Ethereum layer-2 network Base has doubled its total value locked to $2.13 billion in under a month thanks to the ongoing meme coin frenzy.

The milestone was reached swiftly, with Base surpassing the $1 billion total value locked (TVL) mark on Feb. 27, 226 days after its launch in August, and crossing the $2 billion threshold just 25 days later.

Data from DefiLlama indicate that the rapid accumulation of TVL is a testament to the network’s growing popularity and adoption within the crypto community.

The surge in Base’s TVL is believed to be significantly influenced by the rise of meme coins on its platform, mirroring a recent trend that has benefited the Solana (SOL) network. Meme coins, digital assets that often start as internet jokes but can amass substantial market capitalization, are speculated to be a driving force behind the adoption and growth of the Base network.

Some community members observe a potential shift in interest from Solana to Base, particularly in the context of meme coin trading activities.

Solana’s meme coin frenzy was highlighted by coins such as Dogwifhat (WIF), which reached an all-time high market cap of $2.84 billion. Similarly, Book of Meme (BOME) and Slerf (SLERF) achieved significant market caps shortly after their launch on Solana.

On the Base network, meme coins like Degen ( Go to Source to See Full Article
Author: Bralon Hill

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details