Benefiting from the meme coin frenzy, the on-chain data of L2 Base ecosystem under CoinBase has made significant progress in 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 exceeded $1 billion, growing more than twice in the past month.
Summary:
Founder of mfers issued meme coin $mfer, skyrocketing 20,000 times in a single day, with a market value of $230 million.
Background:
$DEGEN and AERO broke historical records, will Base follow the meme coin frenzy?
Table of Contents:
$mfer traders’ profits nearly a thousand times
Meme coin ecosystem surged more than 8 times in the past 7 days
TVL doubled, daily active users tripled in a month
The meme frenzy of Ethereum L2 Base is still burning, and today, due to the strong wealth effect of the newly issued meme coin $mfer, its trading volume has exceeded $87.8 million in less than a day, once again leading Base Chain to achieve historical highs in trading volume and number of transactions.
According to Lookonchain’s monitoring of on-chain data, an address purchased 16.07 million $mfer with 0.4 ETH (about $1,400), and then sold 14.5 million of them for 286 ETH (about $1 million), currently holding 1.58 million MFER, valued at about $396,000.
This means that the address achieved approximately $1.4 million in profits in less than 10 hours, achieving a 995-fold return on investment.
In addition, CoinGecko data shows that the Base ecosystem meme coin has surged over 832.1% in the past 7 days, ranking first among all categories, far exceeding the second place with a nearly eight-fold increase. There are even KOLs proposing the establishment of a Base Dog group today, indicating the market’s enthusiasm and potential.
(Dynamic Zone reminder: Investors need to pay attention to the volatility of meme coins. High returns often accompany high risks. Investors should fully consider market volatility and invest cautiously when participating in such projects.)
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 data, the latest number of Base transactions has exceeded 2.3 million, reaching a historical high. The number of daily active users reached 383,000, which is more than three times the previous month’s growth.
Source: Token Terminal
According to DeFiLlama data, the Base ecosystem’s DEX trading volume has reached $657 million, setting a historical record. The TVL has exceeded $1 billion, growing more than twice in the past month.
The “Stablecoin Market Cap” data, which measures ecosystem liquidity, is also very impressive. In the past 7 days, the Base network’s stablecoin market cap has grown by 55.64% to over $1.1 billion, with a net inflow of $233 million stablecoins on the 27th, also setting a new record for daily net inflow.
There seems to be a trend of “meme first and build” recently. For example, the leading meme coin in the Base ecosystem, $Degen, launched L3 on the 28th. It is worth paying continuous attention to whether CoinBase’s L2 Base can make more developments besides memes.
Related Reports:
Meme Coin History: Origins, Value Judgment, and Future Opportunities
After analyzing 200 smart money addresses, which meme coins are being deployed on Base?
Base Meme Coin Frenzy: Trading volume increased tenfold, exceeding $220 million, and gas fees are even higher before Dencun’s upgrade.