Key Takeaways:
- Kucoin settled the NY regulatory lawsuit with $22 million, causing its token to plummet in the parallel market.
- NuggetRush’s presale journey is progressing as it hits nearly 1 million in sales.
- The upcoming ICO merges GameFi and impact gaming, attracting attention to its revolutionary model.
The crypto market is constantly experiencing volatility, making it a tumultuous scene for interested investors. Those who dare to partake must be willing to bear any losses they may incur while seeking the best cryptocurrency to invest in.
The US authorities have been enforcing regulatory vigilance to protect their citizens, taking legal action against top players in the crypto industry. Kucoin (KCS) caught the attention of the authorities in New York, and the lawsuit’s proceedings have caused its native token to plummet by 16%.
It’s not all gloomy in the market, as NuggetRush (NUGX), an up-and-coming meme coin, records a successful presale, exceeding expectations and hitting milestones. In an unexpected move, the token has raised over $950,000 for further development.
Investors are rushing towards this project to earn high returns from its significant success. This article explores the notable drop in Kucoin’s DeFi coin price and NuggetRush’s ascent as its presale progresses.
NuggetRush (NUGX): Merging GameFi and Impact Gaming
NuggetRush has raised a whopping $950k from its surging presale so far. This phase was set up to offer early entry to potential investors at discounted prices, recording impressive success. The NUGX presale is split into five rounds to give the earliest investors the best returns. Round one sold at 0.01 USDT, offering a 100% increase for early NUGX backers.
Over 86 million tokens have been purchased, and the enthusiasm with which investors are acquiring them spells a successful run for the project as it aims to hit a hard cap of 215 million tokens.
The NuggetRush presale is currently in round three, and each token is selling at 0.013 USDT, a 53% increase pending the token list at a DeFi coin price of 0.02 USDT. Less than 23% remains for the ongoing round, after which the price will rise to 0.015 USDT.
This blockchain ICO is attracting much attention because of its play-to-earn mechanism. Within its ecosystem, investors can engage in exciting gameplay hosted in the metaverse, where they can explore mines in search of treasures and enjoy a thrilling gold rush while at it.
Players could develop their characters to survive the journey and earn rewards with real-world utility delivered to their doorsteps. With this model, even artisanal miners in underdeveloped regions would benefit from the returns.
Earning on NuggetRush’s platform is not limited to GameFi. Token holders can join the Rush Guild, which offers members exclusive rewards and access to governance rights.
The staking protocol on this platform also gives investors a 20% APY, rewarding them for staking, increasing demand for the token, and possibly causing its market value to surge. The NFTs earned from gameplay on this upcoming blockchain ICO can also be traded on the platform’s peer-to-peer marketplace.
Kucoin (KCS): Supporting Decentralized Financial Services
KCS is facing a decline in the market as its coin price plummets. Its parent company, Kucoin, is suffering from a crackdown on regulatory blockchain activities in the US. The lawsuit, which Attorney General Letitia James initiated in March, sanctions the leading cryptocurrency exchange for failing to register its platform before offering trading services on Kucoin to citizens of New York.
New York’s Supreme Court revealed that Kucoin has agreed to pay a $22 million settlement. Of the $22 million, $5.3 million is a fine to the state, while the remaining $16.7 million would be used to refund about 178,000 affected New York investors.
The exchange would also be mandated to terminate access for users residing in the state. Its native token, KCS, has dropped by 16% in the parallel market as investors react and market sentiment shifts in response to the news.
Conclusion
The crypto market is experiencing a shake-up as authorities crack down on significant players regarding regulation. Kucoin, which has received this attention for months, has finally settled, paying $22 million in fines and accepting to bar New York residents from its platform. Its native token is suffering from this change, plummeting by 16%.
The downturn didn’t deter investors, and in their search for the best cryptocurrency to invest in for significant returns, they have turned their attention to NuggetRush. The project’s presale has raised nearly a million dollars and continues to surge. As it concludes its third stage, investors can purchase tokens using Tether, Bitcoin, Ethereum, and Visa.
