Layers-2s were hailed as the revolutionary breakthrough to upgrade Ethereum ($ETH) scalability and propel crypto’s dominant smart contract platform into the new era. But are layers 2s killing the $ETH rally? More and more questions about capital fragmentation and liquidity siloing are dampening the $ETH rally.
Maybe it is time to forget governance tokens, and is this new memecoin a better bet? Galaxy Fox ($GFOX) has been smashing ICO funding records, and while still in its presale, this token is the perfect answer to what crypto to buy right now as the market prepares for its next leg up.
Is the Layer-2 Ecosystem Killing the $ETH Rally? Fragmentation & Siloed Liquidity
Ethereum has put sharding on the back burner while pursuing its rollup centric scaling vision. Layer-2s batch transactions off-chain and focus on execution. They reduce the burden on the main chain and return summary data. But are these Layer-2s killing the $ETH rally? Outside of the lack of interoperability between these scaling solutions and the requirement of bridges for moving funds from one Layer-2 to another, are these execution-specialized chains reducing Ethereum’s network effect?
Instead of trading on a global computer, anybody trading on Arbitrum ($ARB) or Optimism ($OP) has their capital siloed on this chain and cannot move it around easily. Still ignoring these operational issues, the abundance of layer 2 governance tokens is diluting the $ETH rally. $OP has a $4 billion market cap, $MNT has a $3.3 billion market cap, and $ARB has a $3 billion market cap. That is plenty of capital that has been diverted away from $ETH.
However, Layer-2s create economic activity, creating greater buy pressure for $ETH. While Layer-2 governance tokens look shaky, $ETH remains a top crypto to buy this cycle, especially given the looming Spot ETF approval in May.
Galaxy Fox ($GFOX) Soaring Towards $5 Million
Galaxy Fox is zooming towards $5 million in its presale and labeled as 2024’s hottest ICO is the perfect answer to what crypto to buy right now. This meme/ P2E hybrid is rapidly approaching its retail launch, and judging by its early success in building momentum and raising funds. Early buyers should expect a massive price discovery phase.
Memecoins are increasingly becoming the ultimate beta plays within an ecosystem. Bullish on Avalanche ($AVAX)? Buy Coq Inu ($COQ). Bullish on Solana ($SOL)? Buy Bonk ($BONK). This emerging trend has turned memecoins into leveraged plays on the native asset. Layer 2 governance tokens offer little in the way of value accrual, and anybody bullish on Ethereum is better served by purchasing $GFOX.
Galaxy Fox’s unique design has unlocked dual narrative support, which explains its bumper presale success. The Web3 runner game attracted the GameFi community, and all players can turn their gaming skills into cash with prizes paid out each season. $GFOX’s high-octane tokenomics model attracted memecoin investors. The powerful combination of a deflationary supply and staking rewards gives $GFOX that 100X upside potential. And the NFT collection encouraged digital collectors to participate in the presale.
Anybody still uncertain about memecoins needs to wake up and smell the coffee. All of the top 5 cryptos to buy now are meme projects, and Galaxy Fox is right out in front.
Closing Thoughts: Forget Governance Tokens and Buy Memecoins
Crypto has entered the mid-market bull stage, and investors want to be cutting losers and buying winners here. Forget about governance tokens and start loading up on memecoins.
Still wondering what crypto to buy right now? Participate in the Galaxy Fox presale before its retail launch and add the top-performing $ETH beta play to your portfolio today.
Learn more about $GFOX here:
Visit Galaxy Fox Presale | Join the Community
Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.
Read the full article here
