Cardano shrinks after founder criticizes Bitcoin; GFOX eyes gains

Charles Hoskinson criticizes Bitcoin, touting ADA as superior, while ADA lags behind high performers like Galaxy Fox (GFOX).

Charles Hoskinson, the founder of Cardano and the lead developer of Input Output Global (IOG), is never shy of controversy. While he remains an avid supporter of crypto innovation, the founder has an issue with Bitcoin, the world’s most valuable coin. In the past, Hoskinson bashed Bitcoin developers, claiming that the platform is no longer innovative, trailing emerging but fast-paced projects. One such project is Galaxy Fox (GFOX), a new entrant in the space.

Cardano founder worried about Bitcoin

In an interview, Hoskinson said he was worried about Bitcoin’s future, arguing that the network is not as self-reliant as before but largely dependent on the broader crypto ecosystem. Even though the founder said Bitcoin enjoys the store-of-value advantage and is widely viewed as digital gold, Hoskinson said this feature doesn’t mean it won’t be replaced by another asset with better security and functionality. 

The network is deflationary based on how Bitcoin is designed, and its daily emissions will continue to fall over the years. Technically, this gives BTC an edge over other inflationary coins and makes this digital version a better option for investors seeking superior portability and swift transfers across borders. 

In Hoskinson’s assessment, ADA, the native currency of Cardano, can replace BTC, especially considering the development strides made by the network over the years. Cardano is a proof-of-stake platform that’s energy efficient and decentralized. It continues to enhance the base layer with Voltaire set for activation in the coming months.

In light of this, Bitcoin, whose community keeps on rejecting alternatives for ideology over progress, risks facing a fate like Microsoft, losing its dominance due to its inability to adapt. 

Despite this vote of confidence, ADA prices remain under pressure, capped below $0.50. Of note, ADA has failed to outperform some of the top meme coins like PEPE and new entrants like GFOX that investors are backing to rally, even breaching $1.

GFOX emerges as a memecoin with utility

While most memecoins have no utility and are dependent on hype, Galaxy Fox (GFOX) is soaring as its developers aim to carve out a special niche. Specifically, Galaxy Fox is increasingly positioning itself as a transformative project, aiming to disrupt a multi-billion play-to-earn (P2E) gaming scene. 

This ambition is evident considering the mega success GFOX had barely weeks after launching on Uniswap, one of the world’s largest DEXes. The token soared, gaining against the rampant ETH, pointing to the increasingly shifting sentiment among crypto and memecoin investors.

GFOX is different from other memecoins like PEPE, driven by hype that fades over time. The memecoin plays a crucial role in the recently launched P2E game. 

Through this game, players can nurture and battle digital foxes, earning GFOX. Most importantly, gamers can choose to stake these tokens, earning even more rewards. Moreover, all digital foxes exist as non-fungible tokens (NFTs), therefore enhancing player experience.

Those interested in buying GFOX can head over to Uniswap, a DEX. The token is paired against wETH. As an ERC-20 token, GFOX can be stored in multiple non-custodial wallets like MetaMask and Coinbase Wallet.

Conclusion

Memecoin is now an indispensable part of crypto, and GFOX is a big part of this movement. Supporters are confident that GFOX is a 100X candidate in the coming bull market and will easily outperform ADA, a coin with a higher market cap. As savvy investors look to diversify, Galaxy Fox is emerging as a platform offering a superior return.

To learn more about GFOX here, visit Galaxy Fox presale or join the community.