TLDR:
- Top banks in the United States have submitted a letter to the SEC, which will see them play a bigger role in crypto.
- VeChain (VET) has teased major developments, sparking a 65% price pump.
- NuggetRush (NUGX) has gained 80% recently, but looks to extend its gains as it prepares to launch a one-of-a-kind gaming platform.
The first month after the spot Bitcoin ETF approval has been largely bullish, with record liquidity inflows being seen over the past few weeks. Big banks in the United States are now pushing to become a part of the action, submitting a letter to the SEC.
As the market sentiment improves, VeChain (VET) has emerged as one of the biggest gainers, with the altcoin price increasing by more than 65%. NuggetRush (NUGX) has seen even bigger bullish action, rising by 80%, but looks set for even bigger gains in the coming weeks.
Big Banks Push for More Bitcoin (BTC) Exposure
A trade group coalition comprising the American Bankers Association, Bank Policy Institute, Financial Services Forum, and Securities Industry and Financial Markets Association sent a letter to SEC Chair Gary Gensler.
In the letter, these big financial institutions urged the SEC to re-adjust the definition of crypto assets so as to allow them to gain more exposure to Bitcoin and other cryptos. As per the letter, these banks hope to act as custodians to the recently approved spot Bitcoin exchange-traded funds.
The letter highlighted that big banks were absent from the recently approved spot Bitcoin ETFs. These banks want it to be easier for them to hold Bitcoin and provide crypto custody services.
NuggetRush (NUGX) Poised for 50X Surge Ahead of Launch
As the crypto market sentiment improved over the past few weeks, the price of NuggetRush (NUGX) has increased by 80%. However, NuggetRush looks poised for even bigger gains as the DeFi project prepares to debut a one-of-a-kind GameFi project.
NuggetRush is revolutionizing the play-to-earn opportunities to fulfill the most common aspirations of P2E enthusiasts. To ensure a captivating and fulfilling experience, NuggetRush blends mining adventures with multiple income-generating paths. The game’s primary objectives include establishing a mining operation in search of gold and other precious minerals.
Players require workers and mining equipment in order to succeed in finding the gold. Numerous NFT characters with backgrounds in mining and entrepreneurship are included in NuggetRush. Players have to find the right workers and incorporate them into their mining operations.
Gamers can also modify their mining gear on a constant basis to improve the efficiency of their activities. NuggetRush’s blockchain ICO is nearing its end after successfully selling over 184 million of its ERC20 coins by round five of its public presale.
After trading at $0.018 in round five of its presale, NUGX’s value is expected to rise to $0.020. As one of the hottest new DeFi projects, crypto experts have forecasted gains of up to 50x after the game launches.
VeChain (VET) Surges 65% on Major Announcement
As the crypto market trends higher, VeChain (VET) has been one of the best altcoins to buy. On the weekly chart, the DeFi coin price has increased by more than 65% to trade above $0.0500. The latest rally comes in anticipation of a major announcement.
The VeChain team indicated in an X post that an announcement about a major milestone will be made during the MWC 2024 Event in Barcelona. The group mentioned that in order to improve blockchain technology, VeChain was collaborating with some of the largest brands in the industry.
In Summary
Large banks’ decision to increase their exposure to Bitcoin is indicative of the rising optimism surrounding cryptocurrencies. Two of the best altcoins for investors to hold for significant gains are VeChain and NuggetRush, with significant announcements anticipated in the upcoming weeks.