$LINK Shows Strong Outlook For 2024; Could This New Memecoin Break Into the Top 3?

2024 is shaping up to be the year that crypto finally goes mainstream. Macro conditions look good for risk assets, and analysts are even pointing to the potential for a generational bull market to occur, should the ETF approval go ahead as planned in conjunction with a halving.

The best barbell portfolio heading into 2024 could be an infra/ speculative split. Chainlink ($LINK) has excellent potential in 2024, while new memecoin/Gamefi hybrid, Galaxy Fox ($GFOX), could potentially rise into the top 3 meme projects, as it fulfills an important niche and has strong versatility.

Chainlink ($LINK) Could Reach New ATH In 2024 

Chainlink made a spectacular rally in Q4 last year, and this blockchain abstraction layer rests right at the center of the DeFi ecosystem. Its Oracle network is used to facilitate price feeds, and it delivers external data to smart contracts. The deployment of CCIP (Cross-Chain Interoperability Protocol) is the bullish catalyst heading into 2024 and experts forecast $LINK targeting its prior ATH later this year.

CCIP will allow blockchains to freely communicate with one another and offers an end-game solution to the interoperability crisis crypto has faced over the past years. Cross-chain messaging will enable developers to abstract away chains and give users a truly unified multi-chain experience.

All Chainlink services are payable in $LINK, and more demand equates to more buy pressure. Chainlink’s position as an infrastructure play is currently unparalleled. The potential for CCIP to unlock transactions between permissioned blockchains and public blockchains (banks and DeFi) is a massively undervalued value proposition, and $LINK is a top contender for those interested in pick and shovel plays.

Galaxy Fox ($GFOX) Potential Break Into Top 3

Galaxy Fox is leading a new standard for memecoins. The increasing appetite for speculation and solidification of memecoins as viable investment vehicles has helped propel $GFOX’s presale into the $2.5 million range, heading into 2024. Risk-on conditions usually means small caps rally, and $GFOX’s presale allows investors to participate ahead of time.

The protocol has come out of the gate fast, with over 2 billion tokens already minted, and stage 6 already 95% subscribed.

Galaxy Fox boasts a P2E component: a runner game where users can earn prizes exchangeable for $GFOX tokens. These rewards are paid out at the end of each season. An NFT marketplace, real-world merchandise, and a Treasury that works around the clock to expand the ecosystem.

Staking rewards are another vital component, and paired with Galaxy Fox’s ongoing burn investors have the ability to earn a yield on a deflationary asset.

Closing Thoughts: Infra/ Meme Barbell Split

Gaining broad exposure to different narratives has historically been one of the most reliable ways to manage a crypto portfolio, and focusing on two sectors (infra and memecoins) provides that versatile exposure. Galaxy Fox could be well-positioned as a hybrid of two sectors – namely, memecoins/GameFi – presenting an attractive option for fans of either, or both.  

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