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The cryptocurrency market is currently reacting to the possibility of a spot bitcoin exchange-traded fund (ETF) and a similar product for ethereum (eth) in the future. As things stand, Larry Fink’s actions triggered a shift toward quality assets.
Consequently, investors now have a limited timeframe to align with institutional flows as a bull market could be developing.
Galaxy Fox (GFOX) recently launched its initial offering. GFOX supporters remain optimistic, believing that the token could rise further, rising with ethereum (eth).
Examining the Galaxy Fox memecoin ecosystem
The current market trend seems to be leaning towards Galaxy Fox.
In the GameFi narrative, Galaxy Fox offers a play-to-earn (P2E) model that features a web3 runner game.
This system creates an ecosystem around the game, allowing players to purchase one of 3,000 NFTs to improve their character’s in-game stats or use GFOX to bolster their abilities.
The protocol says that 50% of funds from in-game purchases will go to your prize fund, distributed among the top 20% of players each season.
Players note that a strategic move on the platform involves investing early in non-fungible tokens (NFTs), capitalizing on the growth of the prize pool and profiting as in-game upgrades potentially gain value.
GFOX betting
Galaxy Fox incorporates a participation module called Stargate, which collects 2% of all transactions in the ecosystem. This amount is distributed to GFOX bettors.
The protocol-specific token economy guarantees a decreasing total supply through a burning campaign and the application of buying and selling taxes.
These taxes serve the dual purpose of compensating stakeholders and supporting the continued expansion of the ecosystem by funding marketing campaigns and community initiatives.
Analysts highlight that 70% of GFOX will be distributed during pre-sale, reflecting Galaxy Fox’s commitment to a fair release mechanism and the elimination of post-launch inflationary emissions.
As staking rewards come from taxes, early GFOX holders will gradually acquire a larger proportion of the total supply. The deflationary nature and return-driving characteristics could explain the confidence in GFOX among analysts.
Earnings and pre-sale structure.
Investors may consider adding GFOX to their portfolios because early pre-sale participants could benefit due to the tiered nature of the pre-sale tokens price.
Final Thoughts: The ethereum Effect and Galaxy Fox
Institutional capital appears to be driving eth prices, influencing trends across the board. Subsequently, small cap coins like GFOX can benefit in the current cycle, taking advantage of the bullish trend of eth.
Learn more about Galaxy Fox (GFOX) here:
Visit the Galaxy Fox pre-sale | Join the Telegram group | Follow Galaxy Fox on Twitter
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