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Coinbase sees a rise in memecoins, 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 thanks to the memecoin hype. 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 cryptocurrencies to invest in and memecoins are fighting for the top spots.
GFOX continues to show its advantage with a fruitful pre-sale that raised more than $6 million in its symbolic sale. His rise is proof that with fresh ideas and a bold mission, a new project can attract investors.
Base leans into memecoin frenzy
According to a report, average transaction volumes on Base, a layer 2 developed by popular US-based crypto exchange Coinbase, have increased to about 1.5 million per day, up from its average of half a million ago. a few months. The total value locked (TVL) on this blockchain now stands at around $2.7 billion.
As with most blockchains experiencing sudden high usage, activity on the chain has skyrocketed with BRETT, the top memecoin by market cap on Base. It is noteworthy that developers have a lot of work ahead of them to provide the scalability necessary 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, falling 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. It represents growth from the early days when Dogecoin was a literal joke that no one took seriously. Since 2019, memecoins have gradually become viable assets for many traders and one of the most dynamic 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 probably include at least one or two memecoins. The fact that some memecoins can drive independent blockchain adoption is another layer of growth for the sector.
GFOX will become one of the top 20 memecoins
Galaxy Fox is a next-generation utility memecoin that is rapidly rising on traders' radars. The project recently concluded its pre-sale and the project team launched it for $0.004 and the project is expected to gain huge upside in the coming weeks.
GFOX was eth/pools/0xa2f20816600b5b2e8834aef58a54dd7cdb88ff4b” rel=”nofollow” target=”_blank”>list on April 18, 2024, and traders will be able to trade the token through Uniswap. The game itself launches on May 11 and preparations are in full swing for a smooth landing.
Galaxy Fox has the full repertoire, with an earnable gaming token, staking rewards, nft collection, gaming products, and much more under one roof. Players have the opportunity to play an exciting game and have a potentially lucrative experience while playing it.
The development team is working overtime to ensure a successful launch of the game. By combining utility and unique token management, many analysts consider this project to have great potential to rank among the top ten memecoins.
Conclusion
GFOX is representative of the next era of memecoin development. It is no longer enough for a memecoin to have a funny 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, exploiting the growth potential available ahead of the game's launch on May 11.
To learn more about GFOX here, visit the Galaxy Fox pre-sale or Join the community.
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