Cryptocurrency
Polygon Network Matched Ethereum for Growth in 2023, Can $GFOX Outpace $BONK
News that the Polygon network is on par with Ethereum regarding growth in user adoption sent shockwaves through the crypto industry.
Similarly, Galaxy Fox, the new P2E blockchain project is an interesting one as users wait to see if $BONK can recover from its massive sell-off during the recent market downturn.
Polygon Nearly Levels Up with Ethereum in User Growth
Recently, data revealed that Polygon Network experienced significant growth in 2023, making it almost exactly even with Ethereum in terms of growth in user adoption. While Ethereum gained 15.4 million users last year, Polygon came within a hair’s breadth by gaining about 15.24 million – a remarkable 142% increase in its user adoption since 2022.
At the start of 2023, Polygon took the lead over Ethereum in user growth by acquiring an impressive 2.8 million users. However, the momentum slowed down a bit, allowing Ethereum to take over and maintain the lead till the end of the year. Moreover, both networks experienced their peak in user growth in May 2023.
This increase in the adoption of Polygon’s network shows that it is getting better at attracting users with its faster and cheaper transactions. This update also hints that Layer-2 solutions, the basis of the Polygon network, will significantly make blockchain more scalable and increasingly adaptable.
Although Ethereum still maintains the top spot in overall blockchain performance right now, several crypto experts believe it will continue to experience intense competition from Polygon’s Layer-2 scaling solution over the coming years.
Bonk Price Prediction: Massive Sell-off Keeps $BONK Price in the Red
After $BONK got listed on Binance and other major crypto exchanges, it experienced an uptrend, which saw its price rise 1000% within one month. However, this rally was followed by a decline when traders began to sell their $BONK tokens massively to lock in their profits.
Among the sell-offs that triggered a decline in the price of $BONK was the one that happened on December 15, 2023. According to data from Lookonchain, a blockchain analytics platform, a trader who had earlier bought 69 billion $BONK for $0.000021 sold over 70% of its $BONK portfolio for almost a million dollars gaining about $750,000 in the process.
As a result, the $BONK price dropped by over 65%, and it dipped from its all-time high of $0.00003419 to trade at the current price of $0.00001189.
Galaxy Fox Reveals Features Worthy of Outpacing Top Coins
While $BONK experienced a price decline due to massive selling pressure, $GFOX stands out as an interesting project, though it is yet to launch.
Galaxy Fox blends many opportunities that bring much interest to the industry. These opportunities are not limited to token ownership but include staking, play-to-earn (P2E), and trading NFTs.
Notably, Galaxy Fox ecosystem controls an interesting Web3 endless runner game in the play-to-earn aspect, allowing investors to have fun while earning rewards in $GFOX tokens. Top players who are among the 20% of the highest-ranked will also receive rewards from the prize pool every season. Also, players can temporarily boost their in-game abilities with cool NFTs to have better chances of winning.
For investors who choose to hold their tokens in loyalty to the ecosystems, Galaxy Fox ensures they are adequately rewarded by reserving rewards for them in the platform’s central hub for distributing funds called Galaxy Fox Stargate. Funds get into this hub with contributions of 2% of every transaction within the ecosystem.
Galaxy Fox also runs a treasury that provides funds for community initiatives and future developments to prove how transparent and accountable it can be. Moreover, it supports a strategy called ‘token burn’ to curb possible inflation of the $GFOX. Galaxy Fox is in stage 7 of its presale, and it sells for $0.00198. Over 93% of the tokens allocated for this stage have already been sold, and the presale is expected to progress to stage 8 within the next few days, where its price will increase by 10%.
While Polygon continues gaining adoption, many analysts predict it might outpace Ethereum at some point. Meanwhile, $BONK’s recent downtrend is expected to ease once the massive token dump stops. As for $GFOX, it serves as an interesting alternative to watch.
Learn more about $GFOX here:
Visit Galaxy Fox | Join the Community
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Cryptocurrency
Should Ripple’s XRP Be Part of the US Digital Asset Reserve? Community Debates
President Donald Trump splashed the crypto waters earlier this week when he signed an executive order focused on digital assets to be potentially included in the US reserves.
Although it’s not officially approved yet, the decision has sparked substantial debates within the community on which cryptocurrencies should be included or whether it should just be bitcoin.
The Debate
Ever since Trump changed his tune on the crypto industry last year and made dozens of optimistic promises during his election campaign, the talk of the town has been whether he will stay true to his word and establish a US BTC reserve.
The first portion of that plan would be for the US government to stop selling the seized BTC from illegal operations. However, Trump went further on Thursday by signing an executive order titled ‘Strengthening American Leadership in Digital Financial Technologies’ to explore the inclusion of various cryptocurrencies into the US reserve.
This sent shockwaves throughout the community, especially those favoring many US-based projects and their underlying assets, such as SOL, XRP, and ADA. Many believe that companies like Ripple are actually working against BTC in this manner by ‘throwing around millions at politicians, desperately trying to derail it.’
Brad Garlinghouse, Ripple’s CEO, refuted the accusations, saying their efforts ‘are actually increasing the likelihood of a crypto strategic reserve (which includes bitcoin) happening.’
Unless you are choosing to ignore the core tenants of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening.
