The ongoing conflict in the Middle East has affected investor behavior in the crypto market. Meanwhile, Monero’s (XMR) recovery in October has been impressive, unlike Stellar (XLM), which gained little from its partnership with Circle. Yet, investors seem to favor NUGX as it promises to revolutionize Web 3.0 gaming.
Let’s analyze these three contenders. Is the current crisis affecting their forecasts? Moreover, do any of these rivals make for a good buy during October?
TLDR
- Stellar’s (XLM) EURC partnership proved unable to turn around its bearish trend.
- Monero (XMR) is on the rise despite negative sentiments towards privacy coins in the overall crypto market.
- NuggetRush’s mining game emerges as an investors’ favorite and excites the GameFi community with immense earning potential.
Stellar Stablecoin Partnership Fails to Boost the XLM Price
On September 26, 2023, the USDC issuer Circle announced the release of a Euro-backed stablecoin on Stellar (XLM). The EURC stablecoin is fully backed by fiat reserves, and it’s expected to boost Stellar’s DeFi offerings.
Stellar’s (XLM) partnership with Circle followed a largely bearish September. As a result, many expected the partnership to turn around XLM’s bearish woes.
However, this expectation did not come to fruition. XLM was trading at $0.1118 on September 26. Following the launch of Stellar’s partnership, XLM had fallen by 4.9% to $0.1063 by October 15.
Stellar (XLM) has already announced steps to increase its share in the payment settlement industry. By bringing stablecoins to Stellar’s network, Circle could help it become one of the top DeFi projects. Yet, the current bear market has stifled XLM’s growth. Analysts say XLM could fall by another 13.1% to $0.0923 if the current outlook of the crypto market prevails.
Monero Recovered in October – What’s Next for XMR?
The scrutiny around privacy tokens stifled Monero’s performance as XMR fell below the $150 mark on August 17. XMR was trading at $141.69 on August 17 following the market crash. In addition, on September 6, 2023, Binance revealed plans to delist Monero in Belgium due to regulatory concerns.
However, it seems that Monero (XMR) has been turning its bearish fortunes around in October. Monero’s position improved, leading to a short-term rally for XMR. Overall, XMR remained in a bearish range since August before jumping by 7.5% to $152.45 on October 15.
Some analysts say XMR’s trajectory could reverse following the high scrutiny around privacy tokens like Monero. Such scrutiny could further dent Monero’s market prospects, pushing XMR down by 7.2% to $141.45. Since experts anticipate XMR to keep dropping, investors deem it not to be a good crypto to buy now.
NuggetRush Excites GameFi Community with Earning Potential
The gaming industry has risen rapidly in the past few years thanks to the addition of blockchain technology. To capitalize on this growth, NuggetRush (NUGX) was launched.
NuggetRush (NUGX) is a mining game that allows players to enjoy the thrills of mining minerals like gold. The game stands out for the higher control and earning capability that it offers its players.
On NuggetRush (NUGX), players manage their mining operations by starting with basic equipment and a small piece of land. It offers tools like soil sampling, geographical surveys, and other prospecting techniques to help find locations with mining promise.
Another standout feature of NuggetRush (NUGX) is that it tests a player’s decision-making and resource management. Furthermore, players can build strategic partnerships on NuggetRush (NUGX), thus boosting the efficiency of their operations and increasing mining rewards.
NuggetRush (NUGX) players can also stake their NFTs and earn high percentage APYs. Finally, players can join the Rush Guild, which confers them with governance voting rights.
Currently, NUGX is still in Round 1 of its presale, trading at $0.010. By Round 2, NUGX will rise by 20% to $0.012. Following its high earning potential, NUGX could become one of the best DeFi projects.
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Keywords: top DeFi projects, best DeFi projects, good crypto to buy now