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Investors are awaiting approval of a spot Bitcoin ETF in the United States. However, a recent survey by Bitwise Asset Management found that only 39% of financial advisors believe approval will be possible in 2024. As a result, investors are turning to Galaxy Fox (GFOX). This is to diversify the portfolio.
Spot Bitcoin ETF Poll
A recent Bitwise poll found that less than half of advisors expected a Bitcoin ETF to be approved in 2024.
Meanwhile, Bloomberg ETF analysts say there is a 90% chance of liquidation in January 2024.
This difference of opinion between financial experts and the general public could result in short-term volatility and lower cryptocurrency prices.
Investors exploring GFOX
Bitcoin’s reaction to the ETF ruling and its impact on the cryptocurrency market is a topic of interest in the mainstream media.
According to Bitwise research, advisors do not expect a spot Bitcoin ETF until 2024, which will cause investors to turn to tokens such as Galaxy Fox and its counterpart, GFOX.
The Galaxy Fox ecosystem includes a web3 endless runner game where players earn GFOX based on their in-game skills.
Rewards are awarded to the top 20% of players each season and are supported by a prize pool that provides a portion of 50% of in-game item purchases.
The platform will also release 3,000 exclusive NFTs featuring Galaxy Fox ecosystem characters through an ongoing pre-sale.
Token burning mechanisms and deflation strategies can support the price by making GFOX more scarce.
The staking program is supported by 2% of GFOX transactions. As expected, the more a user stakes, the higher the payout.
conclusion
Despite uncertainty over Bitcoin ETF approval, investors are still investing in Galaxy. Phase 6 of the GFOX pre-sale is underway, with over 90% of tokens sold and participants receiving a 15% discount.
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