Celsius, the infamous cryptocurrency lending platform that filed for bankruptcy in July 2022, has recently made headlines. The lending platform has dumped $125 million worth of $ETH on exchanges amidst the record day of staked Ethereum redemptions.
This massive sale has increased the selling pressure of $ETH. Defying this bearish trend, Galaxy Fox ($GFOX) has emerged as a shining light, looking to extend its gains by up to 10x. Let’s find out why $GFOX is the best crypto to invest in today.
Selling Pressure on Ethereum Increases As Celsius Dumps $125M $ETH
Celsius Network, the embattled crypto lender that filed for bankruptcy in July 2022, has begun repaying its creditors. Arkham Intelligence reported that from January 8 to January 12, Celsius sold off more than $125 million worth of Ethereum coins.
While the sale of the $ETH coins is to be used in repaying creditors, Dune Analytics reported an even bigger selling trend. In the same period, over $1.6 billion worth of staked Ethereum were redeemed last. This is the largest redemptions recorded since the Shanghai upgrade last year.
Amidst the selling pressure, Ethereum demonstrated why it is a top crypto to buy. Despite losing the recently acquired $2,600 level, the price of Ethereum showed remarkable resilience, remaining above $2,500.
In addition, there has also been a surge of activity in the Ethereum dApp ecosystem. This trend has supported Ethereum’s resilience and could further back an increase in the coming days. If $ETH defends the $2,500 support through the selling pressure, it could be one of the best altcoins to buy in the first quarter.
Galaxy Fox ($GFOX) Gains Massive Momentum, Prepares for 10x Surge
Amidst the selling pressure of Ethereum, Galaxy Fox ($GFOX) has been building massive bullish momentum. The price of $GFOX has risen from $0.00066 to hit a new high of $0.00198 over the past few weeks.
The massive price surge of $GFOX has been sponsored by the project, bringing a transformative impact to the meme coin space. Galaxy Fox is pioneering full utility meme coins with an immersive blockchain gaming ecosystem.
The thrilling Web3 infinite runner game that powers the Galaxy Fox ecosystem goes beyond the limits of conventional gaming. Players are rewarded for their in-game skill with $GFOX tokens, so they’re not just pursuing fun. Every season, the top 20% of players will get prizes that they can redeem for the ERC20 coin, $GFOX.
Because of the unique niche of Galaxy Fox, the community has backed it to become one of the best meme coins to buy in 2024. The growing interest in Galaxy Fox has helped the team cross a major milestone of $2.8 million, making it one of the best ICO presales.
With this unique platform slated to launch this quarter, analysts predict a potential 10x increase for $GFOX, making it the best crypto to invest in today. $GFOX, priced at only $0.00198 per token, and is the best cheap crypto to buy now for anyone looking to gain from the 2024 bull market.
Celsius’s recent Ethereum sell-off, combined with the record unstaking of $ETH, has created some market anxiety. On the other hand, Galaxy Fox defied the selling pressure, with investors purchasing more $GFOX tokens.
Galaxy Fox’s unique offering, combined with its expanding momentum, makes it the best crypto to invest in today. If you want to profit from the anticipated surge, now is the time to invest in Galaxy Fox before it takes off.
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