TLDR
- Tron’s network activity remains high as its transaction count reaches 4.6 million. Still, TRX has failed to break above $0.09.
- NuggetRush (NUGX) unveils a play-to-earn game that offers the complete mining experience. The game also gives players higher utility for their in-game collectibles.
- Dogecoin (DOGE) leads the way in meme coin losses as lack of utility still affects the industry.
The recent conflict in the Middle East is affecting global markets, thus dampening the growth prospects of many cryptocurrencies. Still, Tron (TRX), NuggetRush (NUGX), and Dogecoin (DOGE) are on investors’ radars.
Tron’s high daily transaction count in the past few months is wooing investors. Likewise, the ongoing presale of NuggetRush’s mining game is gaining attention in the GameFi community. For Dogecoin, analysts say it still holds potential despite losing $2 billion in market cap in 2023.
Which of the above will be the best cryptocurrency investment? Let’s discuss!
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Tron (TRX) Averages Nearly 5 Million Transactions Per Day
In terms of network activity, few of the top DeFi projects can compare their on-chain metrics to Tron. Data from Nansen.ai showed that as of October 15, Tron (TRX) has averaged 4.6 million daily transactions. Its daily active addresses also averaged around 2 million per day.
However, Tron’s high network metrics coincide with TRX’s struggles to break above the $0.090 mark. On October 1, TRX traded at $0.090. Yet, it has since fallen by 2.2% to $0.088 as of October 17.
Tron’s (TRX) high network metrics could be due to its recent partnerships. On October 4, Tron (TRX) announced a partnership with GT Protocol. The partnership would bring AI-powered automation within the reach of Tron (TRX) users.
Analysts conclude that if Tron could maintain such high metrics, TRX could to $0.120.
NuggetRush (NUGX): Play-to-Earn Game for Mining Enthusiasts
GameFi offers the opportunity to earn money from video games that individuals are passionate about. Despite GameFi’s popularity, there has not been any project that caters to the whims of mining enthusiasts like NuggetRush (NUGX).
Native to Ethereum’s decentralized network, NuggetRush is a mining game that offers special rewards to players for their in-game activity. It offers a comprehensive gaming experience, allowing players to go from novice miners to building mining empires.
Furthermore, the game offers an upgrade to in-game earning potential. Players can trade in-game assets on NuggetRush (NUGX). They can also stake their NFTs, which increases their earning potential. Finally, players can trade their RUSHGEM NFTs for real-world gold.
NuggetRush’s (NUGX) presale just kicked off, so the project is in Round 1. NUGX’s current market value is $0.010. By the next round, NUGX would have gone up by 20% to reach $0.012. Investors who buy NUGX now have the best chance of capitalizing on a top ICO project, especially considering the listing price of $0.020.
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Dogecoin (DOGE) Loses $2 Billion In 2023
Despite the media resurgence of the meme coin industry, the sector has lost a significant chunk of its value in 2023. This loss is mirrored perfectly in the massive losses suffered by Dogecoin (DOGE).
At the start of 2023, Dogecoin (DOGE) had a market capitalization of $10.83 billion. Yet, it had fallen to $8.37 billion by October 18. Despite losing 2.46 billion in market capitalization, Dogecoin (DOGE) remains the largest meme coin project.
Like Dogecoin’s market capitalization, DOGE’s value has fallen consistently since July. Despite trading at $0.081 in late July, DOGE has fallen by 27.1% to $0.059 by October 17.
Analysts say Dogecoin’s (DOGE) fall could continue as investors favor projects with higher real-world value. If this trend continues, DOGE could fall to $0.048.
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