As crypto adoption swells, it becomes increasingly clear that scalability will be the most valuable trait for Layer one blockchains. What cryptos should one look out for heading into 2024? Solana ($SOL) is gearing up for what could be an epic rally as the Galaxy Fox ($GFOX) ICO has just entered Stage 9 out of a total of 10 stages. Observing early relative strength in this pre-bull stage paints a picture of future performance.
Solana will continue taking market share from Ethereum, and as risk-on sentiment grows, more investors could rotate into presales due to their small market caps and massive upside potential. Riks-on conditions reward risk-taking behavior, and investors who can get ahead of the trends could likely outperform investors who chase trends.
Solana ($SOL) Next Stop $200?
Solana has survived a nuclear-level extinction event this cycle and has risen from the ashes. Several notable airdrops on the network, such as Jito ($JTO) and Jupiter ($JUP), have recapitalized its ecosystem. Now, the bulk of memecoin trading is occurring on Solana, and the value proposition of a low latency chain continues to grow.
Investors don't want to pay high fees, and there is tremendous elasticity between $0.02 and $2. Offer users transactions for fractions of a cent, and they will use that chain. New retail users keen to explore DeFi will naturally gravitate towards Solana, and its listing as one of the top 5 cryptos to invest in this cycle is well deserved.
Overtaking Ethereum's ($ETH) 24-hour trading volume and Jupiter eclipsing Uniswap's ($UNI) trading volume are the metrics that spell out the future. Solana's performance makes it arguably the fastest layer one, excluding parallel EVMs like Monad and Sei V2 ($SEI), and once it breaks $140, it could possibly face no resistance until $200.
Galaxy Fox ($GFOX) Already 98% Sold Out
Galaxy Fox has enjoyed robust and sustained funding success throughout its presale. This new P2E/meme hybrid has already raised over $4 million and sold over 3 billion tokens. Stage 9 has just kicked off, and retail launch is now only a few months away.
Increasing market sentiment always intensifies speculative appetite. Presales become the perfect investment vehicle for investors who missed the bear market lows or want to catch a gem right at the beginning. In the Solana ICO, one $SOL initially traded at $0.22. This type of upside is only available in presales. As conditions grow more bullish, expect presales to become the norm answer to what cryptos to look out for.
Galaxy Fox's unique hybrid design brings together the explosive upside and tokenomics design of a memecoin and introduces a Web3 runner game where anybody can turn gaming acumen into real cash. Staking rewards unlock another earning opportunity, and these payouts are correlated to ecosystem activity in this ecosystem. Implementing taxes to fund staking payouts enables $GFOX to have a net deflationary total supply while paying out yield to stakers.
Closing Thoughts: New Leaders in the 2024/ 2025 Cycle
Anybody who has witnessed multiple cycles knows that the top ten cryptocurrencies constantly change, and regarding what cryptos to look out for investors should prioritize new tokens, $GFOX, or those from the past cycle that have proven resilience $SOL.
The Galaxy Fox presale is particularly interesting, given the current market conditions. Small caps launching in bullish conditions have historically performed very well, and its location in the GameFi and memecoin narratives position it well for 2024.
Learn more about $GFOX here:
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This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.
