SOL and AVAX retrace as ADA and GFOX supporters predict price gains

Earlier this year, investors enjoyed remarkable gains on Solana (SOL) and Avalanche (AVAX) as they led the altcoin market to a strong recovery. 

However, as these tokens are now declining (at least temporarily), investors are pivoting towards bullish coins like Cardano (ADA) and, especially, Galaxy Fox (GFOX), a meme coin whose presale is ongoing.

Solana falls by 12%

Solana has seen increased investor interest following partnerships with Visa and Shopify and a recovery in its DeFi sector, with over $2 billion in total value locked as of February 2024.

However, the price of SOL has declined by 12% in the past two weeks, potentially leading some investors to explore alternative options. 

Despite this, some experts remain optimistic about a potential price recovery towards the $200 range.

AVAX declines; seeks recovery with Durango upgrade launch

Avalanche experienced price growth earlier this year but has declined recently. 

This coincides with an upcoming token unlock event on Feb. 22. 

As of Feb. 15, the price reached a monthly high of $43.49 but dropped to around $37, a decrease of approximately 13%.

Avalanche has taken steps to address this, including the Durango upgrade. 

This update aims to improve network scalability and interoperability, potentially impacting future performance.

ADA skyrockets by 33% on Cardano upgrades

Cardano has seen recent price growth, and its ecosystem continues to develop with technological advancements.

Upcoming upgrades like the Chang hard fork and Plutus V3 could impact its future performance in decentralized applications and interoperability.

ADA trades around $0.60, reflecting a 33% increase since Jan. 23. 

GFOX presale gains momentum

The Galaxy Fox presale is ongoing, aiming to launch on exchange platforms. 

It has generated interest due to its features and vision. 

During the presale, the token price has increased from $0.0006 to $0.002178. 

Over 70% of the total token supply is allocated to the presale, with most already sold, raising over $3.5 million.

The platform plans to integrate NFTs, offering 3,000 unique NFTs that are tradable 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 dips, while Cardano and Galaxy Fox have maintained stability. GFOX is currently undergoing a presale and attracting some interest.