Ethereum Upgrade Propels Coinbase's BASE Network to New Heights

Ethereum Upgrade Drives Surge in Coinbase's BASE Network

With the recent Ethereum Dencun upgrade, Coinbase's Layer 2 solution, BASE, has experienced a surge in popularity, attracting developers and traders back to Ethereum. BASE has now surpassed $2.2 billion in Total Value Locked (TVL), marking a 43.61% increase in just one week.

BASE Emerges as Meme Token Haven

The Ethereum Dencun upgrade has significantly reduced gas fees on Ethereum Layer 2s, making it more cost-effective for developers to launch meme tokens. BASE has emerged as a major beneficiary of this fee reduction, becoming a haven for meme tokens like TOSHI and BRIUN.

Solana's Grip on Meme Tokens Wanes

Historically, Solana has been the preferred platform for launching meme tokens due to its lower fee structure. However, with the recent gas fee reduction on Ethereum, developers and traders are returning to Ethereum, the blockchain where the meme rush originated.

BASE Network on the Rise

Coinbase's investment in BASE's development is a strategic move to leverage it as a gateway to the crypto market for its over 110 million users. The integration with Coinbase's vast user base provides an ideal environment for user acquisition.

Soulbound NFT Airdrop on BASE

Coinbase CEO Brian Armstrong initiated a soulbound NFT airdrop on BASE, potentially setting the stage for a Base token airdrop. This move further underscores Coinbase's commitment to BASE's growth.

Meme Tokens Surge on BASE

While the rally of meme coins on Solana has slowed down, their counterparts on BASE have witnessed significant growth. Meme tokens like TOSHI and Briun Armstrong (BRIUN) have recorded substantial gains in the past few days.

Tracking Token Trading Volumes

Analyst Miles Deutscher recommends tracking token trading volumes and holder counts to identify promising opportunities in the meme token space. Toshi Base, for instance, stands out due to its strong community and status as a first mover in the meme token arena.