The UK financial watchdogs shared plans to regulate stablecoins, and nations seeking to embrace crypto marks another clear-cut sign that digital assets are entering a fresh bull run. But what are the top cryptos to buy right now?
A look at the current top crypto investment choices. Investors can either adopt a risk-on approach that vastly outperforms in the bull market or continue to hold stablecoins and miss the entire move. Weighing Galaxy Fox’s ($GFOX) growth prospects against Dai’s ($DAI) stability paints the picture clearly, and investors who want to become whales need to allocate as soon as possible.
Galaxy Fox has entered the market in perfect conditions. Currently, in its presale, this trailblazing new P2E ecosystem will launch in bullish market conditions. Combining its small market cap and abundant ecosystem makes this an incredible recipe for fast growth.
Its impressive suite of features includes a Web3 runner game where the top-ranked players earn rewards each season, turning gaming skill into tangible profits. An NFT marketplace where users can buy and sell the Galaxy Fox collection, which will number 3,000 units, and each NFT will grant in-game stat upgrades. As the prize pool grows, valuations of NFTs are expected to skyrocket.
The Stargate module is the rewards center of the Galaxy Fox protocol and collects 2% of all transactions occurring across the ecosystem. Stakers can stake their $GFOX tokens and earn a proportional percentage of this revenue. This unique link between ecosystem expansion and staking payouts is another reason why $GFOX has been labelled a top crypto to invest in.
Early participants in the presale will lock in 450% gains in appreciation from the initial phase to the launch price. And token burns will periodically remove $GFOX tokens from the open market.
As it stands, with Galaxy Fox launching in buoyant conditions, possessing a small market cap, and deflationary tokenomics, the trajectory for this up-and-coming GameFi altcoin looks absolutely staggering. It certainly is one of the top cryptos to buy right now.
MakerDAO has always been the governing body behind the minting of the $DAI stablecoin. Known as DeFi’s decentralized stablecoin, $DAI has changed significantly since its inception. Initially, it was solely collateralized by $ETH. This ability to borrow against their $ETH stack made $DAI highly popular and helped $ETH become one of the top ten cryptocurrencies.
But over the years, the collateral requirements for $DAI have changed, and so has its commitment to decentralization alongside the level of counterparty risk it takes on. MakerDAO has taken full advantage of the high-interest rate environment, purchasing vast swathes of treasuries and using a good portion to collateralize $DAI.
What was once a fully decentralized and permissionless stablecoin is now collateralized by almost 50% RWAs or treasury bills. But this has added more complications and counterparty risks for $DAI holders. $DAI remains a great stablecoin, but it is not a top crypto to buy in 2023 as bullish sentiment consumes markets.
As markets gear up for another movement upwards, stablecoin holders waiting on lower lows will be sorely disappointed and will have to chase the pump later on. Investors who want to leverage this bull market to its maximal potential must now allocate before the fireworks begin.
Holding stablecoins like $DAI versus participating in exciting presales like Galaxy Fox cannot be fairly compared. Altcoin season is just around the corner, and tokens like $GFOX, with small market caps and solid value propositions, are the top cryptos to buy right now.
Learn more about Galaxy Fox ($GFOX) here:
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