TLDR:
- The Bitcoin exchange outflows have spiked to 8-month highs, which is a sign of bullishness for BTC.
- Shiba Inu has announced that it will adopt the DN404 token standard.
- Meanwhile, NuggetRush is closing on 200 million tokens sold with its impact gaming model.
Over $540 million have been moved off centralized exchanges, the highest outflows recorded since June 2023. Market experts have explained that this could mean many investors are preparing for a BTC price pump in the coming weeks.
In other news, the Shiba Inu team has announced that it will become one of the first top crypto coins to adopt the DN404 token standard. Meanwhile, NuggetRush continues to build momentum as it approaches 200 million NUGX-sold tokens in its blockchain ICO.
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Bitcoin (BTC) Exchange Outflows Soar To 8-Month High
On-chain data tracker, IntoTheBlock, has reported that over $540 million worth of Bitcoin (BTC) was moved off exchanges in the past few weeks. IntoTheBlock has reported that this is the biggest amount moved off exchanges since June 2023.
As per the reports of crypto market experts, huge exchange outflows often highlight the sentiment of investors. This could mean that investors are anticipating a major price surge for BTC.
In the past week, Bitcoin was stuck in the $50,700 and $52,400 trading range. A break out of this trading range could see the price of Bitcoin peak as high as $58,000 in the coming weeks. Reclaiming this level will see BTC prepare to top its ATH.
NuggetRush (NUGX) Impact Gaming Model Raises Interest
In the past few weeks, NuggetRush (NUGX) has been gaining traction over its platform, where investors, players, and all interested P2E enthusiasts can enjoy massive rewards for participation in an appealing rush for gold adventure.
NuggetRush allows players to immerse themselves in the daily routines of artisanal miners in impoverished nations. Players can enjoy the thrill of digging tunnels and manually extracting mineral resources. In addition, they can convert the digital treasures they find into real gold and cash.
What makes NuggetRush stand out among new DeFi projects is its new impact gaming model. Players are not the only ones to earn rewards on this new, exciting game. The NuggetRush team has announced that a portion of its revenue will be sent to artisanal miners in developing nations to improve their lives.
The team has also noted that the smart contracts of the project will be renounced after launch, giving ownership to its community. This has fuelled a massive interest in the project, with approximately 200 million NUGX tokens sold out. While NUGX is currently valued at $0.018 per coin, analysts have forecasted a 25x price surge in Q1, making it one of the best cryptos to invest in today.
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Shiba Inu (SHIB) To Adopt the DN404 Token Standard
Despite being initially launched as a meme coin, Shiba Inu (SHIB) is beginning to push innovation in the cryptocurrency space. The Shiba Inu team has announced that it will be one of the first top networks to adopt the DN404 token standard.
The innovative DN404 “Divisible NFT-404” standard blends features of both fungible and non-fungible tokens. DN404 was created to achieve “full compliance” with the established ERC-20 and ERC-721 frameworks.
This new NFT token model enables the fractionalization of digital assets and lowers transaction fees for trading these assets. The Shiba Inu team is betting on DN404 as an innovation that could potentially revolutionize how digital assets are perceived and utilized.
Closing Thoughts
The increasing outflow of Bitcoin from exchanges shows that investors are still expecting a major price surge. Shiba Inu could benefit from this price surge as it looks to adopt DN404. Meanwhile, NuggetRush could be the best crypto investment, thanks to its innovative impact gaming model.
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Disclaimer: The text above is a press release that is not part of Cryptonews.com editorial content.
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