- With Coinbase’s extensive infrastructure, strategic partnerships, and substantial financial backing, Base has managed to scale efficiently while attracting a significant user base.
- This underscores the importance of established players in driving the adoption and growth of emerging blockchain projects.
Coinbase’s Layer 2 solution, Base, has achieved a remarkable milestone, surpassing $2 billion in Total Value Locked (TVL), representing a significant surge of 43.61% within a week. This achievement underlines the growing traction and interest in Base, particularly in the realms of meme coins and airdrops.
Base Network’s Ascendancy
Engineered on the Optimism tech stack, Base plays a pivotal role in scaling Ethereum by enhancing transaction speed and reducing costs, all while upholding the robust security standards of the Ethereum mainnet.
The success of Base owes much to its parent company, Coinbase, a cryptocurrency exchange giant with a valuation exceeding $60 billion. Coinbase’s strategic positioning, serving as the custodian for 90% of US spot Bitcoin exchange-traded funds (ETFs), and its alliances with industry giants like Blackrock and Circle, significantly contribute to Base’s momentum.
Jesse Pollak, the architect behind Base, revealed that a significant portion of Coinbase’s revenue is directed towards Base’s development. This strategic investment underscores Coinbase’s vision of utilizing Base as a gateway for over 110 million users into the crypto market, leveraging its expansive user base for user acquisition.
Rise in Adoption and Ethereum Dencun Upgrade
This strategic alignment with Coinbase has resulted in an unprecedented surge in Base’s adoption. In March alone, daily new users surged to 800,000, revenue escalated from $18 million to $28 million, and daily transactions soared from 500,000 to 2 million.
Part of this surge is attributed to the Ethereum Dencun upgrade, specifically the implementation of EIP-4844, which significantly slashed network fees, positioning Base as a formidable competitor for high-frequency trading.
Exploring Base Meme Coins and Airdrops
The burgeoning momentum surrounding Base signifies a growing interest in meme coins and airdrops within its ecosystem. With the ecosystem still in its nascent stages, the potential for discovery and investment in meme coins is vast.
Analyst Miles Deutscher advocates for a methodical approach, emphasizing the tracking of token trading volumes and holder counts to unveil promising opportunities within this space. Notably, Toshi Base emerges as a leading meme coin due to its robust community and first-mover advantage.
Moreover, the anticipation of new protocols launching on Base and the potential for ecosystem airdrops present lucrative prospects for users and investors. Influencer Gargoyle highlights that protocols exhibiting profitability on Base may have a good chance of launching an airdrop.
These protocols include bridges like Across and Stargate, decentralized exchanges like ODOS and Aerodrome, and lending protocols like Moonwell and Seamless.
While Base currently has no immediate plans for a native token, the history suggests that anything is possible. With ample opportunities in meme coins and airdrops, Base appears poised for further expansion and innovation.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
