TLDR
- Solana’s market capitalization has grown by over $10 billion since mid-October.
- The EU is considering a bill that could ban privacy coins like Monero (XMR).
- NuggetRush’s (NUGX) mining adventure could shake up the play-to-earn gaming ecosystem.
Solana’s market capitalization has risen by 100% since mid-October, highlighting its growing popularity. Elsewhere, Monero (XMR) might run into trouble in Europe as analysts as the EU parliament considers an outright ban on privacy coins.
Now, analysts are turning to NuggetRush (NUGX), a meme coin gaming network whose presale has caught the crypto market by storm. NUGX’s value has jumped by 30% since its presale launch. Yet, can it become one of the top 5 cryptocurrencies in 2023? Let’s discuss.
Solana’s Market Capitalization Doubled since October
Solana (SOL) has become one of the most popular top altcoins as its market capitalization has doubled since 2023. As of October 13, Solana’s (SOL) market capitalization stood at $8.86 billion.
Over a month later, Solana’s market capitalization soared to $25.6 billion by December 1. Solana’s (SOL) daily transaction count had also increased to 21.1 million on November 23.
Solana’s rising network activity and market capitalization have likely spurred SOL’s November rally. SOL was trading at $38.52 on October 31. By November 23, SOL’s value had soared by 46.9% to $56.60. SOL remained bullish, rising by 4.6% to $59.24.
Solana’s (SOL) network activity has likely been increased due to its recent partnerships with Visa. Furthermore, growing calls for Spot Bitcoin ETFs have boosted trading activity for many cryptocurrencies, including Solana. Analysts expect Solana’s network activity to keep rising, thus pushing SOL up by 15.2% to $68.25.
NuggetRush: Outshining Play to Earn Projects Via an Innovative Ecosystem
NuggetRush (NUGX) is a challenging adventure that offers the opportunity to become a successful mining entrepreneur. The game features a hyper realistic adventure where players get to participate in the day-to-day life of an artisanal miner and enjoy opportunities to win various financial rewards, including real gold.
NuggetRush (NUGX) challenges a player’s ability to manage scarce resources and make strategic decisions. Players will seek to establish a profitable mining setup using skilled NFT characters and entrepreneurs. NuggetRush (NUGX) offers various gameplay modes, including battles, quests, ranked play, and competition.
After completing mining challenges, players will receive NFT characters, machinery, and extra in-game funds. Players can receive their in-game funds to upgrade the machinery and skills of their NFT characters. This will directly boost their mining efficiency and their eligibility for rewards.
Players can also earn money by selling their NFT characters on NuggetRush’s (NUGX) marketplace. Furthermore, the network offers NFT staking, which directly boosts a player’s earnings without requiring them to sell their holdings.
NuggetRush’s blockchain ICO is one of the most talked about investments today. Now, in round 3 of this presale, NUGX’s value has soared by 30% since the start of its presale. Its current value is $0.013.
By the next round, NUGX’s value would jump to $0.018, growing by 15.3% from its current value. Exchanges will be listing NUGX when its value reaches $0.020.
EU Mulls Plan to Ban Privacy Coins
The European Union is considering a money laundering bill that could ban crypto providers from offering privacy coins like Monero (XMR). The news further adds to the troubles that Monero (XMR) and other privacy coins have faced in 2023.
In mid-June, Binance delisted several privacy coins like Monero and Zcash due to concerns about fraudulent activity.
The news of the EU’s potential ban on privacy coins could worsen Monero’s (XMR) slight bearishness in November. XMR was trading at $171.64 as of November 1. Yet, XMR’s value had decreased slightly by 0.1%, reaching $169.79 on November 30.
Monero (XMR) also faces reduced investor sentiment following news of a recent community wallet hack. The news caused panic as investors worried over Monero’s security. Analysts say Monero would struggle to recover from its 2023 lows due to its reduced investor sentiment. This could push XMR down by 5.9% to $159.72.
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