Altcoins are showing great vitality. Now that Bitcoin ($BTC)’s moment in the spotlight is over and the Ethereum ($ETH) rally is taking shape (despite the current market retracement), it’s only a matter of time before the altcoin begins its famous double-digit daily gains. benefit. However, not all altcoins are created equal. Best Cryptocurrencies to Buy Now Investors should pay attention to token economics and token unlocking.
There is a minefield of hidden selling pressure heading into 2024, with more and more major unlocks for major tokens. Injective ($INJ) unlocked $139 million worth of tokens on January 21, which could hamper the chances of a strong recovery after the carnage for the broader market passes. What pre-sale investors are paying attention to Galaxy Fox ($GFOX) pre-saleBetting on deflationary token economics this year.
Injectable ($INJ) Last Token Unlocked: $139 Million Selling Pressure?
Injective was one of the strongest performers in the final quarter of 2023 and the start of the year. However, despite being the best cryptocurrency to buy, token unlocking has left investors anxious due to the cliff unlock occurring on January 21st.
A total of 4.33% of the circulating supply has been unlocked, with the bulk going to the team and some to advisors, the two groups most likely to sell tokens. Over the next few weeks, $139 million of sales pressure will flow into the feed order book, and retailers will be responsible for absorbing it. That’s a tall order, considering Grascale and FTX’s dumping of BTC devastated the market last week.
Lockdowns are always difficult times for price action. The team deserves to enrich themselves after building this premier blockchain. Built using the Cosmos SDK, Injective is tailor-made for financial applications, including fundamentals such as on-chain order books and MEV resistance. Still, that doesn’t change the fact that retail bidders are buying the team’s bag and taking a loss.
Galaxy Fox ($GFOX) pre-sales exceed $2.9 million.
Galaxy Fox Interest and capital in stocks has increased in recent weeks as investors begin to understand the advantages of holding deflationary assets during a bull market. Its latest funding surpassed $2.8 million, and there’s nothing stopping this new hybrid token from surpassing $5 million in the coming weeks. In a sea of token unlocks, could this be the best cryptocurrency to buy right now?
The token burn and fair launch mechanisms utilized by Galaxy Fox have driven much of this engagement as investors realize the looming reality of unlocking nearly all of the top 10 cryptocurrencies and major altcoins. In TGE, most $GFOX tokens will be active and pre-sale participants will own 70%. This distributed ownership prevents large wallet dumping.
Another key feature of this ecosystem is staking rewards. Galaxy Fox has implemented a unique taxation system that funds staking payouts, allowing all $GFOX holders to earn returns on their deflationary assets. Early stakers can relax and enjoy passive income. Burns continue to reduce supply, and this powerful combo is one to watch heading into the bull market.
Deflationary tokens could easily be breakout stars this year. During a bull market, tokens, especially those with passive income like $GFOX, naturally experience price spikes as demand increases and total supply decreases. More capital seeking fewer tokens is excellent for early holders.
Closing Thoughts: Experts Overvalue Deflationary Tokens in Bull Markets
Experts dive into token economics all the time, but unfortunately many cryptocurrency investors don’t take the time to do it. Token economics plays a big role in finding the best cryptocurrencies to buy right now, and investors who ignore them are putting themselves at a disadvantage.
With the recent uptick in interest in $GFOX ownership, the robust deflationary tokenomics model is already starting to command a premium. Join the presale today and get your allocation while it’s still undervalued!
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