$LUNC Up 25% Despite Do Kwon Woes, $XRP Possible ETF & $GFOX Ready for Retail Launch
The post $LUNC Up 25% Despite Do Kwon Woes, $XRP Possible ETF & $GFOX Ready for Retail Launch appeared first on Coinpedia Fintech News
Crypto has a mind of its own that sometimes defies conventional wisdom and logic. A perfect example of that is the fact that Terra Luna Classic ($LUNC) is up 25% this month, despite Do Kwon’s legal troubles as the former Terra Luna CEO is facing extradition soon to the USA. Meanwhile, rumours are brewing about Ripple ($XRP) possibly getting an ETF – and one new presale is storming past all the competition. Galaxy Fox ($GFOX) is ready for its retail launch and could be the top crypto to invest in this quarter. It’s time to pick apart these stories and see what insights they offer for the coming two years of mania.
Galaxy Fox ($GFOX) Ready For Retail Launch
Galaxy Fox is gearing up for its retail launch. The greatest indicator of future performance for presales has always been their ability to generate early momentum. Galaxy Fox’s blockbuster $3.5 million raise in several weeks and ability to sell over 2.7 billion tokens points to a massive price discovery phase.
Already 93% sold out, the window to become an early adopter in this hybrid protocol is rapidly closing. Galaxy Fox blends the best of the memecoin and P2E genres in its next architecture and, as a result, is one of the only tokens that unlocks exposure to both narratives. Its endless runner game pays out prizes at the end of each season, and in this galactic ecosystem, gaming acumen translates into real cash.
Galaxy Fox’s exterior and aesthetic give it that classic memecoin upside. Its tokenomics include the traditional burn, and the protocol incorporates staking rewards. Any $GFOX holder can start earning passive income, and because of the burn and unique implementation of taxes, these rewards are fully deflationary.
$GFOX’s title as a top crypto to invest in comes from its value accrual and supply dynamics. When staking rewards start flowing and demand to own $GFOX increases, fewer tokens will be on the open market. New buyers will have to pay a premium, and $GFOX will undergo a drastic repricing event.
Terra Luna Classic ($LUNC) Up 25% as Founder, Do Kwon, is Extradited
Terra Luna Classic is up more than 25% in the last month despite a Montenegro court ruling to extradite founder Do Kwon to the United States. This would be instead of Kwon facing courts in his native home of South Korea. The $40 billion Terra Luna crash devastated crypto markets and was one of the bear market’s key events.
Initially, the algorithmic pair for TerraUSD ($UST), the tale of $LUNC, has to be one of the craziest in crypto. It rallied without pause before finally crashing in flames. Do Kwon being back in the media has driven this short-time pump, but $LUNC is definitely not a top crypto to invest in. This short-term move, lending strength to the adage that there’s no such thing as bad publicity.
Ripple ($XRP) Potential ETF?
Could Ripple be getting an ETF? Will it be the third of the top ten cryptocurrencies to taste the sweet fruits of institutional capital? It is uncertain where these rumors have arisen, but Ripple’s CEO Brad Garlinghouse made a compelling case for an $XRP ETF and, more broadly, a more extensive selection of crypto ETFs for investors to choose from.
Ripple, branded as a crypto solution for businesses, would benefit immensely from an ETF. It would unlock access to $XRP via standard brokerage accounts, and if this ETF saw anything remotely close to $ BTC-style inflows, it would massively increase $XRP’s value. How much faith to posit in these rumors is an entirely different ball game, and consensus remains among analysts that Ripple is incredibly overvalued.
Closing Thoughts: Is An Altcoin Season Coming?
Talks of an $XRP ETF. Do Kwon being extradited to the US and $LUNC still pumping? Galaxy Fox prepping for a massive price discovery phase. All this market activity points to swelling demand for altcoins, and could another altcoin season be on the horizon?
Galaxy Fox is the top crypto to invest in for anybody serious about making it this cycle. A fresh launch in bullish sentiment is how 100Xs happen, and anybody who wants to join this cosmic party needs to move fast!
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