Crypto Market Trends Upward: Discover the Prime Coins for Savvy Investment Opportunities (NUGX, LINK, SHIB)
In Brief
Chainlink (LINK) has risen nearly 80% since mid-October, leading to speculations about a rally.
Shiba Inu’s investor sentiment is also rising following the 23% increase in its token’s Open Interest.
NuggetRush (NUGX) is a mining ecosystem that encourages collaboration between players while offering gold rewards.
Chainlink’s GrayScale Trust has risen to new heights in the crypto market, mirroring the performance of LINK. Elsewhere, Shiba Inu’s open interest is growing as its token burns have increased.
Still, NuggetRush’s unique NFT services could make it a top player in the play-to-earn world. Now, analysts wonder if NUGX can outperform LINK and SHIB to emerge as the best cryptocurrency investment in 2023.
NuggetRush: New Mining Adventure Offers Players Gold and Other Rewards
NuggetRush (NUGX) is a breath of fresh air in the play-to-earn gaming community. The game comprises an adventurous experience where winning involves strategic thinking, resource management, and searching for mineral resources. The NuggetRush universe contains diverse characters with various artisanal and business management skills.
Its gameplay involves creating custom avatars and leveraging the skills of other NFT characters to build profitable mining facilities. These NFT characters have varying skill sets, contributing to their overall efficiency. They also have different levels of luck, thus making the NuggetRush experience more dynamic.
NuggetRush (NUGX) contains rewards at every stage of the game. When players successfully excavate resources, they receive money, NFT characters, and mining equipment.
Players can get better equipment and improve their NFTs using the game’s native currency. As expected, upgrading NFTs increases their value, which players can trade for real money on NuggetRush’s (NUGX) marketplace.
NuggetRush (NUGX) just entered Round 2 of its presale as part of its ongoing blockchain ICO. NUGX’s value is $0.012 after appreciating by 20% as it moved from Round 1 of its presale.
By Round 3, NUGX’s value would rise by 8.3% to $0.013. It will keep growing as NuggetRush’s popularity soars through the market. However, when NUGX reaches $0.020, major exchanges will list it.
Chainlink (LINK) Bullishness Reflects In Market Performance of GrayScale’s Chainlink Trust
The bullishness in the crypto market has positively affected Chainlink (LINK) and one of its exchange-traded products, GrayScale’s Chainlink Trust. A Chainlink influencer showed that GrayScale’s Chainlink Trust had jumped to a 200% premium compared to spot LINK markets.
The recent clamor for spot Bitcoin ETFs also influenced the rise in GrayScale’s Chainlink Trust and triggered a bullish run. LINK was trading at $7.20 on October 12. By November 7, LINK rose by 81.5% to $13.07.
Another factor that could have positively affected Chainlink’s momentum is its recent partnership with Scroll. Chainlink’s data feeds will be available on Scroll, thus boosting the latter’s DeFi capabilities. Analysts agree that Chainlink could maintain its rising investor sentiment, thus pushing LINK up by 26.54% to $16.54.
Shiba Inu (SHIB) Open Interest Rises by 23%
Reports from Velo Data showed a rise in Shiba Inu’s open interest since the start of November 2023. Shiba Inu’s Open Interest indicates the dollar value of active perpetual futures and standard futures contracts tied to SHIB.
The reports showed that it had risen by 23% to $61.74 million. The reports come amid SHIB’s recent market surge, which analysts believe could be due to ongoing Shiba Inu token burns.
SHIB traded at $0.000007788 on October 31. Bullish momentum then pushed SHIB up by 5.5% to $0.000008217 by November 7. Excitement around possible spot Bitcoin ETF approvals boosted Shiba Inu’s recent performance.
Furthermore, since the launch of Shibarium, Shiba Inu has embarked on more token burns with the hope of increasing SHIB’s value through scarcity. Some analysts say Shiba Inu’s token burns could increase its trading activity, thus pushing SHIB up by 19.1% to $0.000009788.
If Shiba Inu remains bullish, SHIB might become one of the top crypto coins of 2023.
Visit NuggetRush Presale Website
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
