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Coinbase is seeing a memecoin boom, with utility-focused token Galaxy Fox (GFOX) booming, following the success of BRETT.
The underlying blockchain has seen a spike in transactions, thanks in large part to the excitement of memecoin. Base is Coinbase's flagship blockchain which has seen its average daily transactions rise in the past week.
This increase in transaction volume is reminiscent of what the Solana blockchain has witnessed in recent months. Traders are constantly exploring the best cryptocurrencies to invest in, and meme currencies are competing for the top spots.
GFOX continues to show its superiority with the fruitful pre-sale raised More than $6 million In its symbolic sale. Its rise is proof that with fresh ideas and a bold mission, a new venture can attract investors.
The base tends to go crazy with the Memquin
According to one report, the average transaction volume on Base, the second layer developed by popular US-based cryptocurrency exchange Coinbase, has jumped to nearly 1.5 million per day – up from its average of half a million a few months ago. The total value locked (TVL) on the blockchain is now around $2.7 billion.
As is the case with most blockchains that see sudden high usage, on-chain activity spiked with BRETT, the highest meme coin by market cap on Base. It should be noted that the developers have made every effort to provide the necessary scalability for the significant spike in transactions and activity. Although prices have slowed, as seen with Bitcoin and Ethereum, the value of the BRETT memecoin is over $265 million, down just 6% in the last day.
The impact of memecoins on Base and other second layers is a testament to the power such projects have in the cryptocurrency scene. It represents growth from the early days when Dogecoin was a literal joke that no one took seriously. Since 2019, memcoins have gradually become viable assets for many traders, and one of the most dynamic sectors of the cryptocurrency market.
This upheaval is evidence that meme coins 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 meme coins. The fact that some memecoins could lead to independent blockchain adoption is another layer of growth for this sector.
GFOX is set to become a top 20 meme coin
Galaxy Fox is a next-generation memecoin that is quickly rising on traders' radars. The project recently ended its pre-sale, the project team launched a price of $0.004, and the project expects a significant rise in the coming weeks.
It was GFOX included on April 18, 2024, with traders able to trade the token via Uniswap. The game itself will be released on May 11, and preparations are in full swing for a soft landing.
Galaxy Fox has the full repertoire, with playable gaming tokens to earn, staking bonuses, NFT collection, gaming merchandise, and much more under one roof. Players have the opportunity to play an exciting game and get a profitable experience while playing.
The development team is working overtime to ensure the game launches successfully. With the combination of utility and unique token management, many analysts consider this project to have serious potential to rank among the top ten memecoins.
Conclusion
GFOX represents the next era of memecoin development. It's no longer enough for a memecoin to have a funny logo or bad reputation online. The combination of the game's P2E community impact and NFT collectibles ensures that Galaxy Fox has something for everyone. Regular players and investors began trading on April 18, exploiting the store's growth potential ahead of the game's launch on May 11.
To learn more about GFOX here, visit the Galaxy Fox preview, or Join the community.
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