● Chainlink whales stocked up 57M LINK within the past 30 days. ● Standard Chartered has predicted Ethereum's price will hit $4k after Ethereum ETF approval. ● NuggetRush features a token that functions as a meme coin and a gaming token.
Chainlink whales have accumulated 57 million LINK over the past month, a sign of confidence in its future movement. Meanwhile, Standard Chartered's analysts have made a bullish prediction for Ethereum. They project its price to soar to $4,000 following the approval of an Ethereum ETF in May.
In other developments, NuggetRush has carved out a niche for itself with a dual-function token that serves both as a meme coin and a gaming token. This approach and the potential it holdspositions NuggetRush as a top crypto to buy now.
NuggetRush (NUGX) Merges Meme Coin and Gaming Into One Platform
NuggetRush (NUGX) has seen huge adoption in the crypto community lately. The crypto ICO, which began in round 1, has sold out round 1 to 4 and is now at round 5. Its native token, NUGX, is up for sale at $0.018 with a 50x prediction after launch. Interestingly, this token has dual utility as a meme coin and a gaming token.
Meme coins are known to have parabolic price movements, which is visible when we look at Shiba Inu and Dogecoin's trajectory after their launch. However, only hype can not maintain this upward trajectory. This is why NuggetRush built a gaming platform around the NUGX token. The platform fuses cryptocurrency mining and entrepreneurship into a game.
This new approach allows players to establish and manage profitable mining operations in the game. NuggetRush will enable players to organize mining teams, fight in strategic battles, and complete tournaments to locate gold and other minerals.
The goal of building teams is to increase overall success and operational efficiency. Meanwhile, the gameplay extends beyond simply seeking for minerals. Other tasks include tunnel excavation, soil testing, and mine shaft construction. The aim is to create a comprehensive gaming experience.
Chainlink (LINK) Whale Accumulation, Price Going Higher
Data from IntoTheBlock has shown that Chainlink (LINK) whales have bought over 57 million LINK tokens ($855 million) in the past 30 days. This huge accumulation comes as selling pressure declined in the past week.
CryptoQuant data shows that Chainlink reserves on CEX have declined to new lows not seen since earlier this month. Additional data reveals that investors have continued to take their Chainlink off the exchanges to HODL them for a long period.
This outflow from exchanges might be responsible for the latest price surge. According to CoinMarketCap, Chainlink DeFi coin price has increased 11.6% in the past week from a low of $13.55 to a high of $16.02.
Ethereum (ETH) ETF Launch To Come In May
Standard Chartered has predicted that the US SEC will likely give the green light to Ethereum (ETH) ETFs in May. This expected approval could greatly boost Ethereum's market value.
According to reports, the bank projected a potential increase to $4,000 by May 23rd. This is the last day the SEC has to give its verdict on ETF applications from Ark 21Shares and VanEck.
Investors remain skeptical of Ethereum despite the optimistic price forecast. Ethereum is currently fluctuating between $2,186.24 and $2,379.82 on the weekly timeframe, with a 4.8% gain.
The Ethereum Fear and Greed Index currently shows a score of 54, pointing to a neutral market mood. This demonstrates a sense of caution among investors as they look forward to the SEC's ruling and its likely effect on the altcoin price.
Conclusion
Positive sentiment in the cryptocurrency market is increasing, as evidenced by whale accumulation and the likelihood of an Ethereum ETF in May. Investors are prepared to put money into promising DeFi projects like NuggetRush now that they've emerged from the current dismal cycle. Besides, now is the ideal time to join the potential best cryptocurrency in the 2024 bull run.
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