Main Content:
- A total of $13.6 million in ETH investments were lost in just one week, marking the largest outflow from Ethereum in months.
- On the other hand, during the same period, Ripple (XRP) reported inflows exceeding $500,000.
- NUGX, which sold over 162 million tokens, also attracted a lot of attention from investors.
The week ended with cryptocurrency products leaking for the first time in weeks. Ethereum (ETH), one of the top cryptocurrencies, recorded net outflows of over $13.6 million as the cryptocurrency market corrected.
Despite net outflows, some top altcoins such as Ripple (XRP) and NuggetRush (NUGX) have seen significant inflows. Let’s find out why these altcoins have been able to attract investors amidst declining sentiment across global cryptocurrency markets.
>> Buy NuggetRush Now <
$13.5 million leaked due to plummeting Ethereum (ETH) price
This was the first outflow of cryptocurrency products in months as investor sentiment fell following the approval of the BTC ETF. CoinShares reported that more than $20.8 million left cryptocurrency products in the third week of January.
According to the report, Ethereum suffered the second largest outflow. The leading altcoin recorded an outflow of $13.6 million, surpassed only by Bitcoin. Ethereum’s poor price performance in the market has highlighted bearish sentiment.
On the weekly chart, ETH price is down 12.5%. Accordingly, the price of Ethereum fell to the $2,200 level for the first time since early January. This decline has led some investors to migrate to other altcoins that are performing better in the market.
NuggetRush (NUGX) sells 162 million tokens and sees a 20% increase in price.
As ETH declines, the focus is now on NuggetRush (NUGX), a cryptocurrency ICO project that has already sold over 162 million tokens in a matter of weeks. NuggetRush features a unique integration of Play-to-Earn games, meme coins, and DeFi elements. With this, the P2E gaming platform aims to revolutionize the meme coin market.
NuggetRush takes players into an immersive gaming environment that aims to recreate the reality of the gold rush. The game is unique in that it promotes partnerships and face-to-face sessions between members. Players are more incentivized to build teams of people as they expand their mining operations and search for gold and other valuable minerals.
The rewards that NuggetRush pays out to players are not only virtual. NuggetRush is one of the best DeFi projects by offering tokens that can be exchanged for real money and gold. Because it is a community-based project, the team plans to transfer ownership of the smart contracts to players once the game is released.
NuggetRush, which is scheduled to launch this quarter, has been building heads of steam. The starting price of NUGX, an ERC20 coin, ranges from $0.01 to $0.018. With a very unique project and massive community support, experts predicted that NUGX could surge 50x before its launch, making it one of the best meme coins to invest in.
Ripple (XRP) sees net inflows and shows signs of market recovery
Ripple (XRP) is another top altcoin that has maintained investor confidence even during the market-wide decline. The CoinShares report highlighted that XRP products have seen inflows of over $500,000, bringing annual inflows to $4 million.
However, unlike NugetRush, XRP was unable to avoid the overall market slump. Ripple coin price fell 11% on the weekly chart. However, the bulls for XRP have maintained the $0.5000 support level, which is very important for the upcoming upward trend.
final thoughts
The increase in demand for Nugget Rush (NUGX) is partly due to the falling prices of Ripple (XRP) and Ethereum (ETH). With numerous use cases and interesting games, market analysts predict that NUGX will be ranked as one of the best DeFi coins in 2024. This makes this a fantastic opportunity to get involved with the project now before its Q1 release.
Visit the NuggetRush pre-sale website