In ongoing NuggetRush (NUGX) presale, Bitcoin (BTC), the world’s largest coin by market cap, is extending its dominance, looking at CoinMarketCap (CMC) data.
As of early November 2023, the Bitcoin dominance level stood at over 51.4%, one of the highest levels in recent days. The expansion of Bitcoin’s dominance highlights its role in crypto and its impact on altcoins and general sentiment.
NuggetRush Raises $300,000 in Ongoing Presale
As Bitcoin gnaws market share, NUGX, the native ERC-20 token of NuggetRush, is also being explored by investors. Less than six weeks since launching, NuggetRush has sold over $300,000 of NUGX. In Round 1 of the presale, NuggetRush raised over $200,000, which has since increased as more investors consider the project in their portfolios. In stage 2, each NUGX is available for 0.012 USDT.
Already, over 60% of allocated NUGX for this stage has been sold, pushing the total amount of tokens sold to over 30 million.
The demand for NUGX remains relatively noteworthy despite the general state of the crypto market. Crypto investors and traders are still apprehensive, with most taking a wait-and-see approach before loosening their purse strings and splashing into high-growth projects, including NuggetRush.
As Bitcoin prices recover, springing higher to new 2023 highs, more investors will likely explore some of the top altcoins.
Exploring NuggetRush
NuggetRush aims to take a new approach to crypto and meme coins. The project is launching on Ethereum, the first smart contract platform, and releasing an ERC-20 coin, NUGX, that will be used to reward players of its play-to-earn (P2E) game.
Additionally, the platform integrates decentralized finance (DeFi). In this way, NUGX will be used to reward users who choose to stake their rare non-fungible tokens (NFTs).
At the same time, NUGX is deflationary. Accordingly, circulating supply will be burnt (sent to an irretrievable address), reducing supply over time. Tokens integrating this design tend to find support, with BNB and Ethereum (ETH) as prime examples. In total, there are 500 million NUGX, according to NuggetRush tokenomics.
NuggetRush’s in-game assets will also exist as NFTs. They are unique and can be traded in the platform’s peer-to-peer (P2P), where holders can swap them for NUGX or some of the top NFTs to buy, depending on their priority. Even so, all operations will be payable in NUGX since it is the medium of exchange within the platform. To spark on-chain activity, there is no buy or sell tax on NUGX, benefiting active gamers.
Bitcoin Market Dominance Rising
Subsequently, crypto sentiment may improve, a bullish development, especially for altcoins, most of whose prices are down by over 90% since the 2021 peaks.
If past performance guides, a recovering market may see more investors examining emerging projects.
Conclusion
Bitcoin is the most liquid coin, and its rising market dominance is no surprise. Whether this could positively influence altcoins and new projects, remains unknown. However, considering the NUGX pricing structure in the ongoing presale, supporters are bullish.
Visit NuggetRush Presale Website
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