On January 10th, the SEC granted approval for a series of Bitcoin ($BTC) Spot ETF products, and they were launched the following day. These Bitcoin ETFs witnessed the highest first-day inflow rate, surpassing all previous ETFs, with a total volume of $4.5 billion in first-day trading on January 11th.
Institutional capital has entered the scene, eager to participate. Those familiar with crypto have an edge and should be identifying their top 5 cryptocurrencies for investment before the anticipated surge of liquidity into the broader DeFi ecosystem. Here are the top 5 coins to consider post-ETF approval, excluding Bitcoin: Ordinals ($ORDI), Ethereum ($ETH), Ripple ($XRP), Dogecoin ($DOGE), and Galaxy Fox ($GFOX).
Galaxy Fox ($GFOX): The Premier ICO of 2024
Galaxy Fox has outperformed its ICO peers in fundraising, a key indicator for an ICO’s future potential. With over 2.3 billion $GFOX tokens sold and more than $2.7 million raised, it stands out in the early stages.
The anticipated post-ETF liquidity surge is expected to greatly benefit, particularly small caps like $GFOX, which could experience significant growth in the upcoming months. Its modest market cap, well-crafted tokenomics, and narrative alignment position $GFOX as one of the top 5 cryptocurrencies to consider investing in this quarter.
Galaxy Fox, a hybrid protocol combining play-to-earn and memecoin elements, revolves around an engaging runner game, offering financial incentives typical of P2E. What sets Galaxy Fox apart is the ecosystem surrounding the game.
Staking rewards provide earning opportunities for all holders, token burns ensure a diminishing supply, and the proactive Treasury contributes to ecosystem development, promising substantial returns in bullish conditions. Positioned at the intersection of the memecoin trend and the growing GameFi narrative, this ICO is poised to deliver remarkable annual returns for early participants.
Ordinals ($ORDI): Embracing the Evolution of Bitcoin
Ordinals ($ORDI) stands as the inaugural BRC-20 token, presenting a clear $BTC beta play in the aftermath of the ETF approval. In the coming months, assets even remotely associated with Bitcoin are poised to surge due to the influx of steady capital. Cryptocurrencies like $STX and $ORDI emerge as among the most favorable choices for amplified exposure to $BTC.
The capability to encode diverse data onto Satoshis has paved the way for the development of tokens and NFTs on the Bitcoin blockchain. Notably, Ordinals’ NFT volume on the $BTC network surpassed that of Ethereum in late December. Introducing novel functionalities to the Bitcoin blockchain, Ordinals secures its place as one of the top 5 cryptocurrencies to consider for investment in the post-ETF era.
Ethereum ($ETH): The Subsequent ETF Narrative
Ethereum ($ETH) experienced a more significant surge than $BTC on the day of the ETF approval, as forward-looking markets witnessed traders pivoting towards the next ETF narrative: the $ETH ETF. Historically, Ethereum has often followed Bitcoin’s trajectory, and the approval of the $BTC Spot ETF augurs well for the prospects of an $ETH ETF.
Anticipate a series of technical upgrades later this year, coupled with growing interest from lawmakers bidding on $ETH. Given Ethereum’s typical pattern of rallying after Bitcoin, and with the ETF narrative taking the forefront, expect $ETH to outperform in the coming months.
Dogecoin ($DOGE): Is Retail Making a Comeback?
Dogecoin stands as a front-runner among the current top cryptocurrencies to consider for purchase. The positive impact of the Bitcoin ETF on market sentiment towards crypto is expected to attract the gradual return of retail participants to order books. With capital re-entering the market, anticipate swift interest in the premier memecoin. Initiating a long position in $DOGE as retail participation resumes is viewed as a straightforward trade.
Final Considerations: Is Q1 Setting the Stage for Altcoin Season?
In blunt terms, $BTC Spot ETFs, while not entirely aligning with the ‘true crypto ethos,’ have unleashed substantial liquidity, contributing to the legitimation of crypto ownership. This comes in the wake of the challenging aftermath of the SBX debacle.
The increased liquidity and improved perception are poised to provide significant momentum for the entire industry. Projects like Galaxy Fox can potentially experience remarkable rallies, capitalizing on these positive developments in the coming months. With its modest market cap, strategic narrative alignment, and robust economic model, Galaxy Fox stands out, even among the top 5 cryptocurrencies to consider for investment now. Participate in the presale today and ride into the post-ETF era, backing a potential winner.
