The DOJ has announced it will negotiate a settlement with Binance if the exchange pays roughly $4 billion in fines. This may seem bearish initially, but the truth is the opposite. Binance will be allowed to continue operating, and it is a classic pay-to-play enforcement.
A black swan event with Binance was the last cloud hanging over the markets, and crypto whales have taken this event as a greenlight that the bull market has started. As the hype surrounding Pepe ($PEPE) fades, these giant investors have dived headfirst into Galaxy Fox ($GFOX). This nascent presale has 120X potential and has already been listed as one of the top 10 cryptos to buy now.
Galaxy Fox ($GFOX) Already Attracting Whales
A potential negative regulatory outcome for Binance was the only uncertainty left in the markets. Whales have used this opportunity to buy up $GFOX en-masse, betting that this hot new presale will become a market leader this cycle.
Galaxy Fox is a play-to-earn token built around an addictive runner game. It includes a classic Web3 angle, meaning the top 20% of players get rewarded each season. These players win prizes directly exchangeable for $GFOX tokens and can even upgrade their in-game abilities by holding one of 3,000 unique NFTs.
But why are crypto whales buying up $GFOX? The two most probable reasons. First, a belief that tokens situated in the GameFi narrative will outperform the market significantly this cycle, and second, $GFOX’s aggressive deflationary nature.
Whales understand tokenomics better than most investors, and they appreciate the associated value accrual properties. Galaxy Fox will conduct an ongoing token burn, reducing the circulating supply, and will sell 70% of the tokens during the presale. This means no large token unlocks.
Even better, $GFOX stakers earn rewards funded by token taxes instead of token emissions, and this residual staking income makes Galaxy Fox an ideal crypto for beginners. Likely, these whales are participating aggressively because they understand that they can earn yield on a deflationary asset while progressively owning a larger percentage of the total supply. Unsurprisingly, experts dubbed $GFOX one of the top 10 cryptos to buy now.
Pepe ($PEPE) Increasing Competition in Meme Coin Arena
The hype surrounding $PEPE has begun fading as more and more investors look to newer alternatives like $GFOX and $BONK. The arrival of Bonk ($BONK) on Solana ($SOL) means that these meme coins traders can speculate at a fast pace and make trades for fractions of a cent. A huge improvement on the Ethereum ($ETH) meme coin experience. How will Pepe fair in this new meta?
Despite the uphill battle, analysts remain largely bullish on Pepe, citing that the token is relatively new compared to classic incumbents like $DOGE and $SHIB, making it more enticing psychologically to meme coin traders. It has a smaller market cap than its largest rivals, and most importantly, it builds on one of the internet’s most classic memes.
Is $PEPE one of the top cryptos to buy right now? Probably not, given the overwhelming amount of competition in the space. But in a bull market, everything goes up, and $PEPE will be no exception.
Closing Thoughts: $GFOX On-Track to 120X
Whales wading into the Galaxy Fox presale is excellent news for $GFOX token holders. Those who participate in the initial presale phase will enjoy 450% gains by the time of launch, thanks to staggered price increases.
These well-capitalized investors are betting big, and with price forecasts suggesting that $GFOX will 120X in 2024, it is easily one of the top 10 cryptos to buy now. Join these crypto giants and participate in the presale today. Get an allocation of $GFOX at the lowest cost basis and learn first-hand the magic of deflation!
Learn more about $GFOX here:
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