Benefiting from the meme coin frenzy, the on-chain data of L2 Base, a subsidiary of CoinBase, has made significant progress over the past month. Both the number of transactions and the trading volume have reached new highs, reaching 2.3 million transactions and $657 million, respectively. The Total Value Locked (TVL) has surpassed $1 billion, growing more than twice in the past month.
The meme craze on Ethereum L2 Base is still spreading, and today, the newly launched meme coin $mfer has created a strong wealth effect. In less than a day, its trading volume has exceeded $87.8 million, once again leading Base Chain to achieve historical highs in trading volume and number of transactions.
According to Lookonchain, an address purchased 16.07 million $mfer with 0.4 ETH (about $1,400) and sold 14.5 million of them for 286 ETH (about $1 million). The address currently holds 1.58 million MFER, with an estimated value of about $396,000. This means that the address achieved approximately $1.4 million in profits in less than 10 hours, with a return on investment of 995 times.
In addition, according to CoinGecko, the meme coins in the Base ecosystem have surged more than 832.1% in the past 7 days, ranking first in all categories and surpassing the second-place surge by nearly eight times. It even suggested opening a Base Dog Group, indicating its market heat and potential.
Benefiting from the meme coin frenzy, the on-chain data of the Base ecosystem has made significant progress in the past month. According to Token Terminal, the latest number of transactions on Base has exceeded 2.3 million, reaching a new high. The number of daily active users reached 383,000, the second-highest level in history, growing more than three times in the past month.
According to DeFiLlama, the trading volume of Base ecosystem DEX has reached $657 million, setting a new record. The TVL has surpassed $1 billion, growing more than twice in the past month. The “Stablecoin Market Cap,” which measures ecosystem liquidity, is also very impressive. In the past 7 days, the stablecoin market cap of the Base network has grown by 55.64% to over $1.1 billion, with a net inflow of $233 million on the 27th, also setting a new record for daily net inflows.
Recently, there seems to be a trend of “meme first and build” with examples like the meme leader $Degen launching L3 on the 28th. It is worth paying continuous attention to whether CoinBase’s L2 Base can make more developments beyond memes in the future.