● Over $3 billion worth of BTC has been bought by whales since the start of 2024. ● Raoul Pal has shared a bullish insight on Solana as SOL gears up for a rally to $113. ● NuggetRush has emerged as a potential 10x coin thanks to its revolutionary impact gaming model.
Although the ETF impact on crypto prices was majorly negative, the report shows that whales are still anticipating a bull market. IntoTheBlock has reported BTC accumulation of over $3 billion since the start of 2024.
As bulls anticipate a bull market, top crypto analysts have predicted significant rallies for Solana (SOL) and NuggetRush. Let's find out how these top altcoins will perform in the coming weeks.
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Bitcoin (BTC) Whales Continue Amassing Despite Downtrend
The crypto market saw its biggest decline in more than a year after the SEC decision on Bitcoin ETF. However, despite the steep downtrend, data shows that Bitcoin whales still believe in an uptrend happening in 2024.
A total of 76,000 Bitcoins have been accumulated since the start of the year, according to data from IntoTheBlock. The crypto analytics firm also reported that whales have been on an accumulation spree since April 2023.
An increase in accumulation often correlates with a Bitcoin price rally. So, while Bitcoin might range around the $42,000 level due to the recent downtrend, whales expect a major price upswing soon. A major contributory factor to this is the upcoming Bitcoin halving happening in less than 100 days.
NuggetRush (NUGX) Poised for Bullish Outbreak in 2024
As Bitcoin sets the precedent for a bull market, NuggetRush (NUGX) is one of the top DeFicoins looking to benefit from it. The impact gaming model of NuggetRush has been one of its most talked-about features. Because of this novel feature, market experts believe its price can increase as much as 10x in the 2024 bull market.
The impact gaming model of NuggetRush, as opposed to other GameFi projects, sees the DeFiproject extend its use outside of the virtual environment. A portion of the game's cryptocurrency mining rewards will be given to actual artisans in underdeveloped countries where rare stones and gold are mined.
After the project launches, NuggetRush's smart contracts will be phased away, granting ownership to the community. This is done to guarantee its long-term sustainability and transparency. This implies that rewarding miners will be the community's responsibility.
Staking ERC20 tokens on the NuggetRush platform will be used to do this. This also grants users access to passive income. NUGX is currently priced at $0.018, following its 80% price increase. With a 10x forecast for the coin, now is considered the best time to join NuggetRush.
Raoul Pal Shares Bullish Solana (SOL) Predictions
Solana (SOL) has been one of the best altcoins since it plunged to a low of $79.00 on January 23. The Solana coin has recovered the $80.00 and $90.00 support levels and is looking to test $100 soon.
Pal recently shared a Solana chart that shows the coin breaking out of a descending parallel channel. Following this breakout, the short term target for SOL is $113.00.
Conclusion
Overall, the cryptocurrency market is looking bullish as Bitcoin whales continue their accumulation spree. Based on the predictions of analysts, SOL and NUGX are two top altcoins to watch in the coming weeks.
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