18.7 C
New York
Saturday, June 15, 2024

Why Did Ethereum Classic ($ETC) Pump 35% This Week? GFOX Presale Eyes $3 Million

Must read

Two interesting crypto projects are in the spotlight recently – Ethereum Classic and Galaxy Fox. Ethereum Classic ($ETC) caught the attention of many investors and traders with its 35% surge.

Meanwhile, Galaxy Fox ($GFOX) is gaining traction with its ongoing presale, which is on track to hit the $3 million mark.

Why is Ethereum Classic ($ETC) Going Up?

Ethereum Classic ($ETC) has emerged as a dark horse, surging by a staggering 35% in a week.

But what’s fueling this unexpected rise? Ethereum Classic, which hard-forked from Ethereum ($ETH) in 2016, is outpacing its more renowned big brother. Hovering above $27, $ETC has soared by 35%, propelled by positive market sentiment following the approval of the first batch of Bitcoin exchange-traded funds (ETFs) in the U.S.

Ethereum Classic split from the Ethereum Blockchain over a disagreement with founder Vitalik Buterin’s decision to reverse a 2016 hack of smart contract system The Dao, which had experienced $60M in stolen Ether. While Buterin’s decision to turn back the clock on the hack was supported by the majority of the community, some developers thought it violated the “code is law” principle of blockchain – and thus Ethereum Classic was born. The Ethereum Classic blockchain continues to have a small, but devoted following of users and developers.

As to the question of why $ETC is pumping recently, part of it has to do with macro-conditions in the market.

Santiment, a leading on-chain analytics platform, reports a rise in $ETC trading volume, reaching levels not seen since September 2022. The report shows the recent surge is closely linked to the Bitcoin ETF announcement and marks a significant milestone for $ETC.

The coin’s recent bullish movement showcases heightened trader interest and a positive market outlook.

Galaxy Fox Presale Eyes $3 Million

Galaxy Fox has reached a significant milestone with $2.5 million in its presale. This momentum shows substantial investor confidence in this meme coin that’s not just riding the crypto hype but is set to redefine the landscape. The $GFOX presale is currently in Stage 7, with tokens available for purchase at 0.00198 USD. It has already placed over 2.3 billion tokens in the hands of early investors, and raised a remarkable $2.6 million. The project is gearing up for the next stage, which features an increased token price of 0.002178 USD.

Designed as an ERC-20 coin, Galaxy Fox is a key player in the web3 space. Its utility extends beyond its ecosystem, making it a standout altcoin in the crypto world.

The Galaxy Fox ecosystem promises exciting opportunities, including a play-to-earn (P2E) game that rewards users for having fun. Staking $GFOX tokens will be possible, with users earning rewards within the ecosystem. Furthermore, $GFOX serves as the primary payment medium within the Galaxy Fox NFT marketplace, enhancing gameplay and boosting chances of earning.

Additionally, Galaxy Fox promises to attempt to dominate the Web3 sector. With many of the coolest NFT assets directly linked to its Web3 game, $GFOX holders can mint and trade these digital assets for real money on NFT platforms.

Galaxy Fox’s presale is a corrective path to an innovative ecosystem with profit potential. The projected growth in the meme sector and Galaxy Fox’s unique features make this presale an interesting one to watch.

In a world where crypto trends evolve rapidly, Ethereum Classic’s surge and Galaxy Fox’s presale capture the essence of development in this dynamic space.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

More articles

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Latest News