Hong Kong has greenlighted spot ETFs for Bitcoin and Ethereum.
Solana has jumped above $150 after the weekend bloodbath.
NuggetRush is showing a bullish pattern reminiscent of the 2020 SOL 100X rally.
In a move to establish the region as a cryptocurrency hub, Hong Kong has greenlighted several spot ETFs for Bitcoin and Ethereum. The move has sparked a rally in the broader crypto market, causing Solana to recover above the $150 level. Meanwhile, NuggetRush is showing the same potential that made SOL one of the 100x tokens of 2020.
The Hong Kong Securities and Futures Commission (SFC) has granted approval to several asset managers to offer retail investors access to spot Bitcoin and Ethereum ETFs. China Asset Management, Harvest Global Investments, Bosera Asset Management, and HashKey Capital are firms that received this approval.
Hong Kong joins the spot ETF trend as it hopes to become one of the crypto hubs. The cryptocurrency market has reacted positively to the news, increasing by 6%. Ethereum has been one of the bullish altcoins, rallying above $3,200. Bitcoin has also increased to the $67,000 level but could extend its gains with the halving just days away.
Amidst the crypto market recovery, all eyes are trailing on NuggetRush (NUGX) after one of the most successful cryptocurrency ICO phases. NuggetRush raised over $3.8 million in just five presale rounds as the gaming community showed massive support for its blockchain game.
NuggetRush stands out from other gaming tokens for its excitement-packed hyperrealistic virtual mining world that offers incredible rewards. Players will be put to the test to complete mining challenges, including digging, excavating mineral resources, and selling them. As they complete these challenges, they can earn rare trending NFTs, cash, and even real gold.
The project is also designed to support community gaming. Players can form teams with other gamers and pool resources together to increase their chances of winning. The creators of the game will also renounce their ownership of the smart contracts after its launch, giving the community even greater control over the project.
With the crypto ICO now concluded, early investors anticipate the launch of the NuggetRush game. With just days left to the airdrop and the bullish anticipation of Bitcoin halving, NUGX has been tipped to replicate Solana's 2020 performance. While the ERC20 coins will be listed at $0.020, analysts have forecasted a 100x gain for NuggetRush in 2024.
Over the weekend, Solana (SOL) was one of the top altcoins with the biggest loss. From a monthly high at $210, the price of SOL plunged as low as $125 as the crypto market recorded its biggest bloodbath of the year.
However, with bullish sentiment returning to the market, Solana is back on track. The altcoin price has increased by more than 7%, crossing the $150 resistance. SOL now faces major resistance at $180 and $200 before it can retest its monthly high.
The approval of spot Bitcoin and Ethereum ETFs in Hong Kong is a major bullish development for the cryptocurrency market. With Bitcoin halving and its launch adding even more excitement, NuggetRush looks to be in a prime position to lead the upcoming bull market with Solana-like gains.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.