All investors remember the collapse of FTX – one of the largest financial frauds perpetrated in history. It killed the bull market. But how did FTX grow so large in the first place? The trading experience was excellent and it provided a superb on-ramp for liquidity into crypto- especially altcoins.
Former NYSE president Tom Farsley has joined the auction process and may take over FTX. A reboot just in time for the bull market? Strangely, this is overwhelmingly bullish and signals massive liquidity inflows for alts like Galaxy Fox ($GFOX). Could $GFOX be one of the best cryptocurrencies to buy before the rebirth of FTX?
Will Former NYSE President Relaunch FTX?
Three parties are currently engaged in the auction process to revive the disgraced FTX exchange. Tom Farley, former NYSE president, is one of these candidates and a favorite amongst the community due to his deep and hands-on regulatory experience.
Competition between the three parties shows an open competitive interest in reviving the exchange. Even Gensler weighed in, stating that under new leadership a revived FTX would be viable on the condition it adheres to regulatory guidance.
But why are markets excited? Farley’s experience and credibility are exactly what a new FTX would need. Sam Bankman-Fried did profound damage to retail investors’ perception of crypto. If Farley’s takeover and revamp is successful, it would go a long way in repairing this tarnished reputation.
The knock-on effects similarly should not be underestimated. A new complaint and experienced leader at the helm operating in line with regulation will help cement crypto’s regulatory status in the United States. And best of all for existing crypto investors, unlock liquidity channels directly into altcoins.
Naturally, the next question is what cryptos to buy now before the FTX reboot.
Altcoins Set to Benefit: Galaxy Fox ($GFOX)
Altcoins (and particularly memecoins) will be the largest net beneficiaries of an FTX 2.0, and among the best cryptocurrencies to buy is $GFOX. The rebirth of FTX makes altcoins highly accessible and highly liquid and the largest gainers of increased liquidity always have been and always will be small caps. A compliant liquidity on-ramp into altcoin markets could be the perfect trigger for a new altcoin season.
But what is Galaxy Fox, and why is it a top crypto to invest in? $GFOX is a classic P2E token but with a twist. It introduces an ecosystem around its runner game that allows all token holders to participate and earn.
The classic play-to-earn model acts as an excellent hook for new investors, and Galaxy Fox pays out prizes to the top 20% of the leaderboard each season. But this nascent presale additionally includes NFTs that boost in-game stats, an NFT marketplace, deflationary tokenomics, staking rewards, real-world merchandise, and a Treasury charged with ecosystem growth.
Galaxy Fox’s long-term growth strategy is to become a widely recognized and adopted Web3 currency. To further this aim, the Treasury receives 2% of all buy and sell taxes to fund marketing efforts and community initiatives. This ensures a constant influx of new users.
Staking rewards have powered Galaxy Fox’s enormous presale success. Experienced investors realized that with nine staggered price increases and residual income unlocked at launch on a deflationary token located in the GameFi narrative, this ICO is easy money for all early participants.
Closing Thoughts: Presales in Pre-Bull Market Create Millionaires
A reboot of FTX will unlock retail liquidity flows and channel them directly into altcoin markets. And the news of a potential revival of FTX is simply another bullish catalyst alongside Spot ETF approvals.
The bull market is coming, and in this pre-bull market phase, presales are the best cryptocurrencies to buy. They can turn small investments into millions. Participate in the $GFOX ICO today and become a whale in 2024.
Learn more about $GFOX here:
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