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SLERF, Solana’s newest blockchain, is in the news for a $10M disaster. Moreover, the presale for the P2E GFOX aims to reach $6 million this week.
The cryptocurrency market is experiencing a surge in investment as more players explore the play-to-earn option, and new blockchains continue to emerge on Solana.
GFOX Presale is Catering Spotlight
The GFOX crypto, an ERC-20 meme token, has been gaining popularity with its meteoric rise. This hybrid meme coin has already achieved an impressive $6 million in sales, setting a new benchmark for the potential of meme coins in 2024.
GFOX is a hybrid token with multiple utilities on the Galaxy Fox network and premium potential for passive income. Galaxy Fox generates financial rewards and offers premium entertainment value for investors by incorporating play-to-earn (P2E) and memecoin features.
The Huge Marketplace of Galaxy Fox ecosystem
The Galaxy Fox ecosystem also has a marketplace and a proposal for about 3,000 exclusive NFTs for GFOX holders. The network also dedicates 2% of transaction fees to its community’s growth and sustainability across social media platforms.
With GFOX, staking rewards are available to early investors from the presale. The protocol burn of the network has made GFOX an asset that experiences deflation. It is expected to increase the asset’s demand, value, and price in the coming months.
Over the past five months, GFOX has raised over $5.2 million through 10 presale stages and is currently worth $0.00364. The token is expected to reach $6 million in a few weeks at this rate. The token has been listed by analysts as 2024’s one of the most promising meme coins, with multiple utilities and potential for passive income generation for holders.
Solana’s New Blockchain SLERF Caused Disaster
SLERF’s $10 million disaster occurred when the anonymous developer claimed to have accidentally sent the presale funds to a burn address. It resulted in the loss of nearly 50% of the token’s supply and the $10 million allocated to presale participants.
Another situation occurred as some clever investors took advantage of the problem. That created a great demand, and the price of SLERF increased drastically after the burn.
However, it is important to note that some crypto exchanges have pledged their support for SLERF. HTX, Bitget, and BingX have declared their intention to offer traders who participated in the non-public sale of SLERF on their platforms the option of donating their trading fees.
The accidental burn has sparked a debate in the crypto community, with some investors believing that the “accidental burn” is a marketing scheme to gain the attention of investors and increase the token’s price. Some people argue that the developer’s expression of regret and recognition suggests that the burn was not intentional. Despite investors’ lingering questions about the reason behind the “accidental burn,” GFOX has maintained its stable price increase and is nearing the $6 million mark.
Summary
GFOX is a popular ERC-20 meme token with impressive sales of $6 million. The Galaxy Fox ecosystem includes a marketplace and 3,000 exclusive NFTs for GFOX holders. SLERF suffered a $10 million disaster due to the accidental loss of nearly 50% of its supply. Nonetheless, some crypto exchanges have pledged support for SLERF.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
