This Week In Crypto: $WIF Explodes 125% As $GFOX Surpasses $4 Million; $XRP To Rally?

The Fear and Greed Index is back in the greed territory, and Jerome Powell maintained rates for the moment, but his tone suggested that cuts may be coming soon. This week in crypto looks set to be a rollercoaster with airdrops galore.

While dogwifhat ($WIF) adds another mind-blowing 125% to its already insane gains, Galaxy Fox ($GFOX) soars towards $4 million. And even after experiencing a breach, Ripple ($XRP) looks ready to rally. Altcoins are the flavor of the month, and the cryptos to look out for could be the new projects from this cycle with small market caps.

Galaxy Fox ($GFOX) Smashes $4 Million Level

Galaxy Fox is one to watch out for in this week's crypto news. Its seventh presale stage is already 95% subscribed. Galaxy Fox recently crossed the $4 million threshold and now has its sights firmly set on breaching $5 million.

This play-to-earn/memecoin hybrid is deploying a new standard for earning and entertainment in DeFi, and smart money wallets have been notable participants in driving this presale’s early success. Galaxy Fox's model is simple. It onboards users via its Web3 runner game, which enables skilled players to earn real cash prizes. And then, when these users realize the earning potential within the ecosystem, they stay.

Staking rewards are a massive part of this galactic ecosystem and are integrated into its economic model. Galaxy Fox’s sophisticated taxation system orchestrates capital where it needs to go in the ecosystem. This causal link between ecosystem growth and staking payouts makes all $GFOX stakeholders, and icing on the cake, they are earning yield on a deflationary asset.

dogwifhat ($WIF) Still Booming 

The Solana ($SOL) ecosystem is fascinating. The launch of Jupiter's token ($JUP) was a huge event, and the airdrop enriched the ecosystem. $JUP has mindshare and is undoubtedly one of the top cryptos to buy right now. So why is dogwifhat ($WIF) on the rise yet again? The fast-paced nature of narratives and trading on Solana has made capital notoriously elastic. It moves faster, and traders change positions more often. Solana's low fees and high performance have also been an influencing factor in this volatility.

$WIF remains a firm favorite with degens and will likely see even more insane gains in the coming weeks, though don't be surprised if it also sees some violent pull-backs. 

Ripple ($XRP) Post-Hack Pump? 

Ripple has been all over the news, but not for the right reasons. A $112 million hack occurred, affecting one of the protocol's co-founders, Chris Larsen. Luckily, no company wallets were exploited, only those belonging to Larsen. The news of this exploit pushed $XRP's price down toward $0.50, and this is a major support zone for the token. Ripple trading around this level and not breaking to the downside indicates a more powerful move upwards is loading.

Seller exhaustion and bad press were the events that marked the bottom for Ripple. Now, $XRP is poised to enjoy a rally that will shock many onlookers.

Closing Thoughts: Altcoin Season Loading

Some traders favor new projects over old and believe that the next generation of memecoins and DeFi tokens could blow the top ten cryptocurrencies and other major altcoins out of the water from an ROI perspective.

The Galaxy Fox presale is an extraordinary event, and its continued success, even as other protocols show signs of weakness, speaks volumes for its future trajectory. Learn more about the opportunity before the presale closes.

Learn more about $GFOX here:

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This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.