TLDR:
- dYdX will be unlocking 33 million DYDX tokens on February 1st.
- Polygon Labs has proposed a new regulatory framework that will help to combat illicit activities in the DeFi space.
- Analysts have predicted a 50x price increase for NuggetRush.
DYdX is set to unlock 33 million DYDX tokens on February 1st, a move that could affect its price in the coming weeks. In other news, Polygon Labs has released a proposal that aims to curb illicit activities in the DeFi space. Analysts predict a 50x price growth for NuggetRush, making it the best cryptocurrency to purchase in the meantime.
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NuggetRush (NUGX) Poised for Massive 50x Surge in 2024
A new DeFi project, NuggetRush (NUGX), has captivated the attention of the crypto community for blending the thrill of gold mining with cryptocurrency. It’s an Ethereum blockchain-based game set to transform the GameFi sector.
NuggetRush offers a hyper realistic play-to-earn game that recreates the famous gold rush. Gamers can work together to finish conquests, scour for gold, and receive rewards, or they can compete for prizes.
Because of this, NUGX, the native token of the project, is a great contender to be the best crypto investment for 2024. In this virtual platform, players hunt for valuable minerals they can turn into rewards.
Also, the platform features two trending NFT collections. The first is for gaming characters that players can collect, while the second is for RUSHGEMS NFTs, which can be traded for actual gold.
So far, NuggetRush has successfully sold over 168 million tokens in the first five rounds of its presale. NUGX is currently priced at $0.018. Market experts are forecasting a 50x increase in the token’s price soon.
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dYdX (DYDX) To Unlock More Tokens, Price To Drop?
dYdX (DYDX) is set to release over 33 million DYDX tokens, valued at around $90 million, on February 1st. This major token release is the second in 2024 after its first release on January 23rd.
Token Unlocks reported that the protocol plans to distribute $49 million worth of tokens to its investors. The team and future employees will also receive $27 million and $12.5 million worth of tokens, respectively.
It is uncertain if this token unlock will affect the dYdX token. So far, the token is exchanging hands at the $2.53 – $2.89 price range with a 2.1% gain on the weekly chart.
Polygon (MATIC) Makes Proposal To Combat Illicit Activities in the DeFi Space
Arktouros law firm and Polygon Labs have proposed a new regulatory framework that aims to stop illegal financial activities within the DeFi sector. This proposal was released on January 29th by Katja Gilman, Rebecca Rettig from Polygon Labs and Michael Mosier, the co-founder of Arktouros.
Polygon gave a three-step solution to solve the legal challenges in the DeFi space. It also recommended that the US Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) oversee decentralized DeFi protocols.
The recent proposal highlights Polygon’s commitment to ensure a safe DeFi sector. Its native token, MATIC, is up 12.5% on the weekly chart.
Final Thoughts
There is a bullish wave in the DeFi market, evident from dYdX and Polygon’s upward price movement. Those looking for the best DeFi project to join should consider NuggetRush, which is priced at just $0.018, even with its numerous features.
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