After two months of quasi-euphoria, a large wick to the downside brought investors back to reality. December is often a decent month for markets as investors anticipate a fresh start in January. A round up on the year to date: Bitcoin ($BTC) steady at $43,000, and altcoins holding their Q4 gains. Heading into 2024, will Ethereum ($ETH) finally break $3,000? How will smaller caps perform? And what is the top crypto to buy in 2023? Based on momentum, Galaxy Fox ($GFOX) is the leading contender and is already on route to raising $1 million.
Yearly Roundup: $BTC Steady, When Will $ETH Target $3,000?
Crypto markets follow a painfully predictable pattern. Anybody who has seen multiple cycles already knows the script. One year down and then three years up. 2022 was a brutal bear market, and all leverage was forcefully ejected. All the hidden cracks came to the fore as prices dipped, and the over-extended players got washed out. These events, although painful, were necessary. They allowed for a reset and the creation of stronger foundations for eventual moves higher. 2023 has been an excellent year of recovery, and despite fears of poor macro conditions, digital assets have performed superbly, and the top 10 crypto coins have reasserted their strength. Bitcoin is steady and has held support at $40,000. Sideways chop is the likely outcome until the Spot ETF approvals in January. But the more prominent question is when will $ETH target $3,000? Ethereum has underperformed relative to other assets, especially in the last two quarters. While many are rotating their $ETH bags, experts predict a revenge rally in early 2024. When the $BTC ETF gets approved, speculation will instantly latch onto the Ethereum Spot ETF, and many who sold their $ETH bags early will become embittered. But the most exciting sector of the industry has been presales in Q4, with projects like Galaxy Fox absolutely tearing.
Galaxy Fox ($GFOX) Glut of Demand Sends Presale Soaring
Galaxy Fox is a success story of 2023 and a protocol with the hallmarks of printing a new class of crypto wealth in 2024. Its presale recently crossed $900,000 and soars toward the $1 million mark. But impressively, half of this funding was raised in the last few day – this pace of fundraising hasn’t been seen since the 2017 ICO mania days. Could $GFOX be the top crypto to buy in 2023?This play-to-earn token offers a classic runner game with financial incentives. The top-ranked players earn prizes at the end of each season and can even purchase one of 3,000 unique NFTs to gain in-game stat bonuses. Experts predict a resurgence of P2E projects as the GameFi narrative becomes dominant, and with market caps eclipsing multi-billion dollars in the peak of 2021 this could be an incredible cycle for early investors in play-to-earn projects. But why has Galaxy Fox overtaken its competition?The introduction of staking rewards partly explains this success. Galaxy Fox’s Stargate module is the rewards hub and will accumulate 2% of all ecosystem transactions. It will then distribute these to holders, and this straightforward passive income source makes $GFOX a great crypto for beginners. Paying stakers with taxes as opposed to emissions acts as a brilliant token sink, and a lack of inflationary pressure drives long-term value accrual. The protocol’s burn campaign will permanently remove tokens from circulation, and unique to this project, investors can earn native yield on a deflationary asset.
Closing Thoughts: In 2024 Investors Will No Longer Be Early
When the Spot ETF is approved, it will begin a new era for cryptos- investors will no longer be early. Probability dictates that this will be the last outrageous cycle before institutional money steadily smoothes out the volatility. Investors who want to make it have less than two years left!Presales are the most effective wealth generators of modern times. An early investment in a small cap can turn into six figures in a bull market. $GFOX still has a market cap of less than $1 million. Compare that to the multi-billion dollar valuation of P2E projects last cycle. Investors are still early to this project and that is why $GFOX is a top crypto to buy in 2023.
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