Memecoins
BASE joins meme frenzy as BRETT takes off; GFOX tops the lists
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Coinbase sees 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 thanks to the enthusiasm for memecoins. Base is Coinbase’s flagship blockchain which has seen a spike in average daily transactions 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 competing for the top spots.
GFOX continues to show its advantage with a fruitful pre-sale it has raised over 6 million dollars in its symbolic sale. Its rise is proof that with fresh ideas and a bold mission, a new project can attract investors.
Base leans into the memecoin frenzy
Average transaction volume on Base, a tier 2 developed by popular US cryptocurrency exchange Coinbase, has risen to around 1.5 million per day, up from an average of half a million a few months ago, according to a report. 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. Note that developers have their work cut out for them to provide the scalability needed for peak transactions and activity. Although prices have cooled, as seen with Bitcoin and Ethereum, memecoin BRETT has a market cap of over $265 million, losing just 6% over the past day.
The impact of memecoins on Base and other layer-2s is a testament to the power such projects wield in the crypto landscape. It represents the growth since the early days when Dogecoin was literally a joke that no one took seriously. Since 2019, memecoins have gradually become viable assets for many traders and one of the most dynamic sectors in the cryptocurrency market.
This upheaval 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. The fact that some memecoins can drive independent blockchain adoption is another level of growth for the industry.
GFOX is set to become one of the top 20 memecoins
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 and the project is expecting a huge upside in the coming weeks.
GFOX was listed on April 18, 2024, with traders able to trade on the token via Uniswap. The game itself will launch on May 11th and preparations are in full swing for a smooth landing.
Galaxy Fox has the full repertoire, with play-to-earn game tokens, staking rewards, NFT collection, in-game merchandise and much more under one roof. Players have the chance to play an exciting game and have a potentially profitable experience.
The development team is working overtime to ensure a successful launch of the game. Combining utility and unique token management, many analysts believe this project has 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 funny logo or online notoriety. The combination of 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, capitalizing on the potential for in-store growth ahead of the game’s May 11 launch.
Read more about GFOX here, visit the Galaxy Fox presaleOR join the community.
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