Consensus reigns that 2024 will be an excellent year for digital assets. While the last quarter of 2023 was a remarkable period for alternative virtual machines such as Solana ($SOL). This year, it is all coming home to Ethereum ($ETH), and its ecosystem is thriving.
A pivotal network upgrade, Dencun, will arrive next month and following, later this year, approvals for ETF products. It is an excellent time to be exposed to Ethereum and its ecosystem. $ETH heads for $3K as Galaxy Fox ($GFOX) eyes $4 million. Are they the best cryptocurrencies to buy before the fresh wave of liquidity in May?
Ethereum ($ETH) Dencun Upgrade & Closing In On $3,000
Ethereum is finally back in the driver’s seat after being outcompeted by alternative layer ones. The Dencun upgrade will go live next month, introducing a new transaction type for rollups, and this new data availability highway, known as the blob transaction, marks the real starting pistol for Ethereum’s rollup-centric scaling vision. Since the Merge $ETH has been deflationary and with the final deadline for ETF approvals in May, analysts are already modeling future predictions for $ETH’s price on $BTC inflows. Ethereum has a better monetary policy than Bitcoin; similar inflows would send $ETH soaring. The resulting liquidity knock-on effect will induce an on-chain altcoin season for the ecosystem.
In the run-up to these approvals, and with an extensive looming technical upgrade, $ETH is easily one of the top cryptos to buy right now. Already closing in on $3,000 $ETH has delivered an outstanding performance this quarter, up over 26% in the last two weeks. And analysts are already rebooting the old mantra of $ETH to $10,000 this cycle.
Galaxy Fox ($GFOX) Eyes $4 Million
Galaxy Fox is positioned as one of the largest net beneficiaries of a rising Ethereum price, and this presale is superbly located on multiple levels. Housed in the Ethereum ecosystem, it is an excellent $ETH beta play and is additionally located in the memecoin and GameFi narratives. Regarding positioning, nobody does it better than $GFOX- no wonder it is classed as one of the best cryptocurrencies to buy pre-ETF approvals.
This new hybrid model blends elements from the play-to-earn and memecoin genres and is competing not only to become a leading memecoin this cycle but also to rival projects such as Axie Infinity ($AXS) and Decentraland ($MANA). Its endless runner game has the classic Web3 twist with the ability to earn via playing, and at the end of each season, Galaxy Fox pays out prizes to the top-ranked players.
The ecosystem additionally includes an NFT collection and a secondary marketplace for trading. These NFTs unlock unique in-game stat bonuses, and experts are betting that the meta trade within this ecosystem could be minting an NFT early, waiting for the prize pool to grow, and then flipping it.
Galaxy Fox’s tokenomics model is another factor placing it among the top 10 cryptos to buy now with a deflationary supply and the ability to earn yield with the staking rewards program. Small caps launching in bullish sentiment is always good news, and $GFOX is one of the most undervalued tokens currently on the market.
Closing Thoughts: Ethereum-Centric Altcoin Season Coming Later This Year
The math is simple. Bitcoin has a market cap nearly three times larger than Ethereum, and $ETH has a better monetary policy than $BTC. Introduce similar inflows to Ethereum as Bitcoin has witnessed, and an Ethereum-native altcoin season unlike any that has occurred before will take place. The best cryptocurrencies to buy currently are undervalued altcoins under this broad umbrella.
Galaxy Fox is a shining example and this small-cap benefits from several long-term tailwinds. Expect a drastic repricing when a dwindling supply of $GFOX encounters growing demand, and you can get ahead of this move by participating in the presale today.
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