Ethereum

Solana

Galaxy

Read

Markets are swinging higher driven by fundamental factors. Recent rallies, especially in Solana (SOL), have triggered a resurgence in layer-1 networks. Legacy blockchains like NEO’s GAS surged by 182% last month. Can GAS outperform new projects like Galaxy Fox (<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=crypto.news&amp;utm_content=18" target="_blank" rel="noopener noreferrer nofollow">GFOX</a>)?
<h2 class="wp-block-heading" id="strong-neo-s-gas-surges-182-strong">NEO’s GAS surges 182%</h2>
Neo is a blockchain network launched in 2016 as a scalability-focused alternative to <a href="https://crypto.news/nearly-6-5b-in-bitcoin-and-ethereum-options-are-set-to-expire/" data-type="post" data-id="14219715" rel="noopener noreferrer nofollow">Ethereum</a>, sometimes called the “Chinese Ethereum.” GAS fuels transactions on Neo blockchain and also provides governance rewards for participants.
Despite skepticism towards Neo rivaling struggling predecessor EOS, GAS has recently seen a notable price surge. This comes as Neo prepares to launch an Ethereum Virtual Machine (EVM)-compatible sidechain to improve interoperability.
You might also like: <a href="https://crypto.news/kraken-is-investigating-erroneous-transactions/" rel="noopener noreferrer nofollow"> Kraken is investigating erroneous transactions&nbsp; </a>
Because all activity on this new sidechain requires GAS to pay fees, investors anticipate substantially increased GAS utility and adoption. Heavy accumulation has occurred on the Korean exchange <a href="https://crypto.news/upbit-receives-license-from-singapores-financial-regulator/" data-type="post" data-id="14204539" rel="noopener noreferrer nofollow">Upbit</a>, driving prices higher amid speculation.
While increased GAS usage should also boost demands for NEO, given Neo’s underlying role, the two tokens have diverged lately as GAS directly unlocks functionality.&nbsp;
Some are questioning the sustainability of the utility rally and its comparison to newer blockchain projects.
<h2 class="wp-block-heading" id="strong-galaxy-fox-funding-strong">Galaxy Fox funding</h2>
<a target="_blank" href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=crypto.news&amp;utm_content=18" rel="noopener noreferrer nofollow">Galaxy Fox</a>&nbsp;offers a web3 runner game and innovative tokenomics. Like GAS, GFOX, the platform’s native token, has been inching higher. At this pace, analysts believe GFOX will extend gains throughout 2023 and 2024.&nbsp;
Beyond its play-to-earn rewards for top-ranked players, Galaxy Fox offers staking rewards and has adopted a deflationary mechanism. This combination of features could explain the rising interest among investors.
You might also like: <a href="https://crypto.news/galaxy-fox-injective-aave-quant-which-will-outperform-the-market-this-christmas/" rel="noopener noreferrer nofollow"> Galaxy Fox, Injective, Aave, Quant: which will outperform the market this Christmas? </a>
While Galaxy Fox has a significantly smaller market cap than established cryptocurrencies like Neo, analysts believe its growth potential remains immense.&nbsp;
Moreover, while Neo has grown, GFOX is still in its presale phase. Accordingly, some analysts think the token has more upsides as the market recovers.
<h2 class="wp-block-heading" id="strong-closing-thoughts-strong">Closing thoughts</h2>
Whales tend to prefer new protocols over old ones because the former has a much higher potential for growth. To maximize returns in this cycle, investors can focus on small caps and presales of ongoing projects like Galaxy Fox.
Learn more about GFOX here:
<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=crypto.news&amp;utm_content=18" target="_blank" rel="noopener noreferrer nofollow">Visit Galaxy Fox Presale</a>&nbsp;|&nbsp;<a href="https://t.me/galaxyfoxtoken" target="_blank" rel="noopener noreferrer nofollow">Join the Community</a>
Read more: <a href="https://crypto.news/galaxy-fox-versus-3-popular-meme-coins-on-solana/" rel="noopener noreferrer nofollow"> Galaxy Fox versus 3 popular meme coins on Solana </a>
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

NEO’s GAS surges 182%: exploring possible drivers

목차

crypto.news

2023년 11월 30일에 게재된 다른 기사

Alchemy Pay Introduces New Ways To Buy Crypto In Europe And The UK

24 Crypto Update, 29 Nov: Crypto remain calm ahead of Powell's speech

Bitcoin (BTC) Price Analysis: 37608 The Major Level At Month’s End – 1 December 2023

eCash Monthly Recap - November 2023

SoFi Technologies Announces Termination Of Crypto Trading Services

Meme Stocks Return to the Limelight as GME, AMC Shares Rise

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!