Bitcoin

Ethereum and Cardano register gains; analysts’ focus shifts to NUGX token

Ethereum and Cardano remain stable and show growth in the crypto market downturn. NuggetRush token emerges as a promising altcoin with play-to-earn gaming features. Cardano prioritizes security and scalability for smart contracts, while Ethereum faces technical challenges but maintains its commitment to decentralization. Amidst a recent downturn in the cryptocurrency market, Ethereum (ETH) and Cardano…

Ethereum and Cardano remain stable and show growth in the crypto market downturn.
NuggetRush token emerges as a promising altcoin with play-to-earn gaming features.
Cardano prioritizes security and scalability for smart contracts, while Ethereum faces technical challenges but maintains its commitment to decentralization.

Amidst a recent downturn in the cryptocurrency market, Ethereum (ETH) and Cardano (ADA) have demonstrated signs of steadiness, as both assets have seen remarkable increases in value. At the same time, some analysts are shifting their attention to NuggetRush (NUGX), assessing its potential to become the next altcoin sensation. This digital asset offers innovative features and potential for growth in the crypto community.

NuggetRush is among the bullish altcoins incorporating a play-to-earn (P2E) gaming design, allowing participants to earn tangible assets as prizes. Its innovative offerings strive to foster an engaging gaming atmosphere, attracting investors and gaming enthusiasts alike. The blockchain ICO presale is gaining momentum and piquing crypto investors’ interest.

This article explores why Ethereum and Cardano show remarkable gains as analysts eye NUGX tokens as the next altcoin sensations.

NuggetRush (NUGX): decentralized GameFi exploration and real-world rewards

NuggetRush is a new DeFi project fostering a vibrant community within a flourishing digital ecosystem focused on GameFi exploration. Operating on the Ethereum blockchain, NuggetRush prioritizes broad user accessibility. NUGX captures attention through blending exploration, strategic thinking, and tangible real-world benefits. Analysts suggest it may be one of the bullish altcoins poised for significant gains this year.

The platform presents diverse avenues for gamers to accumulate rewards, including acquiring unique character NFTs, earning RUSHGEMS, and trading in-game assets. NuggetRush differentiates itself from typical meme coins by enabling players to trade their in-game earnings outside the platform’s ecosystem. This new DeFi project has also established a player-driven marketplace for character NFTs and other exclusive items. This enriches the platform’s economy and empowers users to exchange and sell virtual assets.

NuggetRush has already garnered immense support, with over 271 million tokens sold and more than $3.75 million raised. Some industry analysts are predicting that once NUGX is listed on major exchanges, its price could experience a significant surge, potentially reaching $0.020. This anticipated price increase could position NUGX as one of the best crypto investment options right now.

The NuggetRush vesting system presents an appealing incentive for early adopters. Through participation in the presale phase, investors can access up to 50% of the tokens across five claim rounds based on their entry timing. This mechanism could enable early supporters to realize substantial gains as the project progresses.

Cardano (ADA): scalable ecosystem for smart contracts and DApps

Cardano is a decentralized platform that creates a more secure and scalable infrastructure for developing smart contracts and decentralized applications (DApps). Cardano is trading at approximately $0.5877, showing stability amidst market fluctuations. As the highly anticipated Bitcoin halving event approaches, alternative coins like Cardano are garnering attention. ADA showcases resilience and growth potential amid market volatility. This has piqued the interest of investors and traders seeking promising alternatives within the cryptocurrency landscape.

Cardano has seen a remarkable turnaround in investor sentiment. After facing outflows, there’s now a substantial $1.1 million inflow into ADA investment products. This shift highlights Cardano’s resurgence and growing appeal among crypto investors. The influx of funds indicates a renewed confidence in Cardano’s potential, marking a positive trend after a period of uncertainty.

Ethereum (ETH): empowering decentralization with smart contracts

Ethereum is a blockchain network that is decentralized and open-source, with the ability to execute smart contracts. The current price of Ethereum is approximately $3,315, which represents an increase of nearly 2%. After a significant upward trend from the $3,500 support level, ETH is now facing resistance around $3,550 and the 100-hour Simple Moving Average (SMA). The hourly ETH/USD chart reveals a notable resistance zone at $3,550.

Technical indicators indicate that the hourly Moving Average Convergence Divergence (MACD) remains bullish for ETH. However, the Relative Strength Index (RSI) sits below the 50 level, suggesting potential increased selling pressure. Despite recent challenges, Ethereum’s repeated tests of crucial support levels hint at the possibility of a rapid price recovery.

