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Crypto analytics platform CryptoQuant believes that the Bitcoin bull market is far from over.
Following the launch of the community rewards initiative, Toncoin has been predicted to soar to $5.50.
The impact gaming model of NuggetRush has been predicted to fuel the rally of the altcoin.
Despite suffering double-digit downtrends, the CEO of CryptoQuant, Ki Young Ju, has stated that the Bitcoin bull cycle is far from over, and new all-time highs should be expected. As we go deeper into the bull market, Toncoin and NuggetRush have emerged as two altcoins to watch as they approach a potential price breakout.
The goal of the NuggetRush (NUGX), one of the new DeFi projects gaining momentum, is to create an ecosystem that combines meme components, GameFi, NFTs, and play-to-earn (P2E). Players will be taken on a thrilling gold mining adventure through the exciting virtual world.
NuggetRush also provides entertainment and offers an avenue for players to convert their gaming prowess into real-world value. The in-game gold players find during their excavations can be converted into real gold and cash, making NuggetRush one of the best gaming tokens.
The project also extends its reach into the real world via its impact gaming model. Its players won't be the only beneficiaries of the game, as poor artisanal miners in underdeveloped countries will also receive a portion of the rewards generated by the NuggetRush project.
This exciting new gaming model has fueled a massive demand for the NUGX tokens. In the past few weeks, over 242 million tokens have been sold out, helping the project raise over $3 million in its cryptocurrency ICO. While NUGX is priced at $0.019 ahead of its launch, it has been tipped to be one of the most bullish altcoins in 2024, with an expected target between $1.00 and $1.50.
After setting its latest all-time high above $73,800, the price of Bitcoin (BTC) recorded a huge decline, falling as low as $61,000. While the price of Bitcoin is now on a recovery path, the CEO of CryptoQuant, Ki Young Ju, has stated that the Bitcoin bull cycle is far from over.
He explained that BTC still has room for new ATHs, reaffirming belief in the Bitcoin camp. According to Ju, the recent rally was due to the approval of spot ETFs and not the inflow expected from the April halving events.
Ju also noted that the bull cycle often ends with huge inflows from Bitcoin for beginners. While currently at only 48%, the CryptoQuant CEO highlighted previous bull cycles, where this figure was between 84% and 92% of total investment. This means BTC still has room for growth.
The TON Foundation, the team behind one of the top altcoins, Toncoin, has announced the launch of The Open League. The Open League is a 30 million Toncoin community rewards initiative.
Valued at over $120 million, the distribution will be allocated to competing projects and TON ecosystem users starting next month. A dividend valued at more than $120 million will be made to users of the TON ecosystem and rival initiatives beginning next month.
Due to this move, crypto experts are bullish about Toncoin (TON). While TON recently reclaimed the $4.00 mark, Coincodex, has projected that Toncoin could rally above the $5.50 mark before the end of March.
With Bitcoin projected to extend its bull run, the rest of the crypto market is predicted to benefit from it. While Toncoin is one of the top altcoins to buy, the unique new model of NuggetRush sets it up for a greater parabolic price rise in the coming weeks.
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