Crypto Quill

Monero, a major privacy-focused cryptocurrency, has suffered a significant loss of value after Binance, one of the largest crypto exchanges, announced its intention to delist it. As a result, many investors are looking for alternative DeFi projects that offer more potential and security, such as NuggetRush and ZetaChain.

Binance to Delist Monero on February 20th

Binance, the world’s leading crypto exchange by trading volume, has decided to remove Monero (XMR) from its platform, along with three other tokens: Aragon (ANT), Multichain (MULTI) and Vai (VAI). The delisting will take effect on February 20th, 2024, and users will have until May 20th to withdraw their tokens from the exchange.

According to Binance, the decision to delist XMR is based on various factors, including “contribution to a healthy and sustainable crypto ecosystem”, “evidence of unethical or fraudulent conduct or negligence”, as well as responsiveness to Binance’s periodic due diligence requests and others.

Monero is a cryptocurrency that focuses on privacy and anonymity, making it difficult to trace transactions and balances. This feature has attracted many users who value their financial privacy, but also raised concerns among regulators and law enforcement agencies, who see it as a potential tool for money laundering, tax evasion, and other illicit activities.

The announcement of Binance’s delisting has caused a sharp drop in Monero’s price, which fell to a low of $136 on Binance, losing nearly 19% of its value in just a couple of hours. Monero has touched lows not seen since mid-September 2023, and its market capitalization has shrunk to about $2.4 billion.

NuggetRush Offers a Rewarding P2E Gaming Experience

While Monero’s price is falling, some investors are turning their attention to NuggetRush (NUGX), a P2E gaming platform that offers a variety of financial rewards and earning opportunities. NuggetRush presents an engaging mining adventure game that puts players’ thinking, decision-making, and management abilities to the test.

The game draws players into an interactive environment where they can search for precious minerals and rewards them for their participation and engagement. To boost their mining endeavors, players have various options at their disposal. They can hire more workers, improve their machinery, or collaborate with other miners.

Additionally, NuggetRush offers earning opportunities along with the gaming experience. It allows players to sell their in-game assets on the NuggetRush NFT marketplace to earn tokens. They can also stake them to earn a 20% APY.

However, participation in NuggetRush’s ecosystem is exclusive to members of its ongoing crypto ICO. The good news is that players can buy the NUGX tokens at an accessible $0.018 right now. This is a good entry point for those looking to invest in this promising DeFi project. Interested investors are advised to act fast to secure their stake before the token price moves to $0.020.

ZetaChain Network Expands After Mainnet Launch

Another DeFi project that has seen a surge of interest lately is ZetaChain (ZETA), a blockchain platform that aims to provide a scalable, secure, and decentralized solution for Web 3.0 applications. ZetaChain’s native token, ZETA, surged by 150% following the launch of its mainnet beta on February 1st, 2024.

This significant uptick pushed ZetaChain’s market cap to about $400 million. In addition, the ZetaChain price hit a record peak of $1.95 on February 2nd, fueled by increased investors’ interest. A key driver behind this price increase was the highly anticipated ZetaChain airdrop, which drew widespread attention from the crypto community.

Despite a subsequent dip below the $1.00 threshold, ZetaChain’s network is still on an upward trajectory. ZetaChain recently shared in a tweet that its ZetaHub network has attracted over 700,000+ users, and that its zEVM, a compatible and scalable version of the Ethereum Virtual Machine, has processed over 6 million transactions.

ZetaChain’s mainnet launch marks a major milestone for the project, as it enables developers to build and deploy decentralized applications on its platform, leveraging its fast, low-cost, and interoperable features. ZetaChain also plans to introduce more innovations, such as ZetaSwap, a decentralized exchange, and ZetaDAO, a decentralized autonomous organization.

Monero’s price drop has exposed the risks and challenges of investing in privacy-focused cryptocurrencies, especially in the face of regulatory scrutiny and exchange delisting. However, the crypto market is not short of opportunities, as new and innovative DeFi projects emerge and attract investors with their potential and performance. NuggetRush and ZetaChain are two examples of such projects, offering a rewarding P2E gaming experience and a scalable Web 3.0 platform, respectively.