Conclusion

As Ethereum and Cardano continue demonstrating remarkable gains in the cryptocurrency market, analysts are now setting their sights on the NuggetRush token as the next potential altcoin sensation.

NuggetRush is an intriguing platform that combines gaming with decentralized finance principles. Its unique approach presents an attractive investment prospect for those interested in the growing GameFi industry.

With growing excitement surrounding NUGX’s listing on major exchanges and the continued development of its ecosystem, this token’s future appears promising. It has the potential to create ripples within the ever-changing cryptocurrency world.

For more information on NUGX, visit NuggetRush Presale Website.

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Launched on November 13, 2024, the scrvUSD stablecoin allows users to mint the token by depositing crvUSD into the scrvUSD module. The underlying crvUSD is overcollateralized by digital assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and others, providing security to users’ funds.

Crucially, Curve Finance has emphasized that funds in scrvUSD are not rehypothecated or moved from the vaults, ensuring that the stablecoin remains a safe and sustainable option for investors.

According to Curve Finance founder Michael Egorov, the scrvUSD module is already sustainable, with over 3 million crvUSD stored in the vault. This initiative is designed to offer stability to the DeFi ecosystem, addressing the volatility concerns associated with traditional stablecoins.

The introduction of scrvUSD also marks an important step in Curve Finance’s broader strategy to enhance composability within decentralized finance.

Composability refers to the ability of various DeFi applications to work together seamlessly, allowing users to access innovative financial products.

Curve Finance’s move to scrvUSD follows its earlier decision in June 2024 to adopt crvUSD as the primary fee distribution asset, signalling a shift towards further integration across DeFi platforms.

Curve Finance’s partnership with TON

Additionally, Curve Finance is expanding its ecosystem through a collaboration with The Open Network (TON). This partnership seeks to increase interaction and composability between the two decentralized networks, fostering new opportunities for traders and investors.

As part of this collaboration, a competition was launched to develop Curve’s Constant Functional Market Maker (CFMM) — a tool designed to curb volatility and market slippage, thus improving overall efficiency in the DeFi space.

Through these strategic moves, Curve Finance continues to reinforce its position as a pivotal player in the evolving DeFi landscape.

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Bitcoin

Crypto critic Elizabeth Warren rises to top Democrat on Senate Banking Committee

Senator Elizabeth Warren will be the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee. The crypto critic’s new role means her input could have an impact crypto regulation in the US. Senator Elizabeth Warren, the top crypto critic in the US Senate, has confirmed she’s set to be the senior most Democrat…

En bild av senator Warren som representerar Massachusetts

Senator Elizabeth Warren will be the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee.
The crypto critic’s new role means her input could have an impact crypto regulation in the US.

Senator Elizabeth Warren, the top crypto critic in the US Senate, has confirmed she’s set to be the senior most Democrat on the crucial Senate Banking, Housing, and Urban Affairs Committee.

Warren, who defeated pro-crypto lawyer John Deaton for the Massachusetts senate seat in the 2024 elections, noted this in a statement published on Wednesday. Notably, the Senate Banking Committee is the entity that’s set to handle critical legislation on cryptocurrencies.

While Republicans have control of the Senate, any changes to this scenario likely during the mid-terms could see Warren become even more influential in the next two years.

Warren’s new Senate role

Warren’s elevated position follows the exit of Sherrod Brown, the former chairperson of the Senate Banking Committee. The Ohio Democrat lost in the 2024 U.S. election, with his defeat coming amid massive effort from across the crypto space to support the winner and new Ohio Senator-elect Bernie Moreno.

The 2024 US election has also seen the most pro-crypto lawmakers elected.

However, the crypto industry’s larger concern will be on the influence of the Dem’s ranking member in Senate. While Warran did mention crypto in the statement, she said:

“In the aftermath of the 2024 election, it’s powerfully important for Democratic leadership to show that we can make life more affordable for working people and to act with urgency to rebuild our middle class. For Massachusetts and hard-working families nationwide, this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams.”

Cryptocurrencies have rallied since Donald Trump won a second term by defeating Democrat Kamala Harris in Nov. 5. Bullish sentiment has seen Bitcoin break past the previous bull market’s high to hit highs of $93k.

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Bitcoin

BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October BlackRock is now in the top 1% of all ETFs by assets and is bigger…

blackrock ceo larry fink crypto digitalising gold

BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a record 211 days, annihilating prev record of 1,253 days held by $IEMG. It’s now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years. pic.twitter.com/WTATlpShUq

— Eric Balchunas (@EricBalchunas) November 13, 2024

Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

Reaching new heights

The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.