit NuggetRush presale website.
The post Bitcoin hits 2024 low, plunging below $41k as altcoins take the limelight appeared first on Invezz
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