Remember, dips are for buying in a bull market, and drawdowns like these are a gift. Galaxy Fox continuing to surge during downturn is a classic indicator of excellent relative strength, and this small-cap gem could be the top crypto to invest in this year. The long-term bull trend remains unbroken, but why did $BTC crash, and why is $GFOX pulling ahead?
Bitcoin ($BTC) Largest Daily Crash Since FTX Collapse
Bitcoin took a severe tumble earlier this week and lost over 8% on Tuesday, March 19th. It dropped below $62,000, giving ETF investors their first baptism of fire in that famous crypto volatility. But why did $BTC, the number one of the top ten cryptocurrencies, slide so aggressively?
There were many reasons, but the driving cause, as with all of these recent downturns, was too much leverage in the system. Funding rates were sky-high, and too many people cranked the leverage too hard. When too many traders are long on high leverage, it leads to liquidation cascades observable on Tuesday. Outflows from Grayscale set a new record at $643 million, and the market looked tired as $ETH dipped, showing that the market does not believe the ETF will be approved in May. All of these came together for a massively ugly day and the worst single-day performance since the FTX crash. These events serve as a reminder of why holding spot is so important and why leverage can be such a dangerous tool. Since the dip, $BTC has seen a strong recovery – again, great for spot and bad for leveraged shorts who saw massive liquidations.Galaxy Fox ($GFOX) Presale Soaring Despite Downturn
Galaxy Fox bucked the trend and while the entire market was bleeding, it continued surging. With one final price increase coming before its retail launch, it is now or never for investors to jump into this ICO. Galaxy Fox’s hybrid model has taken the market by storm, and soaring past $5.2 million in its presale signals that a killer price discovery phase is loading.
Memecoins have been this cycle’s dominant narrative, with GameFi in a close second. Galaxy Fox’s ranking as the top crypto to invest in comes from its hybrid design and dual narrative support. It blends these two genres together, and now markets have an easy beta play for exposure to both. Galaxy Fox’s infinite runner builds on an industry staple but adds Web3 goodness with prizes paid out at the end of each season. A play-to-earn game is a great natural draw to this ecosystem for new users, and with NFT functionality added, even NFT enthusiasts have been drawn into this ecosystem. $GFOX’s tokenomics are on another level. Post-launch, a token burn will come into effect, reducing supply, and the staking rewards program will start. Users can stake their $GFOX in the Stargate module to begin earning immediately, and with the current trajectory, this token could easily 10X before the end of the quarter. It is easily among the top cryptos to buy right now.Closing Thoughts: Join the $GFOX Presale Today
In a bull market, dips are for buying, and tokens like $GFOX that outperform during periods of volatility mark themselves as tomorrow’s market leaders. Bitcoin has already started a swift recovery, and the halving is roughly a month away.Galaxy Fox is closing in on its retail launch and remains drastically mispriced by the market. At its current price, it is the top crypto to invest in. When its economic levers activate post-launch, expect a huge surge as markets reprice its value proposition. Memecoin mania V2 is about to begin, and with the presale already 90% sold out, the chance to join this ICO early is fading fast.
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