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10 months ago
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ARTICLE AD BOX
The post Can Ripple (XRP) Surge Like Bitcoin (BTC) In 2024? Market Activity Increases For Newcomer appeared first on Coinpedia Fintech News
TLDR
- Bitcoin’s price trades above $52,000, marking about 19% weekly.
- Ripple is gaining momentum by acquiring new assets and benefitting from the digital market boom.
- NuggetRush has sold over 184 million tokens and raised over $2.2 million in early funding.
As Bitcoin’s (BTC) value increases, it ripples a positive sentiment to other cryptocurrencies, creating a market boom. Most digital market headlines deal with Bitcoin’s recent bull trend, and specific cryptos are observed to see if they can match BTC’s surge this year. From TradingView data, Bitcoin has climbed nearly 19% over the last seven days; Ripple (XRP), for instance, has gained about 7% in that same 7-day period.
Another decentralized finance (DeFi) project, NuggetRush (NUGX), has seen increased transactional activities on its platform, adding to the viral success of its presale in five rounds. This meme project offers an innovative impact gaming model, a non-fungible token (NFT) marketplace, and real-time earnings. Let’s discuss NuggetRush’s increasing market activity while exploring whether Ripple can surge like Bitcoin in 2024.
NuggetRush (NUGX) Sees A Rise In Transactions
NuggetRush has been on investors’ radar because of the enticing features baked into the DeFi project. It features a play-to-earn (P2E) game where players are tasked with exploring and mining for precious minerals. As these mined nuggets can be exchanged for real cash, amongst other rewarding opportunities, there has been a rush to its top ICO, inducing an impressive sale of over 184 million tokens across five rounds.
Large investors have shown confidence and trust in this top ICO, increasing its value. NUGX is up 80% from its initial DeFi coin price. According to its exchange listings, the token’s price will soon increase by 11%, going from $0.018 to $0.020. Thanks to the high demand for NUGX, the presale event has raised over $2.2 million in funding.
NuggetRush has two collections of NFTs to buy for gamers and NFT enthusiasts, respectively. The gaming characters serve as collectibles for the first collection. Holders can trade these NFTs on the NFT marketplace to earn. The unique RUSHGEMS collection is the second one, having NFTs that can earn real gold for holders. In addition to an NFT staking feature that offers up to 20% APY (annual percentage yield), these tokenized assets are the best NFTs to buy for real-world miners.
Bitcoin (BTC) Bull Run Continues
So far, Bitcoin has had a phenomenal year, as the price is currently trading above $52,000, up by about 19% in the past week alone, while its yearly gains stand at around 138%. The reasons for this surge are likely multifold. First, earlier in January, the United States Securities and Exchange Commission (SEC) approved the listing of spot BTC exchange-traded funds (ETFs) – something that many companies have been trying to pass for over seven years.
Also, 2024 will see the coveted Bitcoin halving happen in April. This event will effectively decrease BTC’s supply to sell by miners by 50% and halve its inflation. Halvings have always been a precursor to bull runs. Data from CoinGecko shows that BTC needs to increase by roughly 23% to reach its previous ATH (all-time high), and many wonder if it could exceed it in 2024 if this momentum continues.
Ripple (XRP) Acquires Digital Assets Custodian
Ripple is gaining momentum by acquiring new assets, for instance, the earlier purchase of the crypto custody company Metaco and the latest purchase of Standard Custody & Trust Co. Last year, Ripple enjoyed a legal victory against the SEC, a win that legitimized the token.Ripple’s portfolio is growing, and it now has its hands in more of the crypto market than ever.
The XRP network is working hard to comply with regulatory requirements and acquire new digital assets and partners to strengthen its business and functionality prospects.
The coin is a long way from its ATH of $3.84 and is down overall for the last 30 days, but the recent market boom due to Bitcoin’s influence seems to have partly helped propel it along a bullish line in the past week. The speculation of XRP surging like Bitcoin in 2024 is possible if it continues to develop and stay near the top of the market in the coming months.
Conclusion
Bitcoin has been trading impressively recently, prompting the question of whether Ripple could follow suit this year. Ripple network still thrives to comply with regulatory requirements amidst its acquisitions of digital asset custodians. NuggetRush has garnered attention for its popular NFT market features, which convert virtual rewards into tangible ones. This project promises constant profits through its play-to-earn game and Web3 features, and the rush to its presale, which will conclude in less than ten days, is still on the rise.
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