Reaching $2 Billion In TVL, Coinbase Base Will Be The Next Memecoin Hub?


"Get ready everyone, how do you know there are memecoins from Base that can go up a lot like Solana's."

Immediately after Dencun's Ethereum (ETH) upgrade went live on March 13, 2024, Base chain layer-2 Coinbase saw a spike in on-chain metrics as its new update reduced fees by 10x on chain layer-2.

The streak, many investors are crazy about memecoin from Solana (SOL) to Base due to its low fees that managed to attract developers and traders to return to the increasingly popular blockchain.

Not only that, Coinbase's total value locked (TVL) last month also reached a high of $884.4 million on March 25, 2024 from $405 million in February and it should be known that it has now crossed over $2 billion in TVL.

Average daily users, dapps and DEX volume on its platform also experienced significant growth where it comes from Base's easy onboarding experience through its smart wallet feature that allows users to create wallets without dealing with a long lead phase.

Like to be informed that smart wallets allow options for wallet recovery which may attract over 100 million Coinbase users to its meme ecosystem.

Although the rise of memecoin on SOL is slowing down, Base seems to be gaining attention as meme tokens like TOSHI and Briun Armstrong (BRIUN) have posted big gains in the past three days.

Speculation that more memecoins will flood its ecosystem has sparked hopes of a quick listing on the largest US crypto exchange, plus Coinbase CEO Brian Armstrong launched an NFT airdrop on Base.

Even so, investors need to be careful as most memecoins usually rug pull within a few weeks but memecoins that survive can generate life-changing money for early investors.