Analyst Predicts Price Breakout for Binance Coin (BNB) and a New Altcoin


TLDR:

  • Polygon’s Libre, a tokenization protocol backed by several big institutional players, has gone live.

  • Kaleo has predicted that the price of Binance Coin could surge to a new all-time high in the coming weeks. 

  • NuggetRush is a new altcoin that is poised to lead the crypto market rally in 2024.

After months of anticipation, Libre, an institutional-backed tokenization protocol, launched on Polygon. Although the launch has not sparked an increase for MATIC, Crypto Kaleo has predicted a breakout rally for Binance Coin (BNB), while NuggetRush (NUGX) has emerged as a top crypto to buy for the 2024 bull market.

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Libre goes live on the Polygon (MATIC) chain

Libre, an institutional web3 infrastructure protocol powered by Polygon (MATIC), has gone live after months of anticipation. Libre is one of the new DeFi projects that will facilitate the issuance and distribution of tokenized alternative assets to institutional investors.

The protocol was built with Polygon’s CDK. With institutional heavyweights Brevan Howard and Hamilton Lane preparing to use Libre for tokenization, this could positively affect the adoption and use of the Polygon network.

However, in the meantime, MATIC has moved in tandem with the broader crypto market. The token’s price has dropped by more than 25% on the weekly chart to fall under the $1.00 mark. Although MATIC is still bearish, crypto analysts are bullish that the altcoin price could push for $1.50 before the month ends.

NuggetRush (NUGX) shakes up things in the gaming market

The blockchain gaming space has been growing at an incredible pace and is on course to hit a valuation of $615 billion by 2023. In this rapidly growing market, NuggetRush (NUGX) has emerged as a potential leader thanks to its new impact gaming model.

With this new model, NuggetRush looks to extend its reach into the real world. In this immersive virtual world, players will build their mining teams and operations in search of gold and valuable minerals while helping real-world artisanal miners in underdeveloped countries.

A portion of the rewards generated on the platform will be sent to these miners to improve their livelihood. While this social impact model makes NuggetRush one of the best DeFi projects, the project also handsomely rewards its users. The rewards discovered in the game can be converted to real gold and cash, making NuggetRush one of the best cryptocurrency options.

Because of its exciting model and earning opportunities, there has been a hot demand for NUGX in its cryptocurrency ICO. Over 241 million tokens have been sold, helping the team raise over $3 million. Clearly one of the hottest presale tokens, some crypto analysts are projecting significant gains when the game launches.

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Binance Coin (BNB) on track for a new all-time high

Over the past few weeks, Binance Coin (BNB) has been one of the most bullish altcoins. Its price has jumped from $300 in early February to briefly eclipse the $600 resistance level. Although its price has dropped back to the $520 level, several analysts have predicted a continuation of its uptrend.

Crypto Kaleo has predicted that Binance Coin will be one of the best altcoins in the coming weeks as it looks set to form a new all-time high above $720. First1Bitcoin shares a similar sentiment, noting that Binance Coin has formed a pattern that could see its price peak as high as $700 soon.

In summary

Despite the launch of Libre, Polygon has failed to ignite a bull run, with its price falling below the $1.00 mark. On the flip side, Binance Coin and NuggetRush are top altcoins to hold now, as they look poised for major upswings in the coming weeks.

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