Avalanche network is gearing up for the Durango upgrade on February 13th and a token unlock on February 22nd.
Ethereum whales have moved 15,000 ETH to the Beacon Depositor.
Analysts have predicted a 50x surge for NuggetRush post-launch. 

The Avalanche network is looking forward to two major events this February. There is the Durango upgrade set for February 13th, and the token unlock on February 22nd. Meanwhile, Ethereum is witnessing huge activity from whales as a wallet sends 15,000 ETH to the Beacon Depositor. In other developments, analysts are forecasting a 50x surge for NuggetRush post-launch, positioning it as a top crypto to invest in. 

Analyst Forecasts 50x Surge for Play-to-Earn Gaming Platform NuggetRush (NUGX) 

NuggetRush (NUGX) is a platform that blends GameFi, play-to-earn (P2E), and Non-Fungible Tokens (NFTs) into a single ecosystem. The upcoming P2E game is set to make waves in the gaming community with its gold mining project. 

Players will be tasked with creating their own mining operations, forming teams of either fellow gamers or digital characters within the game. Notably, these characters will also serve as NFTs. This makes them valuable as part of NFT collections and as interactive game elements. The game promises an engaging gameplay experience and the chance for players to earn rewards. 

Players can trade or exchange their in-game assets on the NuggetRush marketplace for actual money. This positions NuggetRush as a strong competitor to existing gaming platforms. Meanwhile, the P2E token, NUGX, will serve as the official in-game currency. It will give holders decentralized governance rights and influence over the game’s development and the broader ecosystem.

NuggetRush’s blockchain ICO is currently in the fifth round, with its native token, NUGX, priced at $0.018. Analysts and market experts have forecasted a 50x increase post-launch, citing its features and low market cap.

Avalanche (AVAX) Awaits Two Major Events In February 

One of the leading altcoins, Avalanche (AVAX), is getting ready for two key events in February 2024. The initial event involves the Durango upgrade on a testnet, slated for February 13th. Following this, 9.54 million AVAX tokens will be unlocked on February 22nd. This release represents 2.60% of Avalanche’s current circulating supply.

AVAX’s price and circulating supply may be impacted by the token unlock and airdrop, which is why investors are watching these events closely. Additionally, after the most recent token unlock in November, the price of Avalanche decreased. 

Thus, something akin to this might happen during the February unlock. The current pricing range for Avalanche’s AVAX is $32.43 to $37.19. On the 14-day price chart, the altcoin price is up 14.1%, despite a 4.1% decline on the 7-day chart.

Ethereum (ETH) Whale Moves 15,000 ETH

According to Whale Alert, an Ethereum  (ETH) whale has moved 15,000 ETH (worth $34.8 million) to the Beacon Depositor. This transfer has caught the attention of the crypto community. The movement to the Beacon Depositor, an integral part of Ethereum’s Beacon Chain, suggests a potential usage in staking.

At the same time, there has been a huge change in Ethereum holders’ actions. Over 510,000 ETH (worth $1.22 billion) has been moved out of crypto exchanges in the last three weeks.

This significant Ethereum outflow to wallets is indicative of strong holding patterns among investors. A positive attitude regarding the token’s future price trajectory is also evident.

Even with the significant withdrawal from exchanges, Ethereum is still trading below $2,500. On the weekly price chart, the coin trades between $2,247.72 and $2,379.82, according to CoinMarketCap.

Final Thoughts 

The withdrawal of Ethereum from exchanges is an indication that the cryptocurrency industry is becoming more optimistic. Traders and investors now have the chance to increase their stake in top crypto coins like NuggetRush, which are currently in the presale stage and will soon go live.

Visit the NuggetRush Presale Website

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Filed under: Bitcoin - @ February 8, 2024 8:00 pm