The crypto market has been filled with surprises. Loom Network (LOOM) has stunned investors with its incredible rise in the past few weeks. Likewise, rumours have filled the market over potential layoffs by Polkadot (DOT). Still, most investors are excited over NuggetRush (NUGX) as it promises to be one of the top ICO projects in 2023. Now, analysts are dumping their tokens for NUGX. Is this a wise move? Let’s find out.
TLDR
- Loom Network (LOOM) was recently added to Gate.io Exchange, driving its price up.
- NuggetRush (NUGX) is all set to introduce NFT staking for in-game collectibles.
- Polkadot (DOT) denies plans to lay off employees. Analysts remain optimistic in their forecasts.
Loom Network (LOOM) Soars in October – Is It Sustainable?
Despite the current bearish run of the crypto market, the Loom network has recorded a sharp price increase since mid-September.
LOOM was trading at $0.039 on September 1 after the market crash. By September 25, LOOM had increased by 174% to $0.107. In addition, LOOM maintained its bullish rise, rising by 220% to $0.343 on October 15.
Loom Network’s (LOOM) sharp rise has caused strong speculations as to the reasons behind its increase. Before late September, Loom Network (LOOM) had relatively low network activity.
Many say Loom Network’s listing on Gate.io on September 25 could be behind LOOM’s sharp rise. Subsequently, Loom Network futures were also added to Binance and Lbank exchange.
Following these events, some analysts say Loom Network’s (LOOM) adoption will skyrocket in the coming months. This could push LOOM up by another 46.9% to $0.504.
NuggetRush (NUGX): Where Gaming Meets DeFi
Decentralized finance has changed the way people interact with video games. In the past, players got little rewards for their activity in the gaming world. All assets earned or bought were usually the property of the game. As such, players could only interact with their gaming collectibles during the game. Thankfully, Game-Fi has changed all that.
Capitalizing on Game-Fi’s popularity, NuggetRush created an immersive mining experience that allows players to mine assets like gold. The game features a virtual experience that simulates what real-world mining feels like.
NuggetRush (NUGX) allows players to earn money and other special rewards for participating in its online mining experience. To get started, players only need to create custom avatars and set up mining facilities.
These gamers receive collectibles like character NFTs and Rare RUSHGEM NFTs, making it one of the best DeFi projects. They can also receive real-world gold in exchange for their RushGEM NFTs directly on NuggetRush’s (NUGX) marketplace.
Other benefits of NuggetRush (NUGX) include governance rights and the ability to collaborate with other gamers. Furthermore, they can support the efforts of artisanal miners in underdeveloped countries. Finally, there is a free token claim when NuggetRush’s presale ends.
NUGX’s current price is $0.010. Yet, NUGX will rise by 20% to $0.012 by Round 2 of its presale, making now the perfect opportunity to join and capitalize on the upcoming gains.
Rumours of Polkadot Layoffs Fill The Market Amid Bleak Performance
Polkadot’s (DOT) network has faced rumours of layoffs of over 300 persons from the staff in the past few weeks. However, Polkadot has denied these claims and instead hinted at a reorganization of their work structure. On the other hand, analysts say that fears of Polkadot (DOT) layoffs are valid, given the current bleak outlook of the crypto market.
Polkadot’s layoff rumours come amid DOT’s continued market slide that started at the end of August. DOT was trading at $4.21 on September 1. By October 15, DOT’s market decline had worsened, pushing it down by 10.9% to $3.75.
On a more positive note, Polkadot (DOT) plans to allocate over $22 million to projects in line with the network’s growth strategies. This could increase Polkadot’s network adoption and audience reach, pushing DOT up to $4.95. If DOT rises further, it could soon become one of the top crypto coins.
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