Ethereum ETF Uncertainty Causes Price to Stall While This Memecoin Gains Momentum
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Since the approval of Bitcoin ETF, crypto enthusiasts have also been anticipating the approval of an Ethereum ETF. However, it seems the approval won’t be happening anytime soon. This uncertainty has lowered the confidence of investors in the token and has caused its price to decline slowly over the past few days. On the other hand, $GFOX, the new innovative memecoin is steadily gaining momentum and is about to raise $5 million in its ongoing presale which is gradually coming to an end.
SEC May Reject Ethereum ETF, Analysts Say, As Price DipsThe deadline for the U.S. Securities & Exchange Commission (SEC) to decide whether or not to approve the Ethereum Exchange-Traded Fund (ETF) is May 2024. An exchange-traded fund (ETF) allows people to invest in assets like cryptocurrencies without purchasing them personally or deal with the technical aspects of setting up a digital wallet.
Surprisingly, some analysts claim that the chance of this approval happening is low and they have pegged the probability of its happening to just 35%. Although some crypto enthusiasts believe the approval could happen before the year ends, they were also wary of political pressures that will most likely influence this decision.
As a result of these uncertainties, the price of $ETH dropped by 3.56% from $4,011.10 to $3,868.46 within 24 hours and it has been down by about 5% in the last several days. Despite the drop, experts highlighted some positive factors that could affect Ethereum’s price positively. One such is the recent Dencun upgrade that most people believe will increase the scalability of Ethereum’s ecosystem and can potentially lead to an increase in the price of the token.
Galaxy Fox Soars in Presale; Targets 450% Returns with Modest CapitalWhen it comes to excelling in the crypto industry, Galaxy Fox holds one of the best records. This is because it sets itself apart from other meme coins by providing several means for investors to utilize its token and earn passively. Galaxy Fox’s success is evident in its presale, which is almost at $5 million generated with the sale of the $GFOX tokens.
One of the features that easily distinguishes Galaxy Fox from other meme protocols is its play-to-earn feature, which revolves around a fun web3 runner game. In the game, the better a player performs, the more they can earn. At the end of each gaming season, there are rewards for the top 20% of players on the leaderboard.
Galaxy Fox also has a treasury, a central hub of resources for the ecosystem. It holds the project’s native tokens, which will be used for the project’s needs, like development funding, community engagement, marketing, and setting up strategic goals. The Treasury also promotes transparency within the ecosystem by keeping records and communicating about its activities.
The presale momentum of $GFOX has been remarkable ever since it started. The initial presale was just $0.00066 but the token has increased massively by a whopping 260% till date. Interestingly, the token as it nears the end of the presale targets a maximum ROI of about 450% for early investors; hence, when people buy the token now and join the presale, they will stand a chance to gain almost 200% on their investment.
ConclusionEthereum has been remarkable since the beginning of the year, but the recent uncertainty surrounding its highly anticipated ETF approval has been affecting its price negatively lately. On the other hand, $GFOX presale momentum shows that it is a must-have token for every investor who wishes to make significant gains with modest capital this year in their crypto investment journey.
Tap into Galaxy Fox presales today to boost your crypto portfolio. Visit the website and buy $GFOX token at a 15% discount. Also join the telegram community for more updates.
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