TLDR
- Bitcoin surged in February 2024, aiming for a new all-time high before its April halving. However, on February 28, it dropped 7%, causing chaos for leveraged traders as over $600 million in liquidations occurred.
- NuggetRush (NUGX) is an innovative crypto platform combining gold mining, NFT gaming, and cryptocurrency in a play-to-earn (P2E) game. Offering utility through governance and GameFi functions, NUGX has gained investor confidence.
In the dynamic cryptocurrency market, the stories of two prominent players, Bitcoin (BTC) and NuggetRush (NUGX), unfold with intriguing twists and turns. While one has been volatile recently, the other has maintained consistent growth. Here is why investors are buying into NuggetRush’s presale despite a bullish momentum in Bitcoin’s market.
Bitcoin’s Rollercoaster Ride: A Surge, a Massacre for Traders, and a Resilient Bounce Back
Bitcoin (BTC) rallied throughout February 2024, and it appeared ready to record a new all-time high (ATH) before its halving event in April. However, the rally was deflected on February 28, when Bitcoin (BTC) dropped 7% from a $64,000.15 high, turning into a massacre for leveraged traders.
On that day, Bitcoin (BTC) exploded above the $60,000.05 zone for the first time since November 2021. After peaking at $64,037.15, it abruptly dropped to $59,400.85, according to crypto news highlights. The flagship crypto has remained volatile recently, and it seems to be gathering momentum to challenge its all-time highs in the coming weeks.
Bitcoin’s (BTC) sell-off last week impacted the entire crypto space, with most of the major coins losing up to 9%. The abrupt drop in Bitcoin’s (BTC) prices resulted in over $600 million in liquidations, flushing out leveraged derivatives trading positions, according to CoinGlass data.
Liquidations happen when a crypto exchange closes a leveraged trading position because of a partial or total loss of the trader’s money down or “margin” when the trader has inadequate funds to keep the trade open.
Last week’s action was possibly the biggest liquidation since August 2023, when Bitcoin’s (BTC) abrupt drop to $25,000.87 liquidated $1 billion of derivatives across the crypto market.
Nonetheless, BTC has bounced back above $60,000.00 and seems ready to keep rising. On March 4, 2024, Bitcoin (BTC) was trading above $63,555.15, up 23.44% in the past week. Experts say Bitcoin (BTC) will rise to $66,200.55 in March, supported by increased demand.
NuggetRush (NUGX): Integrating Gold Mining, NFT Gaming, and Artisanal Mining for a Revolutionary P2E Experience
NuggetRush (NUGX) is a crypto platform integrating gold mining, NFT gaming, cryptocurrency, and artisanal mining to develop an engaging play-to-earn (P2E) game.
While most cryptos, including the Elon memecoins lack utility, NuggetRush is unique since it blends governance utilities and GameFi functions, boosting investors’ confidence in its NUGX P2E coin. These features have enhanced NuggetRush’s (NUGX) prospects for rapid adoption upon launch, attracting investors who see its presale as the best crypto investment for long-term gains.
NuggetRush’s crypto ICO is in its Launchpad round, offering NUGX tokens at $0.019 each. Interestingly, the NuggetRush value in the presale offers an attractive discount, an ideal entry point, since NUGX’s price will rise to its listing price of $0.020 and then explode exponentially after joining the mainstream market.
NUGX’s remarkable early performance and massive growth potential have caused rumors of an upcoming 30X surge after its launch. The rumors have solidified NuggetRush (NUGX) as the best new crypto to invest in since it will dominate the coming crypto bull market.
Apart from giving artisanal miners in developing countries opportunities to thrive, NuggetRush (NUGX) works as a player-driven NFT marketplace with a unique feature. RUSHGEM NFTs can be changed into physical gold, increasing the tangible capacity of investors’ digital assets.
In that context, NuggetRush users can personalize and trade their avatar NFTs, which makes them the best NFTs to invest in. This characteristic is one of the many components of this project that make it attractive to most investors. The project has sold over 206 million NUGX tokens and raised over $2.6 million.
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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.