Ethereum Staking Reaches New All-Time High: Binance Coin and NuggetRush Clear Path for Massive Rallies
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TLDR:
- Over 25% of all Ether coins have now been locked up, a new all-time high for Ethereum staking.
- Binance Coin (BNB) has moved over the key $350 resistance, preparing it for a bigger price pump.
- The impact gaming model of NuggetRush has made it one of the most sought-after projects in the cryptocurrency ICO phase.
Due to its ability to generate passive revenue for token holders, staking has steadily grown to be one of the most popular trends in the cryptocurrency market. As a result, on-chain data has shown that the number of tokens staked on Ethereum (ETH) has increased to a new all-time high.
In other noteworthy cryptocurrency news, Binance Coin (BNB) has surpassed a significant resistance level, potentially signaling further increases.
Also, with more than 184 million tokens sold during the presale, NuggetRush (NUGX) has been growing at a remarkable pace. Continue reading to learn more.
Ethereum (ETH) Staking Surges To New All-Time High
As of February 14, 30,659,864 million ETH tokens have been locked by Ethereum (ETH) validators on the Beacon Chain, according to data from the on-chain analytics platform Nansen. This represents more than 25% of all ETH tokens and a new ATH in the number of staked ETH tokens.
Etherscan shows an even bigger staking record, at 39,140,039 ETH being locked on the Beacon Chain staking contract.
This increased liquidity into staking coincides with the Ethereum price recovering above $2,800 for the first time since May 2022. This means that an astounding $111 million has been locked on the Ethereum network by validators. With the value continually increasing, there are signs that the top altcoin’s price could increase alongside it in the coming days.
NuggetRush (NUGX) Surpass Sale Milestone, Prepare for Massive Surge
Over the past few weeks, there has been an incredible surge of interest in NuggetRush (NUGX), one of the new DeFi projects looking to transform the GameFi space. Unlike other gaming projects, NuggetRush does not run a closed in-game economy, expanding its utility into the real world thanks to its social impact gaming model.
This gold-mining game rewards players for their achievements within its hyperrealistic virtual world. Players who run successful mining operations can convert their gold and other precious minerals into real cash, gold, and the ERC20 coins of the platform, NUGX. NuggetRush has also decided to set up a fund that will distribute money to artisanal miners in underdeveloped nations, thus the reach of the project. The team behind this innovative DeFi project has announced that the smart contracts will be renounced just after launch to make community members part of the decision-making process.
In the P2E space, NuggetRush’s emphasis on community building has resonated with many gamers. The project is among the top blockchain ICO projects since it has sold over 184 million tokens in record time. Even though NUGX is only worth $0.018 a coin, analysts predict that in the first quarter, its value might increase by 25x.
Binance Coin (BNB) Recovers Above $350, Set for a Rally
For most of 2023, Binance Coin (BNB) underperformed the rest of the crypto market. However, 2024 has brought a major change of trend for BNB. On the weekly chart, the price of Binance Coin has increased above the resistance levels at $350 and $360 for the first time since May 2022.
Trading above these resistance levels sets up Binance Coin for even more gains. BNB has already overtaken Solana as the fourth largest cryptocurrency. However, if it maintains the bullish momentum, it could top the $400 resistance level in the coming weeks.
Closing Thoughts
The cryptocurrency market is heating up, and Ethereum staking surging to a new height highlights the growing interest from investors. While Binance coin remains one of the best altcoins to buy, NuggetRush looks set to yield bigger gains in 2024. This is why it has been one of the most sought-after tokens in the past few weeks.
Visit the NuggetRush Presale Website
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