Headlines have been dominated recently by the news that Bitcoin soared past the $43k barrier, after months of consolidating in the $30K region.
Crypto is known to be an industry where there’s no shortage of options to diversify a portfolio, regardless of what the investor’s risk appetite is. Galaxy Fox ($GFOX) is a new altcoin that brings forward a deflationary model and a wide range of utilities, so let’s have a look.
Galaxy Fox ($GFOX) – Memecoin on a Mission
Galaxy Fox stands out from the pack thanks to its many benefits and features.
Users can win cool prizes and also earn rewards with Galaxy Fox, including $GFOX tokens. In addition, the platform provides holders of $GFOX with several options to increase their holdings and generate additional revenue through options such as staking.
Another is by winning conquests and games on the Galaxy Fox platform. Galaxy Fox’s native token is an ERC-20 coin called $GFOX, which is currently in the presale stage. Thanks to a “token burn” mechanism, the coin’s value could appreciate over time.
The platform’s treasury fund rewards the top performers within its ecosystem. Galaxy Fox also plans to launch the coolest NFT collection of 3,000 unique NFTs. However, access to these NFTs is exclusively reserved for $GFOX token holders.
Participating in the Galaxy Fox presale is an option for crypto investors who want to get ahead of the retail crowds. With a current price of just $0.0008778 per $GFOX, there are many more stages where the price should increase if the presale is successful.
$BTC – More Gains To Come?
Bitcoin recently crossed the $40,000 mark after a bearish 2023. This marked its return to this price level for the first time since late April 2022, reaching a 19-month high on December 3rd to rise above the $42,000 barrier.
$BTC already set a new high for the year, rising more than 138% since the start of 2023. Markus Thielen, Matrixport’s head of research, has made bullish predictions regarding Bitcoin’s future value. Bitcoin will reach $60,000 by April 2024 and $125,000 by the end of the year, he predicts.
The increase in Bitcoin’s price has been accompanied by persistent reports that the US may authorize a spot Bitcoin exchange-traded fund (ETF). Standard Chartered predicted on November 28th that Bitcoin might hit six figures by the end of 2024 owing to the “earlier-than-expected introduction” of spot ETFs in the United States.
Bloomberg ETF analysts have also voiced their confidence, projecting a 90% chance that all pending applications for ETFs will be approved by January 10th.
With the price of Bitcoin surging above $43k, analysts and traders anticipate that the bullish momentum could last for several weeks.
$GFOX is still in the early stages of its journey. Its low market cap and link to the global gaming sector have attracted close to $700K in investments so far.
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