Day: October 21, 2023

Binance’s CEO $1 billion rescue plan fails, NuggetRush and Render keep delivering

Binance fails to implement its crypto market recovery fund, yet BNB forecasts remain bullish.
Render’s (RNDR) Stable Diffusion Jobs spur high network activity.
NuggetRush (NUGX) is building a community of interested miners to help support Artisanal miners through NFT gaming.

Binance Coin (BNB) holders have been disappointed to learn that Binance’s recovery fund has barely been utilized as planned. In contrast, Render (RNDR) network metrics have been rising in the past few months. Still, NuggetRush is attracting investors as it provides a way to increase the earning potential of gamers. 

Now, investors are wondering if NUGX can become a top ICO project. Let’s review some of the experts’ opinions to get the answer.

Binance’s IRI Fund fails to yield desired effects

On October 10, 2023, Bloomberg reported that Binance’s Industry Recovery Initiative (IRI) has not been spent as intended. The IRI was meant to boost the recovery of the crypto market following the November 2022 FTX-inspired crash. Yet, almost one year later, BNB’s Binance exchange has only spent $15 million out of the $1 billion fund.

Bloomberg’s reports come amidst BNB’s market struggles. Since the start of October, BNB has remained below $220 following the September woes that affected most tokens. BNB was trading at $213.63 on September 1. Yet, BNB fell by 23.6% to $208.58 on October 10 after Bloomberg’s report was released.

Binance claims to have spent some of its recovery funds on about 14 projects. Most notably, Binance purchased Gopax, a South Korean crypto exchange, in early February. BNB holders expect the increase in Binance’s holdings to be a massive boost for the token. 

These holders expect BNB to end the year trading at $231.34. If BNB rises further, it could become one of the best cryptocurrency investments of 2023.

NuggetRush: giving real-world utilities to the meme coin industry

Before now, meme coins had little to no real-world utility. As such, they were considered highly volatile assets. That was until the launch of NuggetRush (NUGX). Like most play-to-earn games, NuggetRush allows players to earn extra money for its immersive in-game experiences.

It consists of building a mining empire by finding mining sites and collaborating with experts and other gamers. The game lets players set up mining facilities, collect rare NFTs, and trade in-game assets on its marketplace. Furthermore, players can become “master miners” by assembling a team with unique skills to help build a profitable mining empire.

NuggetRush (NUGX) offers several opportunities to earn money from in-game activities. Players can get rewards from tournaments, quests, and battles. Furthermore, players can trade their in-game collectibles on the platform’s marketplace. It also allows players to support artisanal mining communities in third-world countries.

As NuggetRush’s (NUGX) presale is ongoing, it offers players opportunities to claim tokens. Every round of its presale offers token-claiming opportunities to token holders of that round. Yet, when NuggetRush’s presale is over, all holders are eligible to claim its remaining tokens. 

NUGX will rise from its round 1 price of $0.010 to $0.012 by the next round. Such a 20% increase would make NUGX a top crypto to buy now.

Render (RNDR) continues its impressive October recovery

Render (RNDR) network’s metrics have improved significantly over the past two economic quarters. Its Q2 metrics showed that nearly 49,000 Render (RNDR) jobs had been created. Render (RNDR) also showed a year-to-date (YTD) growth in the total number of individual frames rendered.

Its impressive network performance has led to RNDR’s sharp market recovery. Render (RNDR) was trading at $1.44 on August 17 following the market slump. Yet, Render’s rising metrics propelled RNDR up by 20.1% to $1.73 by October 14. 

Analysts have pinned Render’s (RNDR) sharp recovery on the release of Stable Diffusion Jobs introduced in Q1 2023. They conclude that RNDR could rise by 16.1% to $2.01 if Render’s network metrics remain high. 

The post Binance’s CEO $1 billion rescue plan fails, NuggetRush and Render keep delivering appeared first on CoinJournal.


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