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    Memecoins on Coinbase’s Layer-2 Network Base Rise Several Thousand Times

    Cryptory.net - The memecoin trend has spread to the Coinbase’s Layer-2 network Base, in which many memecoins have surged from a few hundred to several thousand times over the past few days.

    Base is a layer-two chain developed by Coinbase. It is built on Optimism, a layer-two scaling solution for Ethereum – and the second largest L2 ecosystem, behind Arbitrum. Optimism aims to solve the blockchain trilemma by providing interoperability and composability for participating rollups, one of which will be Base.

    In the past few days, many memecoins on Base have gained strong growth, the most prominent of which is BALD, which has increased more than 20,000 times. BASED also surged 5,580 times, while OPTISM increased 435 times.

    As a result, the trading volume on Base has recently grown significantly. According to data from Dun Analytics, more than 25,000 ETH (equivalent to $40 million) has been transferred to this network. Among them, 9,800 ETH is in the BALD/WETH pool on the LeetSwap decentralized exchange, which runs on Base. Besides, according to data from DEX Screener, only on July 30, this network executed over 276,000 transactions.

    Base is a Layer 2 network developed by Coinbase and recently launched its mainnet for developers on July 13. However, the network is still not ready for many users because there is no official bridge yet. So, users who want to trade these memecoins must be careful because memecoins always have a lot of risks and in addition, the fact that Base has not launched the mainnet for all users makes it quite difficult to use this Layer 2.

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