Outside Source
The Ethereum (ETH) rally has dominated markets, following Bitcoin’s (BTC) sustained rally since June last year. Typically, liquidity flows to BTC, then ETH, and, lastly, altcoins, washing down from majors to small caps. If the second liquidity flow has started, it is only a matter of time until other top 10 crypto coins start their respective rallies.
Investors should target the strongest major and a strong front-runner in the micro caps, ideally a presale.
Meanwhile, Solana (SOL) could see another rally based on ecosystem growth, and the Galaxy Fox (GFOX) presale is heading towards $5 million.
Solana TVL skyrocketing
Solana’s total value locked (TVL) rose from $418 million at the start of 2023 to nearly $4.5 billion when writing.
Recent events such as Solana’s 24-hour trading volume eclipsing Ethereum’s and the increase in developer retention rate bode incredibly well for this ecosystem.
Analysts have touted SOL as one of the top 5 cryptos to invest in, and its relative strength makes it the most attractive major altcoin to hold this year.
In real terms, Solana will likely lead the next wave of adoption because as new money funnels into the space, it will look for two things. First, cheap and fast transactions. And second, action. Solana has both.
The new money will not care about decentralization. Instead, it will care about performance.
Solana’s ecosystem has also seen several new additions, such as Jupiter, which boasts a UX equal to or better than trading on a CEX.
Galaxy Fox presale targets $5 million
The Galaxy Fox presale has been a success in recent weeks. If Galaxy Fox maintains its current trajectory, it will easily surpass $5 million.
The project simultaneously remodels the meme coin industry and the play-to-earn (P2E) genre.
Galaxy Fox’s runner game pays out prizes like any P2E project while incorporating a token-burning mechanism that might support prices.
The introduction of staking rewards has changed the entire dynamic.
GFOX holders can stake via the Stargate module and receive a yield. Moreover, because of its tax system, Galaxy Fox requires no token emissions to reward stakers and will have a down-only supply post-launch.
Closing thoughts
Solana and Galaxy Fox have one thing in common: they have been out-performing their peers. Solana is at the front among the top 10 crypto coins, and GFOX is firm in the ongoing presale.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
This article first appeared at crypto.news
