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Earlier this year, investors enjoyed notable gains in Solana (SOL) and Avalanche (AVAX), which led the altcoin market to a strong recovery.
However, as these tokens are now declining (at least temporarily), investors are turning towards bullish coins like Cardano (ADA) and especially Galaxy Fox (GFOX), a meme coin whose pre-sale is ongoing.
Solana falls 12%
Solana has seen increased investor interest following partnerships with Visa and Shopify and a recovery in its DeFi sector, with more than $2 billion in total value locked as of February 2024.
However, the price of SOL is down 12% in the last two weeks, which could lead some investors to explore alternative options.
Despite this, some experts remain optimistic about a possible price recovery towards the $200 range.
AVAX falls; seeks recovery with release of Durango update
Avalanche saw a price increase earlier this year, but has recently declined.
This coincides with an upcoming token unlock event on February 22.
As of February 15, the price reached a monthly high of $43.49, but fell to around $37, a decline of approximately 13%.
Avalanche has taken steps to address this issue, including updating the Durango.
This update is intended to improve network scalability and interoperability, which could impact future performance.
ADA Soars 33% on Cardano Upgrades
Cardano has seen recent price growth and its ecosystem continues to develop with technological advancements.
Upcoming updates like the Chang hard fork and Plutus V3 could impact its future performance in decentralized applications and interoperability.
ADA is trading around $0.60, reflecting a 33% increase since January 23.
GFOX pre-sale gains momentum
Galaxy Fox pre-sale is ongoing and is aimed at launching on exchange platforms.
It has generated interest due to its characteristics and vision.
During the pre-sale, the price of the token increased from $0.0006 to $0.002178.
More than 70% of the total token supply is allocated to pre-sale, and the majority have already been sold, raising more than $3.5 million.
The platform plans to integrate NFTs, offering 3,000 unique NFTs that can be traded on OpenSea and its marketplace.
It also aims to establish a treasury for future development and transparency.
Conclusion
Solana and Avalanche have recently seen price drops, while Cardano and Galaxy Fox have maintained stability. GFOX is currently in pre-sale and is attracting some interest.
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