TLDR
- Sui has announced a new DeFi partnership.
- Filecoin has fallen amid the market-wide price tumble.
- NuggetRush (NUGX) has lost bullish momentum in 2024.
Sui holders hope for a recovery in the coming weeks as the network’s token has fallen below $1.00. Filecoin’s DeFi activity could nosedive following controversies emanating from STFIL.
Investors are stockpiling NuggetRush (NUGX) tokens after its mega presale that raised over $3.8 million. NuggetRush (NUGX) outperformed many gaming tokens, selling over 270 million presale coins. Yet, can it become one of the top DeFi projects in the gaming industry? Let’s discuss.
Sui’s Partnership with Blocktrade Could Help it Remain Above $1
Sui has lost bullish momentum as the market enters the third week of April. Despite reaching a high of $2.10 in mid-March, Sui has fallen sharply, losing nearly $1 billion in market capitalization. Sui’s drop coincided with a market correction that followed Bitcoin’s sharp retraction from the $70,000 mark.
SUI traded at $1.6191 on March 13. Two weeks later, it soared by 24.82% to $2.0210 on March 28. SUI fell by 15.35%, reaching $1.7107 on April 8. However, the market-wide price tumble took SUI down by 37.73% to $1.0651 on April 13.
Sui could recover due to a partnership with Blocktrade announced on April 10. The partnership will allow Blocktrade users to trade SUI tokens. It would also offer SUI payments in Europe via Blocktrade Pay. Analysts say this will boost SUI’s popularity, pushing its value up by 50.15% to $1.5993. This could also make SUI one of the most bullish altcoins.
Controversy Rocks Filecoin Staking Protocol
Filecoin staking could take a hit in the coming weeks due to controversies surrounding one of its biggest DeFi protocols. On April 9, the STFIL Protocol announced that Chinese police had detained several of its team members. Their detention followed the unusual movement of $40 million worth of Filecoin (FIL) tokens to an unknown address.
The news coincided with Filecoin’s (FIL) sharp drop in mid-April. FIL traded at $11.18 on March 11. It fell by 16.25% to $9.3625 on March 25. FIL dropped by 5.64%, reaching $8.8336 on April 7 before a 35.12% fall to $5.7307 on April 13.
Filecoin’s (FIL) drop could worsen if its staking activity falls. Onchain reports show that the Filecoin staking Protocol (STFIL) has recorded a near 50% drop in TVL in the past month. However, some analysts say positive developments from Filecoin’s (FIL) upcoming upgrades will spur its recovery. This could push Filecoin’s FIL token up by 55.90% to $8.9344, making it one of the top crypto coins.
NuggetRush’s Market Surge Underscores Bybit’s Belief in Increased Gaming Activity
NuggetRush (NUGX) is bringing mining spectacles to the blockchain gaming industry, offering a first-of-its-kind opportunity to accrue real gold rewards. Situated in Ethereum’s ecosystem, NuggetRush (NUGX) is a unique game focused on recreating the thrills of artisanal mining. It invites gamers to its ecosystem to build businesses from mining and excavating mineral resources.
NuggetRush (NUGX) gamers face challenges ranging from soil survey to excavation and refinement of mineral resources. Thankfully, the payouts for your gaming efforts include NFTs, game funds, and high-value collectibles. NuggetRush (NUGX) also offers immersive gameplay that allows collaboration with other gamers in group tasks and challenges.
It also offers varying ways to accumulate wealth from its ecosystem. Gamers can make money from selling high-value NFTs. They can also stake their gaming collectibles, earning fixed APY rewards determined by their selected staking duration. This allows gamers to accrue rewards without selling their collectibles.
One of the standout features of NuggetRush (NUGX) is its gold-backed RUSHGEM NFTs. Players can receive gold rewards when they swap their RUSHGEMs on the game’s marketplace. NuggetRush’s blockchain ICO is complete.
Over $3.8 million was raised as the project sold 271 million presale tokens to investors. More gamers are joining NuggetRush (NUGX) to capitalize on its upcoming airdrop event.