Solana hits $70 as GFOX presale roars past $900k

After the long-lasting crypto winter, the market has finally started to breathe a sigh of relief. The anticipated Bitcoin spot ETF approval and the upcoming halving are paying off, and the bull run is in full swing. In this weather, many altcoins are breaking yearly records and giving the HODLers their well-deserved rewards.  

Solana (SOL) reached a yearly high of $75 in these developments. While the selling pressure did its job, and Solana is currently slightly down from the $70 price mark, the positive sentiment is strong. Meanwhile, the latest GameFi token, Galaxy Fox (GFOX), has raised over $900k in its presale.

Exploring GFOX

While the crypto market is constantly flooded with new tokens, not all can last long and bring utility. The new ERC-20 coin Galaxy Fox has a simple goal – to grow and evolve. It is a full utility meme coin with a vision to stand alongside major meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and PepeCoin (PEPE), as well as leading P2E tokens such as The Sandbox (SAND), Axie Infinity (AXS), Decentraland (LAND), and GALA. 

Galaxy Fox has won praise from analysts for its significant development potential, allowing owners to generate additional revenue via P2E gaming, staking, and simply through GFOX token ownership.

This is possible with hyper-deflationary tokenomics that constantly reduces supply by burning. Also, every GFOX transaction is charged a 6% royalty fee, which equally funds the treasury, liquidity, and staking pools. This way, the project supports its long-term goals while also motivating holding.

The market is especially impressed with the project’s presale structure. The presale phase will go through ten stages, and the price will grow at each. This creates urgency and motivates investors to join in early. 

Galaxy Fox is closing its third stage, with over $900,000 tokens sold. 

Solana soars to 2023 highs

Solana (SOL) recently hit a fresh 19-month high on Dec. 9, rising as high as $75. The recovery of $SOL from its late 2022 low of about $8 is impressive, but it is still far from its all-time peak of over $260 in November 2021.

Considering the latest Solana data, many believe it is shaping into a more confident “Ethereum Killer.” While this second-largest crypto remains the leading choice for NFT marketplaces and dapps, Solana offers much quicker and more cost-effective options, often making it a preferable choice for new projects.

Final takeaway

Finding the best altcoins to consider in the bull run seems easy at one glance. But considering the market’s volatility, the greens many altcoins currently experience might quickly turn into sharp declines if no actual utility is brought to the table.

So, before getting tempted, make sure you do the research and find options like GFOX that can have long-term growth engraved in their character. 

Early GFOX investors are up 450% ROI, but gains could increase on launch. 

Learn more about GFOX here:

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