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ARTICLE AD BOX
The post Amidst Modest Price Movements in ADA and XRP, The Investment Community Looks to NuggetRush for Substantial Returns appeared first on Coinpedia Fintech News
TLDR
- Cardano’s (ADA) network activity has risen since late January.
- The Securities and Exchange Commission (SEC) has scored a major win against Ripple Labs in its ongoing lawsuit.
- NuggetRush (NUGX) is eliciting debates about its growth potential after returning 80% interest to its earliest buyers.
Cardano’s network activity could rise following the network outage on Solana. Ripple Labs will submit XRP sale documents to the SEC following a new court order.
However, all attention is on NuggetRush (NUGX) as its long-awaited token listing approaches. The mining game’s presale has sold over 170 million tokens, indicating massive interest in its network. Yet, can NUGX beat other top DeFi projects in the crypto industry? Let’s discuss.
Cardano Network Activity Rises Amid Commotion Around Solana
Data from Artemis has shown a significant increase in Cardano’s network activity in the final week of January 2024. Daily active addresses on Cardano (ADA) jumped by 14,000. The number of new wallets on Cardano (ADA) rose by 5,500 between January 28 to February 4.
The reports indicate growing developer activity amid Cardano’s (ADA) market decline. ADA traded at $0.6231 on January 1. By January 20, ADA had fallen by 17.3% to $0.515. ADA’s decline continued as it dropped by 9.4% to $0.4665 on January 25. ADA then recovered by 5.7% to $0.4933 on February 5.
Cardano (ADA) could get increased network activity following the outage on Solana. In the early hours of February 6, 2024, Solana suffered a major network outage. Analysts fear the disruption could push developers to altcoins like Cardano. If Cardano’s network activity rises, ADA could pump by 19.7% to $0.5905.
Court Orders Ripple Labs to Submit Requested Documents to SEC
On February 5, 2024, a US Judge ordered Ripple Labs to submit all documents requested by the Securities and Exchange Commission (SEC). These documents have been the subject of contention in XRP’s ongoing lawsuit to determine its financial status. The news comes amid XRP’s free fall since the start of 2024.
XRP traded at $0.6254 on January 2. Bearish sentiments around its ongoing court case pushed XRP down by 11.7% to $0.5519 on January 18. XRP remained bearish till the end of January, falling by 8.2% to $0.5062 by February 5.
The SEC’s court victory now grants it access to more documents, which could help the agency build a stronger case. Some analysts say an XRP victory is less likely following the court’s decision. Others claim that the only way out is a settlement with the option of a fine. Whatever the case, XRP could fall by 12.0% to $0.4454 due to bearish sentiments around the token.
Analysts Excited Over NuggetRush’s Market Potential After 80% Value Increase.
NuggetRush (NUGX) is a mining game that was designed specially to bring back the love for play-to-earn networks. Despite the recent growth in their adoption, many play-to-earn networks are quickly losing appeal in the gaming community. NuggetRush (NUGX) aims to be the game changer with its real-world utilities and opportunities to stack gold rewards.
The game leverages modern-day gaming dynamics in producing a unique 3D mining experience. You get to assume the role of a mining entrepreneur, setting up operations and selling excavated resources. The game supports a whole economy for miners in its ecosystem.
You can purchase assets from other gamers. Furthermore, you can also improve your mining operations by purchasing upgraded assets from other players.
NuggetRush (NUGX) aims to be a big player in the gaming industry. Many analysts say its reward-earning opportunities will pull gamers from other play-to-earn networks. The opportunity to earn from NFT staking could help NuggetRush (NUGX) challenge the dominance of the most popular NFT networks.
NuggetRush (NUGX) is now inviting gamers to join its community as early supporters. Many investors have heeded that call, purchasing 170 million tokens in its blockchain ICO. Some investors have watched NUGX’s increase from its presale launch price of $0.010 to its round five value of $0.018. This 80% boost increased HODL sentiments around NUGX as its token launch approaches.
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