a16z invests $100M in Ethereum’s restaking protocol EigenLayer; Stacks and NuggetRush outperforms the Crypto market

TLDR:

• Andreessen Horowitz (a16z) has announced a $100-million funding round for EigenLayer.
• Stacks (STX) continues to outperform the market as interest in Bitcoin layer 2 protocols grows steadily.
• NuggetRush (NUGX) has seen an 80% price pump, but looks to extend its gains.

Over the past few weeks, restaking has become one of the biggest trends in the crypto space. With the trend only expected to continue growing, EigenLayer, Ethereum’s biggest restaking protocol, has attracted a $100 million investment from Andreessen Horowitz (a16z).

Meanwhile, the interest in Bitcoin layer 2 protocols has propelled Stacks (STX) to become one of the top altcoins. NuggetRush (NUGX) has also seen massive bullish attention, increasing by 80% as it looks to become one of the best DeFi coins of 2024.

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NuggetRush (NUGX) seeks to extend gains after 80% pump

With 80% gains, NuggetRush (NUGX) has been one of the star performers of the recent crypto market rally. This new DeFi project, which blends play-to-earn (P2E) gaming, meme culture, and NFTs has been attracting investors, leading to a very successful presale. 

The core of the NuggetRush ecosystem is its unique mining game. Unique in-game characters that are also NFTs can be chosen by players. Players can also form mining teams composed of other players to increase their chances of finding areas with gold.

More significantly, game-related objects can be exchanged for gold or cash on the NFT marketplace. With this feature, NuggetRush promises to be more profitable than other P2E games. This has made NuggetRush a top crypto to invest in. 

This has fuelled massive interest in NuggetRush, which is currently preparing to launch its game. NUGX is currently priced at $0.018, but many analysts expect a parabolic rise in the 2024 bull market. With forecasts of up to 50x gains, NuggetRush is one of the top crypto coins to buy now.

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a16z Invests $100M in Ethereum’s restaking protocol EigenLayer

Andreessen Horowitz (a16z) has recently announced a $100-million funding round for EigenLayer, the largest restaking protocol on Ethereum. According to a Bloomberg post, the venture capital firm was the only investor in the funding round.

Eigenlayer has also confirmed the investment from a16z. Eigenlayer has also become one of the best DeFi projects, with a total value locked (TVL) of over $7.78 billion. The project has increased by more than 328% over the past 30 days.

Stacks (STX) outperforms the Crypto Market

Since Stacks (STX) introduced smart contracts to the Bitcoin network, it has been one of the most sought-after coins in the crypto market. With the demand for Stacks only growing, STX has consistently outperformed the crypto market.

A recent report shows that Stacks has posted more than 400% gains since October 2023, making it one of the best altcoins to buy. Messari also reported that the revenue generated by Stacks in the fourth quarter of 2023 increased by an outstanding 3,386%.

The TVL of stacks also increased by an impressive 363% within the same period. STX is also slowly rising toward its all-time high (ATH) at $3.39. The Stacks coin is currently in the $2.85 range and could look to rally above $3.00 soon.

Closing thoughts

The recent investment move by a16z in EigenLayer shows the growing support for restaking. Stacks continue to grow as the demand for smart contracts on Bitcoin increases. Meanwhile, with growing interest and confidence in NuggetRush, it has become one of the best cryptos to buy now.

Visit the NuggetRush Presale Website

 

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