Ethereum

Degen

Base

April

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 Ethereum layer-two network Base reached a daily peak of $1.22 billion in trading volumes on March 30 amid a meme coin frenzy on the network.
 Trading volumes have dropped in the new week to average $970 million on April 1, according to Dune, but the increased activity on the network is making it an attractive destination for meme coins.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 gm@base transactions have gone parabolic pic.twitter.com/XeLcj1syfO
 — Alex Svanevik 🐧 (@ASvanevik) April 1, 2024
 </blockquote>
 
 Base has already locked in $1.47 billion worth of meme coins as its top two meme coins posted strong gains over the past week, according to CoinGecko.
 Sam Baseman Fraud, a new meme coin created on Base shortly after the sentencing of Sam Bankman-Fried, pumped by 35,000% before crashing.
 <img decoding="async" class="aligncenter wp-image-499246 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201301%20226'%3E%3C/svg%3E" alt="BASE coingecko" width="1301" height="226" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 1301w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 300w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 1024w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 768w" data-lazy-sizes="(max-width: 1301px) 100vw, 1301px" data-lazy-src="https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp">
 <noscript><img decoding="async" class="aligncenter wp-image-499246 size-full" src="https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp" alt="BASE coingecko" width="1301" height="226" srcset="https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 1301w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 300w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 1024w, https://cdn.thebittimes.com/images/2024/04/02/dc9769864bfde04339442b1373a0cfb8.webp 768w" sizes="(max-width: 1301px) 100vw, 1301px">
 </noscript>
 <h2 id="new-layer-three-network-drives-more-activity-into-base">New Layer-Three Network Drives More Activity into Base</h2>
 Degen Chain, a layer-three blockchain created atop the Base network, launched last week and is driving transaction activity on Base.
 Within four days, the layer-three hit nearly $100 million in transaction volumes. Over 2,300 tokens, mostly meme coins, have already launched on the network.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Since its launch, it:
 – on boarded &gt;132k addresses – had over 4.15m completed txs – had 7.5k total contracts deployed (mostly rugs, only 290 verified) – had over 2300 tokens launched (mostly rugs)
 — Shual (@0xShual) March 31, 2024
 </blockquote>
 
 Despite the early success of Degen Chain, Polygon’s CEO, Marc Boiron, says&nbsp;layer-threes are diverting value from the Ethereum blockchain.
 <h3 id="also-read">Also Read:</h3>
 <ul>
 <li>Pepe Price Prediction: PEPE Plunges 14% As Experts Turn To This 2.0 Dogecoin For 100X Potential</li>
 <li>Top Trending Meme Coins to Watch Out for in the Upcoming Weeks of April 2024</li>
 <li>Cryptocurrency Flash Crash Slices 4% Off Crypto Market Cap As Bitcoin, Solana, Dogecoin Plunge</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-s-base-network-soars-amid-meme-coin-mania-tbt84229.html">https://thebittimes.com/coinbase-s-base-network-soars-amid-meme-coin-mania-tbt84229.html</a>
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Coinbase’s Base Network Soars Amid Meme Coin Mania

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