TLDR
The crypto community is abuzz after dYdX (DYDX) unlocked 150 million tokens, worth over $500 million. In the crypto space, such events are usually bearish and often followed by a price dump.
Meanwhile, despite bearish pressure, Ripple (XRP) trades above $0.60, key support, while confidence soared in NuggetRush (NUGX). This article will explore the potential dump to follow the dYdX token unlock.
In addition, it will cover XRP’s support at $0.60 and the confidence in this top ICO, NuggetRush (NUGX).
NuggetRush (NUGX) is making a name for itself with its unique approach to cryptocurrency. It stands out in the crypto space for its blend of P2E, GameFi, Impact Gaming, and memes.
This upcoming P2E gaming platform will offer an immersive gaming experience. Besides the exciting gameplay, players will be rewarded with tangible in-game assets while playing the thrilling gold-mining game.
Moreover, the game will have a meaningful impact as a percentage of rewards and in-game purchases will be given to artisanal miners in underdeveloped nations. Therefore, it will be more than just a game or cryptocurrency; it will support deserving causes.
The presale is currently in its third round, and a token costs only $0.013. Its cheap price puts it among the best cryptos to invest in. Meanwhile, according to analysts, there will be a 40x price increase, positioning it as the best new crypto to invest in now.
In a development that has stirred up buzz in the crypto scene, dYdX held a massive token unlock. It totals 150 million DYDX, which is an 80% addition to the previous circulating supply.
In terms of valuation, it was worth over $500 million at the time, which was released to early investors, teams, and founders.
According to Lookonchain, token recipients have been transferring assets to exchanges like Binance. Before the unlock, dYdX had been in decline, evident in its weekly timeframe.
Nevertheless, a rebound is likely to happen soon. After all, dYdX is still one of the top altcoins on the market.
As the year comes to an end, Ripple (XRP) appears to have been struggling with momentum.
However, analysts believe it might be gearing up for another bull run. It is to be recalled that earlier this year, specifically in June, XRP peaked, soaring to $0.80. Since then, it has experienced a significant decline.
However, despite the ongoing tussle between the bears and bulls, XRP has maintained key support at $0.60. A fall below this level will likely result in further price declines. Alternatively, a rise above it could lead to a strong surge.
Given current market conditions, Ripple is likely to rally in the coming weeks. According to analysts, it could retest the $0.70 level before the close of the year. This makes it one of the best coins to invest in.
The massive dYdX unlock has started its bearish course, with the price taking a hit. Meanwhile, XRP has found solid support at $0.60, while NuggetRush (NUGX) has become an investor favorite. This makes them altcoins to watch in the coming weeks. You can purchase XRP on popular crypto exchanges, but if you wish to buy this new P2E memecoin, follow the link below.
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