The Cardano network recorded massive activity in 2023 as the number of transactions and developer activity increased. Unfortunately, the rising activity has done little to the price of ADA, as 65% of holders remain in losses.
Fortunately, a new crypto called Galaxy Fox ($GFOX) has emerged as a better investment opportunity. The project offers different earning opportunities for users and could be the best cryptocurrency to buy right now.
Cardano ($ADA) Holders in Losses Hit 65%
The public’s attention was drawn to Cardano’s ($ADA) current situation by IntoTheBlock, an on-chain data provider, in a recent post on X. They provided an overview of the ADA market and highlighted the rate of investor profitability at the current price level.
Despite a strong uptrend that began on October 20th, $ADA faced resistance at upper levels. IntoTheBlock’s data indicated that only 35% of $ADA holders were in a profitable position, which was notably lower compared to other major protocols.
This meant that 65% of holders were experiencing losses on their holdings. IntoTheBlock’s on-chain data identified a critical resistance level at $0.38, where 7.19 billion ADA had been acquired. According to the report, surpassing this level could improve the situation for 65% of $ADA holders who were at a loss.
This is because it would reduce resistance, thereby increasing profitability for holders. In the event that the $0.38 barrier is breached, ADA could target the $0.41 level. Meanwhile, data from CoinMarketCap revealed that $ADA has traded in the $0.370701-$0.395366 price range in the past week.
Galaxy Fox ($GFOX); The Next Big Thing in the Crypto and Gaming Sector
Galaxy Fox ($GFOX) is a newcomer to the blockchain space but has gained prominence as the best cryptocurrency investment option. Its unique ecosystem and earning opportunities have attracted users from across the crypto space.
According to a report by GlobeNewswire, the play-to-earn (P2E) gaming market is expected to reach $2.84 billion by 2028. As a result, Galaxy Fox launched the best web3 runner game, which features weekly and monthly gaming seasons. Interestingly, the top 20% of players on the leaderboard share 50% of the season’s prize pool.
These prizes come from in-game purchases, like attributes, accessories, and boosters, while the other 50% supports the project’s growth. Now, let’s look at the ERC-20 coin, $GFOX. Galaxy Fox’s native token. Experts have identified $GFOX as the best cryptocurrency to buy as it comes with numerous perks.
You can earn rewards by staking $GFOX. Also, $GFOX tokens are designed to decrease in supply over time, potentially increasing their value. During the presale phase, Galaxy Fox is launching a limited set of 3000 NFTs, the coolest NFTs in the NFT industry due to their rarity.
Currently, $GFOX is priced at $0.0008778. If you’re exploring for the best cryptocurrency to buy, $GFOX is your sure bet. Galaxy Fox has already raised over $400,000 during the presale, and experts anticipate a 20% price increase in December. This makes Galaxy Fox a compelling crypto for beginners and professionals alike
Conclusion
As Cardano continues to battle with bearish pressure, investors should consider Galaxy Fox ($GFOX) as one of the best altcoins to invest in. In addition, Galaxy Fox offers diverse earning opportunities such as through games and staking rewards. So, join one of the best ICO presales around while it’s still in the early presale stages!
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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