After the BTC ETF is approved by the SEC, institutional funds buy in large quantities, pushing BTC to rise and driving the entire cryptocurrency market to enter a bull market. So, for investors who are used to a bear market conservative mindset, how should they change their strategies to adapt to a bull market? For Web2 users who are about to enter the market, how to make the most of Web3 is also a topic worth discussing.
Investment strategies under the positive news, starting with Galxe
When it comes to cultivating Web3, we have to mention Galxe. Galxe is a permissionless self-sovereign identity infrastructure. Under the mechanism of zero-knowledge proofs, users will be able to securely and privately own, manage, and share verifiable credentials. Builders can use various tools provided by Galxe to build Sybil prevention algorithms, reputation systems, credit systems, personal data markets, decentralized censorship systems, and more.
Galxe is currently the most active and user-friendly Web3 task data platform, and the majority of project teams release activities and interactive tasks through Galxe, while also establishing their own communities. Every day, millions of investors and blockchain players visit Galxe and submit various activities and task data.
In my opinion, I tend to think of Glexa as a bridge connecting project teams and users, providing a stage for project teams to showcase their projects and a channel for investors to understand the projects. It can also create communities, cultivate community members, and help project launches and user acquisition.
Galxe provides basic services such as Galxe OAT and NFT as credentials for community participation in activities to identify real users in the community. Galxe ID represents the multi-chain identity of users on the chain, and the Galxe Credential API is the interface that connects project task data, including DApp interactions and other data, as well as off-chain data such as Twitter likes or Discord group interactions.
In addition, Galxe recently launched the Astronaut Ranking System, which mainly evaluates the level of user participation on the Galxe platform and the contribution of DC servers, including activity participation, loyalty points, Web3 scores, and Galxe OG NFTs. Based on these active weights, participants can obtain more early benefits from Web3 through three levels of gold, silver, and bronze.
Galxe uses a series of Web3 on-chain and off-chain data to strengthen the connection between project teams and community members, which also indicates that Galxe primarily serves project teams and communities in various Web3 tracks, which is also the key to the rise of Galxe.
Opportunities for Galxe in the bull market
After the bull market arrives, there will be four groups that play a significant role in driving the bull market process: users, investors, investment funds, and high-quality projects. The market atmosphere must be in place and cannot be lacking the joint efforts of these groups. Galxe has seized these three points and become a potential rising star in the bull market.
1. Cultivating Web3 users
The continuous rise in the market will undoubtedly attract more new investors to enter the market, and these users will also become fresh blood in the cryptocurrency market. As newcomers to blockchain, their demand for learning and experiencing Web3 projects is also very high. If entering the cryptocurrency market only involves buying and selling tokens on CEX, the role of promoting Web3 will be minimal. The charm of blockchain lies in its ability to provide different scenarios from the existing Internet, including the completely different user experience brought by various decentralized apps. These are the skills that new investors must master, so investor education becomes a necessity.
Through providing a platform for project teams to release interactive tasks, Galxe allows investors to familiarize themselves with Web3 projects through practical operations and obtain corresponding points, rewards, or NFTs. This is crucial for the cultivation of newcomers to the Web3 and blockchain industry and becomes a necessary path for entering Web3.
2. Support for project promotion
The blockchain industry attracts a large amount of capital, investors, and entrepreneurs, and it will also give birth to a large number of projects. These projects will emerge one after another in the bull market. Investors who have studied projects know that a project needs marketing in addition to technical strength to let more investors know its potential. In the bull market, there are many high-quality projects that need to make themselves known and attract users to join their communities.
Through task activities, users can discover high-quality projects on Galxe and learn about the projects through these activities, and participate in the projects, ultimately becoming a member of the project community. This promotes the further increase in the project's valuation and the value of the token. Galxe's platform influence naturally brings more traffic to project teams, which is also essential for project teams.
3. Control from funds to projects
For investment funds, in recent years, the downward trend of the global economy has made the investment market very sluggish. In the bull market, with the rise of the market, funds from traditional investment fields will also enter. Even during the bear market period in 2023, the annual return rate of cryptocurrencies was much higher than other markets. Therefore, there is no reason for funds to miss this opportunity in the bull market of 2024.
In addition to providing a gateway to Web3, a large amount of funds will also be deployed in Web3 projects. Therefore, there are many opportunities for early-stage projects in the bull market. Galxe provides a platform for these early-stage projects to cold start and showcase themselves to users and investors. With the help of Galxe, users and investment funds can quickly and accurately understand information about the project's community, popularity, and actual applications as a reference.
Galxe recommends teams with excellent backgrounds to conduct task activities on the platform. Top project teams such as Polygon, Optimism, Arbitrum, and Linea have chosen to release their own community task activities on Galxe. Especially in the early stages of project development, it is very important for investors, and it also facilitates investors to make early layouts to obtain substantial returns.
Analysis of GAL's positive factors
When the bull market arrives, many project teams have marketing and DApp user experience and usage needs, which are also the main points and positive factors for Galxe in the bull market.
The total supply of GAL tokens is 200 million, and the current circulating supply is about 100 million, with a market value of 330 million, ranking 213th on Coingecko. It raised a total of $25 million in multiple rounds of financing before listing, and also raised $15 million through public sale on Coinlist, with a total financing amount of $40 million. With more than half of the token's circulation, the unlocking pressure is relatively low, and the overall market value is not high, without much speculation. The fundamentals of the token are very good, with high expectations.
In terms of application scenarios, in addition to governance voting, GAL tokens are mainly used for project developers to pay for credential data, which means that project teams collect community data through the Galxe interface, such as user preferences, to adjust the project's development direction in a timely manner, making it easier for the project to gain attention.
Through Galxe activities, project teams can also quickly understand the early development of the project, including stress testing and user feedback on bugs, which helps project teams develop better products. Some activities can also deepen the impression and status of project teams in the minds of community users, which reduces the difficulty of later publicity.
Project teams can use GAL to obtain information about project technology and community through the Galxe platform, which better supports the growth of early-stage projects, and the value of GAL tokens will be further enhanced, bringing positive factors to the token price. For community users, participating in project interactions and community activities can also receive potential airdrops and point rewards, creating a win-win situation.
The gateway to Web3
Blockchain and Web3 are not just places for investment or speculation. Although the bull market can attract a large number of speculative investors, each bull market will also have many insightful people willing to stay and these are the seeds of the next bull market. Of course, the market can also bring the expected returns to these layouters.
Similarly, Galxe, as a bridge between project teams and user investors, also plays a crucial role in this. Decentralized communities are not just a few chat groups or simple voting or feature development, but a combination of these things. Galxe caters to this demand and can bring more motivation to the industry in this track.
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