Bear market tides change; investors turn their attention to 3 crypto assets
The crypto market is showing signs of recovery, with Bitcoin (BTC)’s recent rise to $37,000 sparking renewed interest among investors.
This positive change can be attributed to expectations surrounding the approval of a spot Bitcoin exchange-traded fund (ETF) in the United States.
Amid these changes, three coins – Galaxy Fox (GFOX), Solana (SOL), and Polygon (MATIC) – are on investors’ radar.
Galaxy Fox Overview
Investing in presale tokens can present opportunities for discerning investors.
Galaxy Fox, which has raised over $120,000 in the current presale, is conducting its presale and is being explored.
It should be noted that the project pre-sale is structured in several stages, with token prices increasing after each stage.
Galaxy Fox combines gaming, staking and non-fungible tokens (NFT).
At the heart of its ecosystem is the web3 racing game, in which players can earn GFOX by completing various challenges.
The game also incorporates NFTs, allowing players to upgrade their characters for a competitive advantage.
Galaxy Fox also features the Galaxy Fox Stargate, a staking mechanic that rewards players for holding GFOX.
The project collects a 6% tax on purchases and sales to support the ecosystem. Funds are distributed among the staking, treasury, and liquidity pools to maintain and grow the project.
Solana overview
Solana, a layer 1 network, is firm, up 45% in the last week alone.
Despite concerns about FTX, one of the largest holders of SOL, prices increased after the Solana annual conference.
It is currently unclear what will happen to the SOL holdings held by FTX following the company’s bankruptcy. Despite this uncertainty, prices remain relatively firm and are followed by investors.
Polygon analysis
Polygon’s recent developments appear to be a cause for optimism, as institutional investors and large traders show increasing interest.
Polygon is scaling Ethereum, and over the past month the platform has seen an upward trend due to increased trading volume. The increase in large transactions suggests that whales and institutional entities are engaged, either ramping up their activity or liquidating them.
At the time of writing, MATIC prices are firm, trading above $0.80 for the first time since July. Meanwhile, MATCI prices are up 60% in the last 30 days.
Concluding Remarks
Some investors are diversifying their portfolios, as indicated by the current state of the market. These investors are considering both new and established cryptocurrencies. Galaxy Fox, Solana and Polygon have become the center of attention for investors looking to balance their investment strategies. At the moment, the GFOX presale is still ongoing.
Learn more about Galaxy Fox (GFOX) here:
Visit the Galaxy Fox presale | Join the Telegram group | Follow Galaxy Fox on Twitter
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