Base, the blockchain created by Coinbase, is quickly gaining market share in the decentralized finance (DeFi) and meme coins industries.
Data by DeFi Llama shows that the network has over 386k addresses and a total value locked (TVL) of over $1 billon. That makes it the ninth biggest blockchain in the world. It is much bigger than popular zombie networks like Cardano, Algorand, and Zilliqa.
The biggest players in Base Blockchain’s network are the likes of Aerodrome, Uniswap, Extra Finance, and Compound V3. These networks have over $543 million, $165 million, $75 million, and $60 million in assets, respectively.
Data compiled by CoinMarketCap shows that Uniswap V3 handled over $535 million in transactions in the past 24 hours. Uniswap V2 on Base processed $314 million worth of tokens. Aerodrome Finance processed tokens worth over $40 million.
One reason why these exchanges are gaining market share is that Base meme coins are thriving as their total market cap jumped to over $1.6 billion. Degen, the biggest meme coin on Base, jumped by over 217% in the past seven days.
Similarly, Brett, another big meme coin in the platform, soared by 85%, giving it a market cap of over 85%. Toshi price has risen by over 17% in the past 24 hours, erasing some of the losses it made last week. Other upcoming Base meme coins are Buttman, Based Shiba Inu, and Base God.
Meme coins have become an important part of the blockchain industry. Data shows that the total market cap of all meme coins has jumped to over $71.2 billion. This makes them bigger than well-known companies like General Motors, Ford, Deutsche Bank, and PNC Bank.
Meme coins have also helped boost the performance of other blockchains. For example, Solana’s market cap has jumped to over $90 billion because of the popularity of tokens like Book of Meme, Bonk, and Cat in a Dogs World.
