Bitcoin recently surged past $37,000, reaching levels not seen since May 2022. The spike was attributed mainly to a short squeeze, as short investors were liquidated. Market enthusiasm is fueled by growing optimism about U.S. regulators’ potential approval of the first spot Bitcoin ETFs.
Amid this optimism, altcoins like Galaxy Fox (GFOX) and Chainlink (LINK) appear to be gaining traction.
Examining GFOX
Bitcoin plays a critical role in crypto, and the expectation of the first batch of spot Bitcoin ETFs appear to be driving the markets higher.
With Bitcoin halving also fast approaching, market participants are bullish.
In the ongoing presale, GFOX, the native token of Galaxy Fox, is available for $0.00066. The presale will be through 10 rounds, and token prices will gradually increase at every phase.
GFOX primes the Galaxy Fox play-to-earn (P2E) ecosystem. It serves as a utility.
The web3 runner game rewards players based on performance, with top scorers earning more tokens.
Incorporating non-fungible tokens (NFTs) into the game, Galaxy Fox allows players to collect unique digital items that enhance their gaming characters, providing speed, strength, and agility advantages.
A key element in the ecosystem is the Galaxy Fox Stargate, a staking pool funded by a portion of transaction fees. This pool rewards GFOX stakers. Rewards are distributed depending on the duration and quantity of tokens staked.
LINK rallying
Chainlink is a decentralized blockchain oracle network on Ethereum.
Established in 2017 by Sergey Nazarov and Steve Ellis, the oracle facilitates the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.
Its native token, LINK, is up by over 35% in the past 30 days.
When writing, LINK is changing hands at $15, which is at a 2023 high.
Bottom line
The approval of the first spot Bitcoin ETF has long been considered a potential catalyst for a bull trend in crypto. As sentiment improves, investors are diversifying their portfolios, with some looking at new options such as GFOX.
Galaxy Fox combines gaming and meme coin features. It is also complemented by its deflationary GFOX, which can be staked.
Learn more about Galaxy Fox (GFOX) here:
Visit Galaxy Fox Presale | Join the Telegram group | Follow Galaxy Fox on X
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Source: https://crypto.news/bitcoin-etf-optimism-sparks-bullish-run-gfox-and-link-gain-momentum/