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News

Base DEX Trading Users Hit New Highs With Meme Coins Growth

June 18, 2024 - Around 2 mins mins to read

Key Points:

  • Coinbase’s Base network hit a record 267,000 DEX trading users, surpassing BNB Chain and trailing only Solana.
  • Uniswap leads Base DEX trading users, driven by a vibrant meme coin market.
  • Base’s total asset value locked (TVL) surged from $520 million to $2 billion in 2024.
According to Dune Analytics, Coinbase’s Ethereum layer-2 network, Base, has recently experienced significant growth, shattering its previous record for decentralized exchange (DEX) trading users.
Base DEX Trading Users Hit New Highs With Meme Coins Growth

Read more: The Importance Of Meme Coins In The Blockchain Ecosystems

Base DEX Trading Users Achieves Record Growth

As of June 17, the number of Base DEX trading users surged to 267,000, surpassing BNB Chain and ranking second only to Solana. The increase is largely attributed to the more active meme market on the Base chain.

The majority of Base DEX trading users operate on Uniswap, which accounts for 65.1% of trading users. PancakeSwap followed with 8.2%, and Aerodrome Finance captured 7.3% of the market. The Base DEX trading users’ surge in activity has led to speculation within the crypto community that it could become the next hub for meme coins, assets known for their speculative and volatile nature yet highly popular during bull markets.

Base Network’s TVL Soars to $2 Billion in 2024

During the 2021 bull market, Dogecoin (DOGE) and Shiba Inu (SHIB) were prominent, but new meme coins are now gaining attention. Solana-based meme coins like WIF have recently become popular, but meme coins on Coinbase’s Base network, such as Brett and Degen, are also attracting significant interest.

The increase in Base DEX trading users has positively impacted the total asset value locked (TVL) in the network, which has risen from approximately $520 million to $2 billion in 2024, according to DefiLlama. With its rapid user growth and increasing TVL, Base is a potential piece of land. potential for meme coin projects to aim for in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Base DEX Trading Users

Base Network

Brett

Coinbase

Degen

Layer 2

meme coin

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Base DEX Trading Users Hit New Highs With Meme Coins Growth

Key Points:

  • Coinbase’s Base network hit a record 267,000 DEX trading users, surpassing BNB Chain and trailing only Solana.
  • Uniswap leads Base DEX trading users, driven by a vibrant meme coin market.
  • Base’s total asset value locked (TVL) surged from $520 million to $2 billion in 2024.
According to Dune Analytics, Coinbase’s Ethereum layer-2 network, Base, has recently experienced significant growth, shattering its previous record for decentralized exchange (DEX) trading users.
Base DEX Trading Users Hit New Highs With Meme Coins Growth

Read more: The Importance Of Meme Coins In The Blockchain Ecosystems

Base DEX Trading Users Achieves Record Growth

As of June 17, the number of Base DEX trading users surged to 267,000, surpassing BNB Chain and ranking second only to Solana. The increase is largely attributed to the more active meme market on the Base chain.

The majority of Base DEX trading users operate on Uniswap, which accounts for 65.1% of trading users. PancakeSwap followed with 8.2%, and Aerodrome Finance captured 7.3% of the market. The Base DEX trading users’ surge in activity has led to speculation within the crypto community that it could become the next hub for meme coins, assets known for their speculative and volatile nature yet highly popular during bull markets.

Base Network’s TVL Soars to $2 Billion in 2024

During the 2021 bull market, Dogecoin (DOGE) and Shiba Inu (SHIB) were prominent, but new meme coins are now gaining attention. Solana-based meme coins like WIF have recently become popular, but meme coins on Coinbase’s Base network, such as Brett and Degen, are also attracting significant interest.

The increase in Base DEX trading users has positively impacted the total asset value locked (TVL) in the network, which has risen from approximately $520 million to $2 billion in 2024, according to DefiLlama. With its rapid user growth and increasing TVL, Base is a potential piece of land. potential for meme coin projects to aim for in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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