Synthetix (SNX) and Galaxy Fox (GFOX) are holding firm. This article explores the upside potential of SNX and whether GFOX can replicate this pattern.
SNX prices recently rose 60% and some analysts believe it may gain more momentum, much like Solana (SOL) on its recent surge. If this trend continues, SNX could attract more investments.
On the other hand, GFOX has been gaining momentum lately and some analysts are bullish on the token, expecting it to rise, similar to SNX.
Synthetix bullish ahead of version 3 release
SNX rose 60% on the monthly chart, attracting investors.
Analysts have identified a bullish pattern on the SNX chart and expect more gains in the future.
If this trend continues, SNX could rise above $16.
Potential catalysts driving gains include the upcoming launch of the Synthetix v3 protocol, which provides collateralized debt positions (CDP). The feature enables the creation of stablecoins against collateral and provides strong liquidity for on-chain derivatives.
The introduction of Perps, CDP, Base, and USDC will likely improve the protocol's capabilities. Synthetix has already generated $54 million in annual sales.
For the future, SNX is increasingly explored.
Can GFOX follow SNX and SOL?
Galaxy Fox is a meme coin that integrates a variety of utilities into its ecosystem. It combines a blockchain gaming ecosystem with NFTs, a marketplace and additional project products for sustainability.
The platform's web3 broker game allows users to earn significant rewards by conquering worlds, with rewards distributed in digital assets and the ERC-20 token, GFOX.
Additionally, users can stake GFOX to get rewards.
Galaxy Fox pre-sales have raised more than $450,000 in the first weeks of its launch.
The proceeds will be used to develop the Galaxy Fox ecosystem, as the project aims to solidify its position in the meme coin scene.
With its utility-based approach, Galaxy Fox can be a crucial player in the meme coin market, combining entertainment, rewards, and even long-term value.
Final thoughts
Synthetix is in the bullish zone, but the attention is also on Galaxy Fox.
While SNX could follow SOL and rise, analysts are bullish on GFOX and attribute this to its dual use.
In the ongoing pre-sale, GFOX is trading at $0.000878.
Click the links below to learn more about the Galaxy Fox project.
Visit the Galaxy Fox pre-sale
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