What you'll learn 👉
- Litecoin completed a record number of transactions in 2023. However, the bear market kept the LTC token stagnant.
- NuggetRush (NUGX) just announced the upcoming release of a play-to-earn game that stands out for offering multiple straightforward earning opportunities.
- Avalanche’s Total Value Locked (TVL) has lost $200 million since late July, sparking fears among AVAX holders.
The crypto market’s slow performance could continue until the end of the year. One project that has taken a significant hit is Litecoin. Despite reaching a transaction count milestone, its price has dipped sharply in the past few months.
Affected investors are divided between NuggetRush (NUGX) and Avalanche (AVAX). The latter is an established project with a TVL of nearly $500 million. Yet, NuggetRush’s approach to Web 3 gaming could make it an investor favorite.
Which of the three is a top ICO project? Let’s discuss.
Litecoin Hits A Transaction Milestone – What Does This Mean For LTC?
Litecoin is celebrating its 12th anniversary with a celebration of a record in transaction processing in 2023. In 2022, Litecoin (LTC) had completed 39 million transactions. However, Litecoin upped that number to 51 million in 2023 despite the recent halving of its block rewards. Litecoin’s mining rewards were halved from 12.5 LTC to 6.25 LTC on August 2.
However, Litecoin’s transaction record has failed to stop the LTC price decline. LTC’s volatility in 2023 has led analysts to fear a drop to $53.00. By September 1, LTC had fallen to $63.01. Yet nearly six weeks later, LTC had fallen by 1.3% to $62.16 by October 17.
Analysts say the LTC fall is due to overwhelming bearish sentiments that dominated the crypto market in 2023. These analysts conclude that LTC could drop further if the bearish sentiments linger. They say LTC could then drop by 15.2% to $52.65.
NuggetRush: Web 3 Game Designed for Mining Lovers
Mining games have grown in popularity due to their ability to challenge a player’s decision-making and resource-management skills. NuggetRush (NUGX) is a new addition to the world of GameFi that perfectly suits the desires of mining lovers.
The game offers a robust challenge of starting from a small piece of land to the opportunity of building a mining empire. Its players are supposed to find and collect character gems and mining equipment that will help their mining objectives.
These collections also come with high-earning potential. Players can trade these collectibles for real-world assets on the NuggetRush (NUGX) marketplace. For instance, players can trade RUSHGEM NFTs for gold.
Another attractive feature of NuggetRush (NUGX) is that it helps players support small-scale mining communities in third-world countries. Furthermore, it offers massive rewards through tournaments and competitions.
NuggetRush’s (NUGX) blockchain ICO just entered Stage 1 of its presale, costing $0.010. By the next round, NUGX value would have risen by 20% to $0.012. Furthermore, each stage of its presale will offer token-claiming opportunities to token holders.
Avalanche’s (AVAX) TVL Drops Below $500 Million
The crypto market has been bearish in the past few weeks. Projects like Avalanche (AVAX) suffered a significant drop in Total Value Locked (TVL). Avalanche’s TVL was around $722 million on July 14. However, it has fallen to $495 million by October 18.
The drop in Avalanche’s TVL is evident in AVAX’s market performance. On July 14, AVAX was trading at $14.64. Yet, AVAX has dropped by 37.7% to $9.11 by October 17.
Like other top altcoins, Avalanche (AVAX) has been affected by the high volatility of 2023. Ironically, Avalanche’s partnerships in the tokenization industry have failed to prevent AVAX’s decline.
So, although Avalanche is one of the top DeFi projects, AVAX might not be a good investment at this time. Still, some analysts say AVAX could rise by 21.7% to $11.03 when the crypto market enters a bullish trend.
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