Solana and Cardano whales seek alternatives, diversify to NuggetRush
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As Solana grapples with potential declines from ecosystem turbulence, Cardano may see unexpected growth, while NuggetRush attracts with growth potential.
The Solana (SOL) ecosystem has witnessed a depressing relapse from its market capitalization all-time high of over $81 billion in March. A series of activities have caused significant congestion on the network, increasing delayed processing times and failing transactions. As a result, SOL and its meme coins, previously considered the most sought-after bullish altcoins, are facing declines.
Cardano (ADA) investors are losing interest as their enthusiasm wanes due to slow development pace and perceived shortcomings. Cardano and Solana whales seeking alternative investment options are diversifying to a new ICO on the blockchain, NuggetRush (NUGX).
The project is one of the leading meme coins listed on the defi crypto-list with a trifecta of offerings: a play-to-earn game, impact gaming backed by non-fungible tokens (NFTs), and real-world rewards.
Crypto mining game in the spotlight
With the popularly known bullish altcoins failing, NuggetRush has fully entered the spotlight with a presale journey that has raised over $3.8 million. The project has gained traction over the past months, but the recent interest from SOL and ADA whales has added more attention to the token and its blockchain offerings. NuggetRush offers a gold rush through GameFi, using gaming tokens that control the ecosystem and promise players a captivating experience.
The fun gameplay on this blockchain ICO is built in a virtual world where players must mine for treasures using artisanal mining characters to scale their mining operations and boost their winning chances. The key to acquiring these gaming characters is purchasing NUGX tokens, which are set to be listed at $0.020 apiece.
This will offer a 100% increase to the earliest investors who bought them at $0.010 in the first presale round. Over 270 million units of these tokens have been sold, showing the progressive state of the project’s community.
Aside from the gaming tokens on the platform, players can claim RUSHGEM NFTs, rare digital assets that offer rewards. These NFTs can be traded for real gold or cash, which the platform, through partnerships, would get delivered to players’ doorsteps. The blockchain ICO offers up to 20% APY to players who lock their NFTs in a staking protocol.
NUGX has been predicted to climb to $1.00 in a short while, and the whales flocking out of Solana and Cardano’s ecosystems are determined to enjoy these rewards.
Solana ecosystem’s future and integrity threatened
Solana’s camp has been facing overwhelming turmoil, causing significant whale outflows. Projects within its ecosystem are launching DDOS (Distributed Denial of Service) attacks on each other to gain the upper hand. These attacks work by engulfing the network with traffic, occupying the needed block space, which will prevent the processing of transactions.
These activities, which validator’s data have confirmed, have overtly increased the number of failed SOL transactions by 75%, and the aggressive antics have gone even further, spamming individuals’ accounts with hundreds of bots, declaring them unusable.
In another unfortunate series of events, Telegram’s Solareum trading bot has been discovered to be the perpetrator of a massive security breach that led to the theft of SOL coins worth over $500,000. It was gathered that over 300 Solana users are victims of this dastardly exploit.
The bot caused a ton of failed non-voting transactions on the network and has been shut down. Between the DDOS attacks and the token losses, Solana has witnessed over 7% outflows and is now trading between $172 and $180.
Cardano’s volatility amid bullish patterns
Cardano, the utility-backed cryptocurrency, has struggled to maintain its footing over the past months. Investors remain impressed by its technology, but criticism of its development pace and perceived shortcomings are heightened. The token has been tagged as underperforming, recording nearly a 30% decline in the past month. Only a 4% growth has been observed this year.
The token has been experiencing increased volatility in the past thirty days, fluctuating between $0.49 and $0.75. Still, top analyst Dan Gambardello has predetermined a parabolic rise that could see ADA continuing its bullish pattern and hitting 10x gains in the upcoming bull run.
Conclusion
Dissatisfaction is increasing among both SOL and ADA retail investors and whales as the overall quality of their experience on the network declines, and their investments lose value. Not to be caught on the losing end, these investors are pitching their tents elsewhere, shifting focus to the upcoming altcoin offering growth potential, NuggetRush.
To learn more, visit the NuggetRush presale website.
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