Coinbase’s BASE crosses $2 billion in TVL, eyes at becoming next meme coin hub

Coinbase’s Layer 2 chain Base saw a surge in its on-chain metrics after the Ethereum Dencun upgrade went live on March 13.

Coinbase’s Base is set to overtake Blast to become the third-largest Ethereum L2. Among many other metrics, DEX volume on Base has more than doubled in the last month. Smart wallet could onboard over 100 million Coinbase users to the meme ecosystem on Base. The new update slashed fees on Layer 2 chains by 10x. The benefits of the Dencun upgrade along with its smart wallet functionalities seems to have attracted the meme coin madness from Solana to Base.

-hour chart DEGEN/WETH 1-hour chart Considering Coinbase's alignment to the Base ecosystem, speculation is that more meme tokens will flood its ecosystem in hopes of a quick listing on the US's largest crypto exchange. In other news, Coinbase CEO Brian Armstrong launched a soulbound NFT airdrop on Base that many in the crypto community have said may play a role in a potential Base token airdrop.

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