Bitcoin Blasts Past $34,000, Litecoin and NuggetRush Attract Investors
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- Bitcoin (BTC) soared above $34,000 for the first time in weeks due to excitement around Spot ETFs.
- Litecoin’s (LTC) performance has worsened following its halving event in early August.
- NuggetRush’s (NUGX) upcoming launch dominates headlines as investors anticipate 100% returns.
The crypto market seems to be finally exiting the crypto winter. Last week, Bitcoin’s trading activity rose as BTC surpassed the $34,000 mark. That rally could rub off on Litecoin whose LTC token has continued to dip for months following its halving event. Now, analysts are sure that Bitcoin’s (BTC) challenger will be NuggetRush (NUGX) – an Ethereum-based play-to-earn mining game. Will NUGX join the top crypto coins of 2023? Let’s discuss.
Excitement Around Spot ETFs Propels The Bitcoin (BTC) Price
Bitcoin (BTC) Spot ETFs have dominated news headlines as pressure grows on the SEC to approve them. On September 26, 2023, the US House Financial Services Committee urged the Securities and Exchange Commission to approve ETF applications.
This excitement around Bitcoin Spot ETFs caused a sharp rally that pushed BTC above the $34,000 mark. BTC was trading at $27,983 on October 1. By October 23, BTC jumped by 18.2%, closing at $33,086.
Spot Bitcoin (BTC) ETFs could boost institutional adoption of digital currencies. However, analysts say the SEC’s body language on Spot Bitcoin (BTC) ETFs shows hesitancy. The agency has already complained of inadequate protection mechanisms against price manipulations.
Meanwhile, analysts expect an approval of Spot Bitcoin ETFs to push BTC to $35,598.
Litecoin’s (LTC) Market Performance Worsens After The Halving Event
On August 2, Litecoin halved its block mining rewards from 12.5 LTC to 6.25 LTC. Many analysts feared that the reduction in mining rewards might lead to a fall in Litecoin’s mining activity. They also feared a subsequent market dip.
Litecoin’s (LTC) market performance hasn’t improved despite its recent partnerships in the payment sector. Furthermore, LItecoin has reached new milestones in its transaction count in 2023. Still, LTC’s market movements have been stagnant.
Despite completing its halving event in early-August, Litecoin’s market performance has dipped considerably in the past few months.
LTC was trading at $87.49 on August 2 following the completion of Litecoin’s halving event. Yet, subsequent crashes in August and September led LTC to drop by 21.1% to $68.99 by October 23.
Yet, analysts say that if Litecoin’s network activity remains high, LTC could rise by 9.3% to $75.43.
NuggetRush’s (NUGX) Presale Excites Community with 100% Growth
NuggetRush (NUGX) is the perfect game for users who love to challenge their decision-making and resource-management skills. At the start of the game, players get a small mining plot and simple tools. As they progress, players expand their mining operations while collecting better machinery.
Built on Ethereum, NuggetRush (NUGX) is a mining experience that offers thrilling quests, challenges, and opportunities to win valuable rewards. Interestingly, users can explore new territories and collaborate with other gamers.
Right now, NUGX costs $0.010. However, its value will grow by 20% to reach $0.012 when NuggetRush enters Stage 2 of its presale. Moreover, purchasing NUGX tokens now will lead to 100% growth when the project launches and NUGX rises to $0.020. Such growth makes NUGX a good crypto to buy now.
As NuggetRush prepares to launch its gaming ecosystem, it has already begun a blockchain ICO.
Along the way, players find and use valuable character NFTs and machinery or sell them on NuggetRush’s marketplace. Character NFTs come with various attributes. For instance, some character NFTs offer higher mining skills while others offer high business acumen.
Check out NuggetRush’s site for more info on this exciting project!