The influx of institutional capital has sent Bitcoin ($BTC) flying to new ATHs. Still, for the other top ten cryptocurrencies things have not been as rosy. SEC seeks nearly $2 billion in fines from Ripple ($XRP), sending the $XRP price down while memes continue pumping.
Memecoins have been the dominant pocket of outperformance this cycle, and this trend is only accelerating. While leading altcoins from the last cycle flounder projects like Galaxy Fox ($GFOX) are aggressively surging. Investors want to stand on the right side of these emerging trends. Markets are repricing memecoins, and they are the top cryptos to buy right now, heading into the halving.
Ripple ($XRP) SEC Seeks Nearly $2 Billion in Fines
Despite Ripple obtaining a favorable ruling in July last year where a US judge affirmed that $XRP was not, in fact, a security, the United States Securities and Exchange Commission (SEC) hasn’t given up. Now, the SEC is seeking nearly $2 billion in fines, charging Ripple Labs with unlawful sales of unregistered securities.
Ripple raised over $1.3 billion selling $XRP tokens, and the devil is all in the details. The last court case victory hinged on the fact that Ripple sold on public exchanges did not meet the legal definition of a security- but private sales made by the team are an entirely different ball game. All this regulatory doubt hanging over $XRP is terrible news for price, and the sell-off makes perfect sense.
Why would investors want to hold a laggard from the last cycle being pursued by the SEC? Despite being a top crypto to buy in prior cycles, the outlook appears bleak for $XRP holders in 2024/ 2025. Likely to be among the worst performers in the top ten cryptocurrencies in the coming twelve to eighteen months.
Galaxy Fox ($GFOX) Sailing Towards $6 Million
Galaxy Fox is soaring, and this next-gen memecoin is the talk of the town. Cruising past $5 million in its presale and rapidly approaching $6 million, investors have an enormous appetite for memecoin ownership, and $GFOX is surfing this wave perfectly. Galaxy Fox blends the play-to-earn and memecoin genres together, creating a new hybrid model.
GameFi and memecoins emerging as the two dominant trends explain this project’s early success, and there is nothing stopping this small-cap from becoming a monster this cycle. Its addictive Web3 runner game pays out prizes to the top-ranked players each season and provides an excellent onramp into the broader ecosystem.
Galaxy Fox’s growth strategy shines through its tokenomics model and Treasury. The dual value accrual mechanisms of staking rewards and an aggressive burn campaign are still grossly misvalued by the market. A deflationary cash-flowing asset in two of this cycle’s largest trends is an easy 100X recipe.
The Treasury is another prime example of excellent business logic. Supported by revenue from real-world merchandise it supports community initiatives and marketing efforts to drive ecosystem growth. Closing in on its retail launch, this small-cap promises one of 2024’s most explosive price discovery phases. It is a token that every investor should add to their watchlist.
Closing Thoughts: Memecoin Trend Accelerating
While the SEC pursues Ripple, the memecoin trend continues accelerating, and investors must adapt accordingly. A disappointing performance awaits investors who are heavily invested in the top ten cryptocurrencies, and all the returns in this cycle will be made with small caps.
Galaxy Fox is a perfect example of a project primed to outperform the market. Join this presale today and become an early adopter in what looks like 2024’s breakout memecoin!
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