- Toncoin’s recent price surge suggests a potential downturn, but decreased user activity and a drop in confidence suggest otherwise.
- Chainlink is experiencing growth due to a partnership with Avalanche, with bullish sentiment remaining high despite recent fluctuations.
- NuggetRush has garnered attention with its play-to-earn game and NFTs, making it a promising investment option.
Toncoin (TON) is one of the bullish altcoins, and it performed impressively this week following a market-wide resurgence. The price of TON has delivered more than an 18% upside increase since last week, but analysis shows that the push could break off soon. According to on-chain reports, activity on Toncoin has dropped since its peak in the previous week of March as daily active addresses depleted.
This means that user interaction has declined, affecting demand for Toncoin. With demand down, it suggests a potential bearish downslide coming. If recent activity continues to hold, Toncoin could suffer a dip in its price soon. Another bearish signal is the Gino index, which measures the distribution of coins to addresses. Toncoin’s index has been dropping since March 24th. This development means holders are no longer confident in TON, and are cashing out.
If this lack of optimism continues, the price of TON might suffer a bearish correction. Fortunately, with the surge of bullish altcoins, bullish sentiment is still high, thanks to recent hype surrounding the platform’s development. Should on-chain performance remain the same for Toncoin, TON could fall short of its $5 target. Right now, traders are still determining the next direction of Toncoin.
Chainlink (LINK) Receives Positive Boost From Bullish Sentiment
After its short-lived consolidation at the beginning of the year, Chainlink (LINK) has started showing signs of growth. Its token price has risen by more than 5% in the past week thanks to its recent partnership with Avalanche (AVAX). LINK is trading with a bullish bias, hitting higher prices since the bull run started in October.
Despite its fall of over 8% last month, around 95% of Chainlink holders are in profit, with the rest at break even but not selling. This shows that the bullish sentiment surrounding LINK is at highs, with investors looking to protect their capital regardless. Although its price is pushing down, many buys are at around the $16.12 price, and a visit there could trigger a bullish surge above LINK’s recent high.
NuggetRush (NUGX) Clears Doubts With Phenomenal Early-stage Performance
NuggetRush (NUGX) has delivered stellar growth thanks to the high demand for innovative meme coins with high growth potential. Life-changing gains are mostly found in fresh tokens, especially presale tokens, and this is where NuggetRush shines. It is a meme token that runs a DeFi project packed with trendy features. Thanks to high anticipation for the platform launch, NUGX ranks as the best crypto to invest in.
Meme coins have been repeatedly criticized for having little to no utility, leading to their struggle. So far, NuggetRush has turned its doubters into supporters with the performance of its presale. NUGX has rallied from $0.01 to $0.019 throughout the event, delivering 90% returns to early investors. NUGX has been bullish for months because of the value of its combination of a play-to-earn game, staking rewards, and the best NFTs to invest in baked into the project.
The gameplay requires users to mine for in-game assets that can be traded for money. These assets are in the form of precious natural minerals, stimulating real-world mining. The in-game avatars doubles as highly valuable NFTs. There’s also a rare RUSHGEM collection that holders can use to secure real gold. This gives NuggetRush’s NFTs tangible value, making them the best NFTs to invest in for DeFi users. NFT holders can stake them for a 20% annual percentage yield.
So far, NuggetRush has raised over $3.75 million, charging towards the $4 million milestone before it launches. The token will be listed on exchanges immediately after the launchpad stage, and skeptics turned supporters expect it to deliver explosive gains, making it the best crypto to invest in for the year.
Final Thoughts
Although Toncoin has declined in on-chain engagement, it can still recover lost gains. The development of the ecosystem confirms this potential, with holders being largely profitable even during a market downturn. Meanwhile, buyers are already positioning for Chainlink’s upcoming surge. NuggetRush is getting closer to launch and experts advise getting in as soon as possible.