— Brad Garlinghouse (@bgarlinghouse) January 23, 2025
No XRP, Please
Messari’s founder, Ryan Selkis, joined the anti-XRP front, indicating that the Ripple incentive is ‘toxic.’ He went further, described the project’s native token as a ‘piece of s**t,’ and said it would be better to have no crypto strategic reserve than to put XRP in it. Selkis concluded that BTC is the only exception and that it makes sense to be the sole crypto rep in that reserve.
America-First is not “American-Shitcoin First”
We’d be better off having no strategic reserve than one with a “endorsed” pieces of shit like XRP.
Still, I think Bitcoin is an exception.
1. Build different (with energy)
2. Lindy, mcap dominance, no insiders
3. Global traction https://t.co/eCNhKjpgSL— Ryan Selkis (d/acc) (@twobitidiot) January 23, 2025
In contrast, Cardano’s Charles Hoskinson, who has been collaborating with the Ripple team for a while now, said there’s no need to ‘base XRP’ and claimed that the strategic reserve will start as bitcoin-only.
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Cryptocurrency
Quick Hit: 3 Exciting Expert Bitcoin Price Predictions for 2025
Bitcoin’s price has been on a spectacular run for the past few months, going from under $70,000 to almost $110,000 to break its previous all-time high and mark a new one, well within six-digit territory.
The micro-scale has also turned positive as the asset recovered its 30-day percentage gain or loss to above 6% at the end of the week. The world’s most prominent cryptocurrency is trading at nearly double its price six months ago.
Furthermore, it can be had or sold for more than 100% of its exchange rate 12 months ago.
BTC Experts Remain Overwhelmingly Bullish
But, most Bitcoin experts surveying the market conditions for blockchain assets today are very bullish on the currency’s prospects for another extended leg up the chart over the coming months in 2025.
Some of the main reasons for the strong forward sentiment:
- First, there’s Donald Trump’s reelection, a new crypto-friendly SEC chair, and plans in Congress to appropriate US tax dollars to buy and hold Bitcoin in a strategic national reserve.
- Then there’s Bitcoin’s enormous demand, miner network participation, powerful use cases, limited currency supply, and the bullish phase of its four-year supply cycle.
- Finally, there’s the rapidly expanding US dollar supply under a low interest rate regime, four years of record-setting US budget deficits ahead, and economic and geopolitical uncertainty.
Here are three recent Bitcoin price predictions from cryptocurrency experts:
2025 Expert Bitcoin Price Predictions
Aquinas Wealth Advisors: $130,000
According to Christopher McMahon, CEO of Aquinas Wealth Advisors and author of “Faithful Finances,” Bitcoin’s price will top $130,000 this year. McMahon’s is the lowest of the three forward targets for BTC in 2025. He argues that institutional adoption of cryptocurrencies will make the numbers go up.
Motley Fool: $200,000
According to a cryptocurrency analyst at the popular investment website Motley Fool, $200,000 BTC is “not only possible but also… fairly probable.” He’s tracking Bitcoin’s steep historical trend line, new investors, especially globally, as well as governments and companies joining the blockchain race.
BlackRock: $700,000
Meanwhile, of all current expert Bitcoin price predictions, BlackRock CEO Larry Fink’s stands out most. The Wall Street executive warns Bitcoin’s price could rocket to $700,000 this year. The rocket fuel? Fink argues his math works out if a number of large hedge funds begin to allocate 2% to 5% of their holdings to BTC.
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Cryptocurrency
Bitcoin (BTC) Stable at $105K, Avalanche (AVAX) Gains 6% Daily (Weekend Watch)
Bitcoin’s price movements over the weekend have been quite underwhelming, but the asset has remained stable at around $105,000.
The altcoins are with minor gains on a daily scale but the weekend charts show a different picture for many of them.
BTC Holds Steady at $105K
The largest cryptocurrency went through a spectacular ride at the beginning of the business week. It began with a nosedive on Monday morning from $106,000 to under $100,000 before it exploded to a new all-time high of over $109,000. More volatility ensued before, during, and after Donald Trump’s inauguration speech as he failed to mention crypto.
Following a price slump to $101,000, the bulls stepped up and didn’t allow a price slump into five-digit territory. In fact, BTC started to recover some ground and spiked to $107,000 a few days later. It failed there and was pushed south by three grand on Saturday morning but has recovered from that decline and now sits about a grand higher with little to no movement over the past 12 hours.
Its market capitalization has climbed to $2.080 trillion on CoinGecko, while its dominance over the alts stands tall at 55.4%.
AVAX on the Rise
The largest altcoins have recovered some of the losses charted yesterday. Ethereum has bounced above $3,300 after a 1.3% daily increase, while XRP is above $3.1 following a similar increase. BNB, DOGE, and ADA stand in the same bracket.
Solana and Chainlink have gained around 3% each and now trade at $255 and $25, respectively. Avalanche has emerged as the top performer from the larger-cap alts, surging by 6% to $37.5.
The biggest gainers from the top 100 alts are XCN (91%), OM (30%), TAO (13%), and TRUMP (10%).
The total crypto market cap has recovered over $60 billion overnight and is up to $3.750 trillion on CG.
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