Jesse Pollak, one of the masterminds behind Coinbase’s Ethereum scaling solution Base, shared his perspective at a recent hackathon in New York. He emphasized that meme coins are expected to attract a large number of new users to the Ethereum-based protocol due to their influence. Pollak acknowledged that this trendy asset class has been instrumental in bringing significant success to Base in terms of user onboarding.
“On Base, there’s been an impressive amount of excitement. Notably, many people are being introduced en masse to this new economy through the circulation of numerous memes.”
Bringing the World On-chain
According to Pollak, memes hold significance in the realm of cryptocurrencies, while the layer-2 protocol strives to make the entire world a part of this on-chain experience.
Additionally, meme makers on this platform not only use it as a means for speculation but also strive to discover creative methods to draw in fresh members to their groups.
Through unrelenting dedication to attracting and inspiring new members, the founder of Base anticipates that this asset class will play a significant role in drawing in millions of fresh users to Base over the next few years.
According to Pollak, we are increasingly confident that memes will play a significant role in attracting large numbers of new members to our community in the coming years. Memes will serve as one of the primary forces behind this growth due to their consistent efforts in creatively onboarding more and more people.
Top Meme Projects on Base
Pollak revealed that over 300 meme projects and developers are actively working on expanding the cultural landscape and vibrancy of Base’s economy and financial markets.
Based on information from CoinGecko, Brett is now the top memecoin on the Base platform with a market value of $567 million. There has been a significant increase of 7,780% in Brett’s price since the start of March.
Among the notable meme projects operating on the layer-2 blockchain besides BRETT, there’s DEGEN with a market value of around $435 million and TOSHI boasting a market cap of approximately $185 million.
Milestone Achievements
Within just a few months after its debut, Base has reached several significant accomplishments and is now counted as one of the leading scaling options for Ethereum.
Within the past month, the protocol processed an astounding $356 million worth of transactions in a single day. The Ethereum Denver update, implemented around mid-March, triggered a significant increase in network activity by cutting down transaction fees for layer-2 networks.
Based on DefiLlama’s data from the Web3 sector, Base experienced a significant surge in its total value locked (TVL), peaking at a record-breaking $1.65 billion on April 21, 2024. This represents a noteworthy gain of approximately 250% since early March 2024.
Recently, our network reached a significant achievement as it handled between 300 and 450 transactions every second for the initial time since its beginning.
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2024-04-22 13:45