After the approval of the first U.S. traded spot bitcoin ETFs were approved on Wednesday, the price of Ethereum soared reaching its highest level since May 2022. Meanwhile, investors still have their attention on $GFOX the presale token that is causing waves as one of the best meme coins to buy.
What is $GFOX?
$GFOX is the native token of the Galaxy Fox project, a meme coin project designed to proliferate and transform. Although $GFOX draws inspiration from some of the best meme coins to buy such as $DOGE, $SHIB, and $PEPE, it offers way more than a run-of-the-mill meme coin. For example, the project has immense growth potential and offers utility-focused features that set it apart from other crypto projects.
One of the most prominent features of $GFOX is its play-to-earn game. In this game, avid gamers compete for the top 20% of positions on the leaderboard. Once the gaming season is over, winners are rewarded with in-game currencies that they can exchange for $GFOX tokens.
Players can enhance their chances of success by purchasing temporary attribute boosters that enhance their speed, agility, and strength, to give them an edge over the competition. They can also leverage NFTS which gives them unique strengths and abilities to enhance their gameplay.
Speaking of NFTs, $GFOX is set to release a collection of 3,000 NFTs that is rumored to be the coolest NFT collection yet. Upon launch, these NFTs will be available for minting on the $GFOX website. Investors can trade their NFTs on the $GFOX marketplace or third-party sites like OpenSea.
Another reason why $GFOX is quickly gaining recognition as one of the best meme coins to buy is its growth potential. Right, from the presale, the $GFOX token is designed to give loyal investors the best returns. With each presale stage, the price of the token increases slightly, allowing early investors to make up to 5 times their investment at launch.
According to market analysts, $GFOX is a potential 100X coin that could easily surpass well-known meme coins like $PEPE. The token burn feature, which removes part of the $GFOX tokens in supply and permanently burns them, will also play a large part in the coin’s growth. Burning tokens reduces its circulating supply, hence increasing its inherent value.
$GFOX has already garnered a lot of support from its growing community and avid investors who recognize it as one of the best meme coins to buy now. The project has raised over $2.64 million and hopes to raise even more as it enters stage 7 of the presale.
$ETH Begins Rally
As investors continue to flock to the $GFOX presale, the second largest cryptocurrency by market cap $ETH has begun a new rally. $ETH is currently (at the time of writing) trading at $2,618 a 24-hour uptick of over 10%. Weekly charts show a growth of about 18% while the month-to-month chart shows a 16% increase.
$ETH has underperformed many of the top altcoins for most of the year, but its recent rally has a lot to do with the approval of Spot Bitcoin ETFs. After the SEC gave the green light for the first US Traded Bitcoin ETS, $ETH shot up by 15.5% to trade at $2,606 which is the highest the cryptocurrency has reached since May 2022.
According to a popular crypto analyst, the positive momentum of $ETH is likely to continue in the near future. If the recent breakout is confirmed, $ETH could go for as high as $3500.
The crypto market is in a frenzy of excitement after the SEC approved the first Bitcoin ETFs after 10 years of waiting. Investors are eager to see the impact of these ETFs on the border crypto market, but if $ETHS’ recent spike is any indication, the bulls are in control. Meanwhile, investors are looking towards $GFOX for over 100X gains in the coming months.
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