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Post: Coinbase’s Base Network: Surging TVL Growth & Memecoin Potential

Coinbase’s Base Network: Surging TVL Growth & Memecoin Potential

Key Points:

  • Coinbase’s Base network went from $1 billion to $2 billion in Total Value Locked (TVL) in 25 days.
  • Ethereum layer-2 network Base’s TVL now stands at $2.13 billion, with the potential to attract memecoins.
  • USD Coin (USDC) is the largest token by natively minted value, and Ether (ETH) is the biggest token by canonically bridged value on the network.

Significant Growth of Base Network TVL:

The Base network, an Ethereum layer-2 network, experienced rapid growth in Total Value Locked (TVL) from $1 billion to $2 billion in just 25 days, showcasing a significant surge in user activity and asset utilization.

Potential as Memecoin Epicenter:

Commentators speculate that the Base network could emerge as a significant hub for memecoins, indicating its appeal to projects in that specific segment of the cryptocurrency market.

Token Dominance on Base Network:

USD Coin (USDC) holds the title for the largest token by natively minted value on the Base network, while Ether (ETH) leads as the biggest token by canonically bridged value, showcasing the diverse token usage within the ecosystem.

Hot Take

The remarkable acceleration in TVL within the Base network signifies growing investor confidence and utilization, potentially solidifying its position in the DeFi landscape. The focus on memecoins could attract a new wave of users seeking different opportunities within the crypto space.

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