Memecoins
BASE joins meme frenzy as BRETT takes off; GFOX placed at the top of the lists
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Coinbase is experiencing a memecoin boom, with utility-focused Galaxy Fox (GFOX) among those thriving, following the success of BRETT.
The Base blockchain has seen a significant increase in transactions, largely driven by enthusiasm for memecoins. Base is Coinbase’s flagship blockchain which has seen its average daily transactions increase over the past week.
This increase in transaction volumes is reminiscent of what the Solana blockchain has experienced in recent months. Traders are constantly exploring the best crypto to invest in, and memecoins are jostling for the top spots.
GFOX continues to show its advantage with a successful pre-sale which allowed more than 6 million dollars in its symbolic sale. Its growth is proof that with new ideas and a bold mission, a new project can attract investors.
The base looks at the memecoin frenzy
According to a report, average transaction volumes on Base, a layer 2 developed by popular US crypto exchange Coinbase, have jumped to around 1.5 million per day – up from an average of half a million a few months ago. The total value locked (TVL) on this blockchain now stands at approximately $2.7 billion.
As with most blockchains that experience sudden high usage, on-chain activity has increased with BRETT, the top memecoin by market cap on Base. It’s worth noting that developers have their work cut out for them to provide the scalability needed for increased transactions and activity. Although prices have cooled, as seen with Bitcoin and Ethereum, BRETT memecoin has a market cap of over $265 million, down just 6% in the last day.
The impact of memecoins on Base and other Layer 2s is a testament to the power these projects wield in the crypto landscape. This represents growth since the early days when Dogecoin was a complete joke that no one took seriously. Since 2019, memecoins have gradually become viable assets for many traders, and one of the fastest growing sectors of the cryptocurrency market.
Such disruption is proof that memecoins are more than just a cultural phenomenon. Anyone making a list of the best new cryptocurrencies to buy will likely include at least one or two memecoins. Another level of growth for the sector is that some memecoins can drive independent blockchain adoption.
GFOX is poised to become a top 20 memecoin
Galactic Fox is a next-generation utility memecoin that is quickly rising on traders’ radars. The project recently concluded its presale and the project team launched for $0.004, with the project expecting a huge rise in the coming weeks.
GFOX was listed on April 18, 2024, with traders able to trade on the token via Uniswap. The game itself launches on May 11 and preparations are well underway for a soft landing.
Galaxy Fox has the full repertoire, with a play-to-earn token, staking rewards, NFT collection, gaming merchandise, and much more all under one roof. Players get the chance to play an exciting game and experience a potentially lucrative experience.
The development team is working overtime to ensure a successful launch of the game. By combining utility and unique token management, this project is considered by many analysts to have serious potential to rank among the top ten memecoins.
Conclusion
GFOX is representative of the next era of memecoin development. It’s no longer enough for a memecoin to have a fun logo or online notoriety. Combining the community effect of a P2E game and NFT collectibles ensures that Galaxy Fox has something for everyone. Regular players and investors began trading on April 18, tapping into the growth potential in store ahead of the game’s May 11 launch.
To learn more about GFOX here, visit the Galaxy Fox presaleOr join the community.
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