In recent developments, Ripple’s XRP and Cardano’s ADA have fallen to the $0.49 price area as the market value has been adversely affected by challenges. At the same time, NuggetRush (NUGX) is aiming to launch its play-to-earn gaming ecosystem. The NuggetRush project has raised over $2 million so far.
Ripple’s XRP Faces Security Breach
Within the last 24 hours, Ripple’s XRP token fell by about 5% to $0.49. There was speculation about a security compromise where 213 million XRP tokens, worth $112.5 million were reportedly stolen. ZachXBT, a blockchain analyst, revealed the unauthorized access and that the tokens were washed through several exchanges.
Ripple’s co-founder, Chris Larsen, confirmed the breach and said that law enforcement needs to be involved immediately. Ripple’s value has declined by 19% this year which worries crypto enthusiasts.
Ripple is a privately owned fintech company providing cross-border payment services through its proprietary payments network, RippleNet. Powered by the consensus ledger XRP Ledger (XRPL), RippleNet enables real-time settlement transactions at a low cost.
ADA Displays Bearish Trend
Cardano (ADA), a proof-of-stake blockchain, has been subjected to bearish influence losing more than 20% in the last 30 days. The current price of $0.49 for ADA followed a breakdown after trading within a range from $0.58 to $0.6.
Cardano is a blockchain, and innovation comes from academic research. The latest Vasil hard fork targeted at improving smart contract functionality and minimizing fees, yet ADA’s present slide cast doubts on its short-term success.
NuggetRush (NUGX) Fostering Utility in Meme Coins
NuggetRush (NUGX) is a new project in the meme coin space. The project claims to be creating a play-to-earn gaming ecosystem where users enjoy a plethora of benefits, including decision-making rights and absolute data control.
NuggetRush (NUGX) claims to offer members of its ecosystem real-world value that enables players to swap their in-game assets for physical assets such as gold and cash. The project believes that its in-game characters, who act as gaming avatars and NFT collectibles, bring a level of depth and diversity to the platform.
Apart from its impact gaming feature and GameFi entertainment, NuggetRush (NUGX) claims to be focused on lending a helping hand to communities in need.
NuggetRush (NUGX) aims to make its platform unique with its cast of characters representing a team of real-world mining experts such as Maxwell Stoneforge, Marcus “Mack” McAllister and Amelia “Mia” Gallagher.
The introduction of NFT staking rewards and the governance token NUGX incentivizes the community to stake their digital collectibles and also participate actively in the platform’s decision-making processes.
At press time, about 75% of tokens intended for the fifth presale round have already been sold at the current price of $0.018 per token. A SolidProof contract audit has already been conducted by the project.
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