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The post Analysts Predict 60% Chance of SEC Approving Ethereum ETFs in May; Ripple’s XRP Ledger and NuggetRush Hits New Milestone appeared first on Coinpedia Fintech News
TLDR:
- NuggetRush presale has sold out over 167 Million tokens.
- Experts project a 60% chance of the SEC approving Ethereum ETFs by May.
- XRP Ledger has reached 5.02M wallets.
Experts have predicted a 60% chance that the US SEC might approve Ethereum ETFs by May. In other news, Ripple’s XRP Ledger has hit a new high with over 5.02 million wallets. Additionally, the cryptocurrency ICO of NuggetRush (NUGX) has been a great success, selling over 167 million tokens in record time.
NuggetRush (NUGX) Sells Over 166 Million NUGX Tokens
NuggetRush (NUGX) has gotten a lot of adoption in the GameFi space over its unique gaming model. After announcing its blockchain ICO a few weeks ago, more than 167 million NUGX tokens were sold. A unique platform, NuggetRush combines cryptocurrency mining, games, entrepreneurship, and social effects.
In the NuggetRush virtual environment, users can collaborate to create and run profitable mining enterprises. To locate gold and other precious stones, NuggetRush users can form mining groups and engage in turf competitions and tournaments.
The purpose of forming mining groups is to improve the performance and efficiency of operations. Other operations include the construction of mining cavities, surveying areas, and boring holes in search of gold.
Both resources and in-game collectibles can be traded for cash on the platform, ensuring that this does count as one of the best DeFi projects. NuggetRush works on the ERC20 token, NUGX. This token grants holders power to the in-game exclusive assets and governance of the project.
The price of the token stands at $0.018, which is approximately 80% higher than where it was first listed for only $0.010. Market analysts predict a 500% in the token’s valuation after its launch in the first quarter, making it the best cryptocurrency investment now.
Analysts Place Ethereum (ETH) ETF Chances of Approval At 60%
Spot Ethereum (ETH) ETFs have become top news in the crypto sector, with analysts and enthusiasts weighing in on the discussion. James Seyffart of Bloomberg Intelligence is among the analysts who are bullish about approval.
Seyffart projected that the probability of Ethereum ETF approval in May is 60%. Also, the Bloomberg analyst highlighted May 23rd as a major date for Ethereum ETF.
Furthermore, he set a 240-day window for the SEC to consider proposals from giants like VanEck and Ark/21Shares. A green light from the regulator on May 23rd could pave the way for more approvals.
Other key players that have filed for a spot in Ethereum ETF include Grayscale, Ark 21Shares, BlackRock, and VanEck. With a potential approval of Ethereum ETFs on the way, analysts are bullish on the altcoin price reaching $5,000 in 2024.
Ripple (XRP) XRP Ledger Hits 5.02M Wallets
In terms of active wallet addresses, Ripple’s (XRP) XRP Ledger has made another historical breakthrough. The XRP Ledger, Santiment estimates, now has 5.02 million wallets with more than zero XRP.
This is Ripple’s best of at least a decade, which suggests an increasing adoption of the top altcoin. Santiment also reported that the number of people who hold XRP has increased by 2x since February 10th, 2021 and tripled since May 29th, 2019.
This rapid increase in Ripple adoption is a clear indication that it remains one of the top crypto coins. Unfortunately, even an increase in active addresses has not translated into the anticipated bullish market for the Ripple coin.
CoinMarketCap reveals that altcoin price has ranged between $0.4994 – $0.5387 in the past week. This is way below its highest point of $3.84, which it recorded in January 2018.
Conclusion
The approval of an Ethereum ETF can spark a huge price rally in the crypto market, which would affect the best altcoins like NuggetRush. This makes the NuggetRush project a worthy addition to your portfolio. Besides, it is one of the cheapest coins in the market.
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