With the meme coin craze finding its place in the Layer 2 Base network, the cryptocurrency world is witnessing the craze once again. In the last 48 hours, many coins have experienced unprecedented fluctuations. Some tokens have witnessed gains of several hundred to several thousand times. Here are some coins that are making a splash on the Coinbase-backed Base network…
These 15 coins have made a splash on the Coinbase-backed network
Layer 2 network Base, developed by Coinbase, has seen a notable increase in activity over the past 24 hours. According to data from DEX Screener, the network recorded more than 276,000 transactions just yesterday (July 30). The emergence of the meme coin trend on the base network has been the driving force behind the massive influx of users to this new platform. Notably, the meme coin BALD has increased more than 20,000 times in the past 24 hours. Other coins, such as BASED, experienced a 5,580-fold increase. In addition, OPTISM saw a staggering 435-fold increase in value. You can see the tokens and the amount of rise on BASE in the table below:
As can be seen in the table, there are many new cryptocurrencies such as TOSHI, LEET, Ben, BEAN, RCKT. DOGE-like names like BOGE also draw attention. As we have also reported as Kriptokoin.com, the layer 2 network Base developed by Coinbase is quite new. The exchange recently launched the Base mainnet for developers on July 13. However, the official bridge was not introduced by the project team. Therefore, the network is not yet fully ready for mass adoption. “Cryptodegen” enthusiasts had to transfer ETH to the Base network by sending ETH to smart contracts. According to data from Dun Analytics, more than 25,000 ETH (equivalent to 40 million USD) have been transferred to this network. 9,800 ETH of this is in the BALD/WETH pool on LeetSwap, a decentralized exchange on Base.
The network does not yet have a token
Prior to its last surge, Base had successfully completed the testnet phase with over one million active wallet addresses operating on the network. The project team stated that they currently have no plans to distribute tokens for this layer 2 network. The continued development of the Coinbase-backed network is critical. Also, the potential to ease congestion on the Ethereum mainnet is undoubtedly exciting for the blockchain industry. However, it is crucial for users and investors to be vigilant considering the risks inherent in the cryptocurrency world. Because those that rise fast, such as these meme coins in the Base network, may experience a sharp decline. As the base network progresses and proves itself further, we can expect more updates and developments from its team that can bring exciting changes to the crypto world.
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