“If you build it, they will come,” a mysterious voice whispered to Kevin Costner in Field of Dreams—yet the phrase seems to ring equally true for degens in search of lucrative gains on Coinbase’s Ethereum layer-2 network Base.

The network, which Coinbase launched for developers on July 13, has seen an influx of recent activity related to meme coins. Traders are snapping up obscure tokens like BALD, COIN, and BASED on the network using the decentralized exchange LeetSwap.

LeetSwap has recorded nearly $200 million in trading volume over the past day across 377,000 transactions, according to DEX Screener. Aside from RocketSwap, LeetSwap is the only other decentralized exchange on Base where tokens can trade without reliance on financial intermediaries.

More than half of LeetSwap’s daily trading volume was comprised of BALD transactions. The token, possibly a reference to Coinbase CEO Brian Armstrong’s shaved head, has surged close to 3,100% over the past day to $0.06718.

BASED had bounced more than 1,000,000% over the same period, and it currently trades hands at $0.02916. The token, despite being around for less than a day, has already notched a market capitalization of $291 million.

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Author: André Beganski

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