Velas (VLX) and NuggetRush (NUGX) Pump as Ripple (XRP) and Bitcoin (BTC) Struggle

TLDR

• Bitcoin’s price declined after rumors of spot ETF rejection.
• SEC vs Ripple uncertainty has left XRP in negative territory.
• Velas and NuggetRush are on a positive uptrend, respectively, as seen in their price rally and presale success.

Ripple’s (XRP) and Bitcoin’s (BTC) prices have declined due to regulatory pressures. BTC is now lingering around $43,000 after hitting a 21-month peak this week, while XRP has not seen a price uptick in a month. Amid these struggles, two other decentralized cryptocurrencies, NuggetRush (NUGX) and Velas (VLX), are on a sustained and consistent bullish trajectory.

NuggetRush is a new meme project on the budding DeFi crypto list that offers an innovative impact gaming model, an NFT marketplace, and the ability for players to earn real cash and gold by mining virtual resources. The viral success of its blockchain ICO in four rounds reflects its robust approach and growing recognition. The following sections cover the pump of Velas and NuggetRush and why Ripple and Bitcoin struggle with their prices.

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NuggetRush (NUGX): New Presale Milestone On The Horizon

NuggetRush interlinks cryptocurrency, blockchain technology, decentralized finance (DeFi), and real-time earning in an engaging play-to-earn (P2E) gaming experience. While offering these, the project aims to support artisanal miners in underdeveloped regions. NuggetRush also features a popular NFT (non-fungible token) marketplace with unique and rare digital collectibles that can be staked to enhance gains. 

NuggetRush has yet to launch; it is in the presale phase, where the tokens are available for sale at discounted prices. This blockchain ICO has raised over $1.5 million so far. With the increased interest in its offerings, it should clear this milestone quickly. The presale offers each token for $0.015, which will reach at least $0.020 when it goes live. 

While it is in the initial coin offering (ICO) stage, NuggetRush is a safe investment because SolidProof, a top blockchain security firm, has audited the smart contract. Investors have shown trust and confidence in the security commitment and proposition of the platform, as seen in the sale of almost 135 million NUGX tokens in four rounds. This success indicates that some individuals have gone from actively watching its development on the DeFi crypto list to investing in it.

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Velas (VLX): EVM-Compatible Blockchain

Velas is built to host the next generation of blockchain applications with Ethereum Virtual Machine (EVM) capabilities. The platform is growing in adoption among decentralized application (dApp) developers and DeFi users thanks to its speed, security, efficiency, and powerful development resources. The Velas blockchain currently hosts the well-known decentralized application AstroSwap, a full-featured exchange and DeFi suite. 

VLX has been showing positive price action for a while now. The uptrend could be attributed to increased coin popularity: listings on significant exchanges, upgrades, and hosting of other projects. All these have contributed to VLX‘s value pumping past 95% in a week and over 145% in a month.

Ripple (XRP): Faces Regulatory Uncertainties

There were no SEC (Securities and Exchange Commission) vs. Ripple case-related updates for investors to consider on Tuesday. The lack of such news left investors considering the road ahead for Ripple in the courts. Thus, the uncertainty about the penalty for XRP sales to US institutional investors lingers and could continue influencing buyer demand for XRP.

Ripple‘s price entered a 9% correction this week. Despite the drops, data from CoinMarketCap shows that the XRP‘s trading volume is now up by over 153%, marking a significant increase.

Bitcoin (BTC): Struggles With Key Levels

Bitcoin began 2024 on a high note, with the token approaching the $46,000 price mark. BTC found a strong selling interest, and rumors of its spot ETF (exchange-traded fund) rejection slammed the market. It sparked bearish moves as BTC declined over 10% and tumbled below the $40,000 level. Despite the earlier plunge, Bitcoin has shown resilience lately and is now trading below $43,500.

Some crypto analysts expressed skepticism about approving Bitcoin ETFs, arguing that the applications might not meet the SEC’s strict requirements. The negotiations on BTC ETFs now seem to be a pivotal factor for the market’s direction, with potential approval acting as a catalyst for further gains. 

Conclusion

Increasing regulatory uncertainty could likely continue to restrain the positive price movements for XRP and BTC in the near term. Velas and NuggetRush, on the other hand, continue to show bullish indicators. If you want to diversify your portfolio this first quarter of the year, you can start with NUGX tokens. Invest early and yield more gains, with unparalleled perks like no tax or fees and exciting rewards and giveaways. 

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