It’s been a rollercoaster ride in the crypto space lately, and Ether ($ETH) seems to be facing its fair share of hurdles. As of November 27, $ETH is grappling to maintain the $2,000 support, with its third attempt in 15 days to break the $2,100 mark falling short. So, what’s causing this stumble in $ETH’s price, and what is being considered a good crypto to buy by investors right now?
$ETH Value Dips with dApp Volume Decrease
The recent crypto drama includes the U.S. Department of Justice (DOJ) putting Binance founder Changpeng “CZ” Zhao in the hot seat. In a filing on November 22, the DOJ sought a review of a judge’s decision allowing CZ to return to the UAE on a $175 million bond, citing concerns about flight risk. This uncertainty casts a shadow over the entire crypto market, and $ETH feels the impact.
Adding fuel to the fire, a $46 million exploit on KyberSwap on November 23 has shaken the confidence in decentralized finance (DeFi) applications on the Ethereum network. Despite audits, the incident raises questions about the safety of the DeFi industry, leaving investors on edge. Tether’s recent announcement of the U.S. Secret Service’s integration into its platform and potential FBI involvement further contributes to the growing skepticism and negatively impacts Ether’s performance.
As if that weren’t enough, the competition between $ETH and Bitcoin for spot exchange-traded fund (ETF) approval in the U.S. is intensifying. Ether exchange-traded products (ETPs) saw only $34 million in inflows in the week leading to November 27 – a mere 10% of the inflow of equivalent Bitcoin crypto funds. The struggle is real for $ETH, reflected in the declining demand for Ethereum staking, with a notable outflow of $349 million in the same period.
What Are Investors Buying Instead? Introducing Galaxy Fox
Amid the $ETH storm, Galaxy Fox is emerging as a rising star. This unique project is not just about trading tokens but a thriving ecosystem with the best NFTs to invest in and a P2E Web3 runner game that lets users earn while having a blast. And here’s the kicker: Galaxy Fox has reached a milestone of $4000K in its presale!
Beyond its addictive game, this good crypto to buy stands out with its viral artwork that’s not just for show. The project leverages this artwork to sell real-world merchandise, funneling the revenue back into the Treasury to support community initiatives and fuel marketing efforts.
Speaking of marketing, Galaxy Fox understands its importance in the crypto world. The team has crafted viral characters making waves on Crypto Twitter, ensuring the project’s visibility in bull markets. With features like staking, Galaxy Fox becomes the best cheap crypto to buy right now for crypto beginners, offering a steady source of passive income.
The Stargate module in Galaxy Fox ensures that 2% of all ecosystem transactions contribute to stakers, creating a constant flow of capital within the ecosystem. With buy and sell taxes directed to Stargate, the Treasury, and the liquidity pool, Galaxy Fox is designed to reward its supporters and propel it into mainstream consciousness.
Joining the presale of the $GFOX token early comes with perks, including gains of up to 450% at launch. Stakers can expect growing payouts as the project evolves, ensuring a win-win for those riding the Galaxy Fox wave. With 556.1 million tokens sold via presale and a fair launch mechanism, early investors might find themselves in a sweet spot as token supply decreases and demand surges.
To Sum Up
So, here’s the takeaway: Galaxy Fox is soaring high while $ETH faces challenges. If you’re looking for a good crypto to buy that’s not just about trading but offers a vibrant ecosystem, check out Galaxy Fox. Don’t miss out – visit the Galaxy Fox website and join the community on Telegram to stay in the loop. The crypto world is full of surprises, and Galaxy Fox is one you definitely want to keep an eye on!
Learn more about $GFOX here:
Visit Galaxy Fox Presale | Join the Community
