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Demand for Solana's exchange-traded products (ETPs) has been rising steadily, leading to speculations that SOL could rally soon. Likewise, Aptos (APT) has pulled off an impressive recovery. Experts now say its partnership with Microsoft could have contributed to its rise.
However, no project is generating as much popularity as NuggetRush (NUGX); a play-to-earn mining game built on Ethereum. The game offers multiple rewards that are attractive to investors. However, can that make it one of the top crypto coins?
Let's hear what analysts are saying…
Solana (SOL), one of the top altcoins, has recorded a sharp rise in weekly inflows to its exchange-traded products. According to data from Delphi_Digital, the 21Shares Solana Staking ETP (ASOL) had risen to 2nd in net monthly inflows. Data further showed that Solana (SOL) last recorded a similar rise in inflows in mid-2021.
The surge in demand for Solana's ETPs likely spurred SOL's rally in the past few days. SOL was trading at $23.84 on October 1. As Solana's net inflows rose, SOL jumped by 37.5% to $32.78 on October 26.
The rising demand for Solana's ETPs could be due to its recent network partnerships. Solana (SOL) had partnered with VISA to enable cross-border stablecoin settlements. Furthermore, Solana upgraded its network to version 1.16 on September 28, 2023.
Analysts say such developments could increase Solana's (SOL) trading activity, pushing SOL up by 23.6% to $40.53.
The general bearish sentiment in 2023 has affected investor sentiment toward many projects. Yet Aptos (APT) has recovered impressively. Network activity on Aptos has remained high in the past few months. In August 2023, demand for Aptos Futures hit a 3-month high, causing traders to short their APT holdings. This triggered an Aptos bear run that worsened following subsequent market crashes.
At the height of demand for Aptos futures, APT was trading at $7.152 on August 10. Yet after a largely bearish September, APT had fallen by 20.7% to $5.667 on October 1. However, APT recovered by 21.2% to $6.869 on October 30.
APT's recovery could be due to the partnership between Aptos and Microsoft. Aptos is working with Microsoft to incorporate AI technologies into everyday use. Partnering with Microsoft could increase demand for Aptos, causing APT to rise by 16.2% to $7.988.
The crypto market is abuzz over the announcement of NuggetRush's upcoming launch. Built on Ethereum, NuggetRush (NUGX) is an opportunity to earn money from succeeding at mining quests, challenges, and competition.
The game offers a competitive environment in a mineral-rich terrain. Players must then use NFTs that consist of miners, business experts, and machinery to build and grow a mining operation.
To keep players engaged, NuggetRush (NUGX) offers an experience uniquely similar to real-world mining. Players will complete geophysical surveys, soil sampling, and traditional prospecting.
NuggetRush (NUGX) allows collaborations between players. Users can also form partnerships and mining guilds. They are also group challenges that offer high rewards to group members. Players can also form mining guilds with experienced miners, thus boosting their efficiency and chances of winning mining rewards.
NuggetRush (NUGX) is yet to launch. Yet, it is dominating headlines in the crypto market. Right now, the project is undergoing a blockchain ICO. It just entered Stage 2 of its presale, and NUGX costs $0.012.
NUGX's expected to grow in its presale and is already attracting many investors. When NuggetRush finally launches, NUGX would be trading at $0.020. This could make NUGX the best cryptocurrency investment of Q4, 2023.
