TLDR:
- The Altcoin Season Index from blockchaincenter.net has signaled the arrival of the ‘altcoin season.’
- Top altcoins, Ethereum and Sui, have outperformed Bitcoin and would look to extend their gains in the coming weeks.
- Meanwhile, NuggetRush has emerged as the breakout project of 2024, thanks to its real-world use case.
There have been talks of an altcoin season since investor sentiment post BTC ETF approval has favored altcoins over Bitcoin. In the cryptocurrency market, an altcoin season occurs when other altcoins outperform Bitcoin.
In the past ninety days, 75% of the top 50 altcoins have outperformed Bitcoin, according to the Altcoin Season Index on blockchaincenter.net. This measure indicates that an altseason is likely to occur in the upcoming weeks.
Let’s find out why Ethereum (ETH), Sui (SUI), and NuggetRush (NUGX) are among the top altcoins to watch in the coming weeks.
NuggetRush (NUGX) Set for Massive Gains in 2024
One of the top altcoins that has gained massive traction over the last few weeks is NuggetRush (NUGX). This new community-focused play-to-earn (P2E) game has launched an immersive mining virtual world. In addition to an immersive gameplay experience, NuggetRush has created a medium where players can earn substantial in-game rewards.
Players in NuggetRush can own mining operations, build and stake character NFTs to earn huge returns, and even stake NUGX coins. They receive access to some of the best NFTs to buy, such as RUSHGEM NFTs. These NFTs are unique thanks to their real-world use case.
A fascinating feature is that these rare RUSHGEM NFTs may be exchanged for real gold and delivered right to the gamers’ doors. Another key standout feature of NuggetRush is its impact gaming model in the real world. Although players can get money and gold, part of these rewards is given to miners from third-world countries.
It is considered amongst the best altcoins to invest in by analysts as it has fused fun elements and real-world use cases. Investors have shown great interest, with NuggetRush very close to selling out their cryptocurrency ICO. NUGX, the native token of this project, has skyrocketed as high as $0.015. Nevertheless, as the altseason progresses, according to analysts’ estimates, NUGX could increase by up to 25x.
Ethereum (ETH) Holds Key Support As Market Dominance Rises
One of the main winners from the SEC decision on Bitcoin ETF is Ethereum (ETH). The price of Ethereum has risen by over 11% on the weekly chart, maintaining its position above the crucial $2,500 support line. With its latest surge, ETH’s gains over the last 60 days have already reached 30%.
In the same time frame, Bitcoin has only increased by 18%. According to CoinMarketCap data, this has caused Ethereum’s market share to rise to 18% while Bitcoin’s has decreased to 49.7%. The assertion that the altcoin era will begin shortly has been reinforced by this impressive performance vs Bitcoin.
Sui (SUI) Soars To New All-Time High Amidst Surge in TVL
Compared to Bitcoin, Sui (SUI) has had one of the most impressive growths. While the TVL of Bitcoin has declined to $297 million, SUI’s TVL has surged to over $322 million. The number of dApps on the Sui network has also increased to 24.
The value of SUI has increased significantly as a result of its network’s expansion. On the monthly chart, the price of the Sui cryptocurrency surged to a new all-time high of $1.45, a gain of more than 110%. If Sui keeps moving higher, it should soon try to break above the $1.50 threshold.
Closing Thoughts
The best options for investors wishing to diversify their portfolios and maybe profit from the altcoin season are NuggetRush, Sui, and Ethereum. However, due to its practical application, NuggetRush has been rated as the most bullish of the three coins, even though all three will see significant price increases.
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