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This week, news of BlackRock’s Ethereum ($ETH) ETF rocketed through the crypto space. After the longest bear market in crypto history, the most outrageous bull market is set to begin.
What crypto to buy today? Anything Ethereum-adjacent. Why? As the value of $ETH skyrockets with institutional inflows, the value of its ecosystem will balloon. This colossal capital influx sets the stage for Ethereum’s dominance this cycle. Here are the 8 best cryptos to buy now to take advantage.
Galaxy Fox ($GFOX) Presale Gem
Galaxy Fox ($GFOX) is a brand-new presale in the Ethereum ecosystem. It offers a thrilling Web3 runner game and an incredibly modern approach to tokenomics that heavily focuses on value accrual for ecosystem supporters.
As well as earning by playing $GFOX token holders can stake their tokens in the Stargate module. Stargate accrues 2% of all ecosystem transactions and distributes these rewards to stakers.
Interestingly, staking rewards come directly from taxation instead of inflationary token emissions. Additionally, 70% of tokens will be sold during the presale, and the protocol will implement a burn: investors are earning yield on a heavily deflationary asset.
Another novel mechanic of this presale is its pricing mechanism, which increases periodically based on the volume of tokens sold. This intrinsic link between demand and price means that investors purchasing in the initial phase will see gains of 450% by launch.
$GFOX is a micro-cap gem, and smaller projects will be the largest beneficiaries of the coming capital influx to Ethereum- easily a top crypto to buy in 2023.
>>BUY $GFOX TOKENS NOW<<
Arbitrum ($ARB) Layer Two King
Arbitrum is the largest layer two and will be a huge beneficiary of a soaring $ETH valuation, making it another perfect answer to what crypto to buy today.
Positive price action on the base layer will naturally feed upstream to layer twos. Arbitrum has two core advantages. Notably, it has a smaller market cap than $ETH, meaning gains will be more explosive. And as Arbitrum has yet to experience a bull run. Nobody knows what its price discovery phase will be like.
Optimism ($OP) Another Layer 2
Optimism presents a similar case to Arbitrum, and value accrual for $ETH is excellent news for this optimistic rollup. Both Arbitrum and Optimism use $ETH as their primary currency, and as its valuation climbs, the ecosystem and the native governance tokens will soar.
LidoDAO ($LDO)
LidoDAO is another obvious token as an Ethereum-centered rally breaks out. It manages stETH & wstETH- the two most popular liquid staking tokens for $ETH. $LDO token holders manage the treasury- one of the largest in DeFi, thanks to capturing 5% of all staking rewards.
Owning a governance token entitling users to control and manage Ethereum’s largest liquid staking service will increase in attractiveness as $ETH’s value increases. Making $LDO another top crypto to buy now.
MakerDAO ($MKR)
MakerDAO represents another straightforward trade. As $ETH’s value climbs, holders can collateralize it to mint MakerDAO’s decentralized stablecoin $DAI. More borrowing activity means greater revenue for MakerDAO and will increase the burn rate of the $MKR token, locking in value for holders.
Rocket Pool ($RPL)
Rocket Pool is another popular liquid staking service provider. Demand for Ethereum staking will rise as the yield payouts become more valuable.
All stakers who leverage Rocket Pool’s services need to own a small amount of $RPL. The trade is simple: more demand for Rocket Pool staking services equates to more demand for $RPL.
Uniswap ($UNI)
Uniswap is the largest DEX in DeFi and the go-to hub for any trader. From degenerate memecoins to blue chips – Uniswap has it all. Being the largest DEX in the Ethereum ecosystem will make $UNI a natural beneficiary of any positive $ETH price action.
Aave ($AAVE)
Aave is another big-hitter in the Ethereum DeFi ecosystem and, therefore, another protocol in line to benefit from the looming price appreciation. As collateral grows in value, market actors unlock the ability to take out larger loans, and larger loans mean more fees for Aave. A perfect feedback loop.
Closing Thoughts: Ethereum Season Starts
Investors were excited about the Bitcoin ($BTC) Spot ETF. Still, it was difficult to gain exposure outside of $BTC and $STX. But an Ethereum Spot ETF is an entirely different beast. A surging valuation for $ETH will lift the entire ecosystem, and this cycle’s altcoin season will be a wild ride!
Investors asking what crypto to buy today must realize that as Ethereum season begins, anything adjacent will rip. The best bet are smaller caps as they have more upside. Gems like Galaxy Fox could easily 100X in this environment, and there is no time to waste. Get ahead of the ETF and participate in the presale today.
Learn more about Galaxy Fox ($GFOX) here:Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
*This article was paid for Cryptonomist did not write the article or test the platform
Source: https://en.cryptonomist.ch/2023/11/17/best-picks-8-cryptocurrencies-buy-right-now/