Is Base SZN Already Here? 🚀 The Numbers Behind the Hype

Is Base SZN here?

Over the past few weeks, there have been several indicators that the Base ecosystem might just become the next hottest thing in the market. Let’s go through some key metrics.

1️⃣ Unparalleled Growth in Net Inflows

On-chain analysis platform Artemis released cross-chain bridge data on 28th November. As per the readings, Base recorded approximately $197 million in net inflows over the past seven days. Let’s look at how it did wrt its competitors:

• Three times Solana's $61.5 million net inflows during the same period.

• More than all other Ethereum L2s

• The only platform with more than $100M netflow.

2️⃣ Transaction Volume at All-Time Highs

Base hit 10M+ daily transactions for the first time towards the end of  November, breaking its own records. While the majority of these transactions were MEV transactions, it is still a positive for Base’s scalability.

3️⃣ Dominance in Network Revenue

On Thursday November 28, Base hit $769k in daily revenue, outperforming every other Ethereum L2 by at least 13x.

Let’s look at the cumulative fees and revenue.

Cumulative revenue has crossed $60M, while fees collected has crossed $20M.

The Base Ecosystem: Memes, dApps, and AI Protocols

Base has quickly become the go-to platform for innovation, with memecoins, dApps, and protocols driving its adoption.

Memecoins: A Cultural and Economic Driver

Base has solidified its reputation as the home for memecoins, outperforming competitors in both volume and returns. What’s remarkable is that even smaller, lesser-known tokens on Base have netted triple-digit gains.

Now, why is this such a main driver?

Memecoins, often seen as risky bets, are now reshaping ideas of risk and reward by offering new ways to diversify. With a market similar to NFTs, they could take a share of the ~$70B NFT market while providing a unique space for community engagement and value growth.

Strategically, memecoins offer two key advantages:

• They provide uncorrelated returns compared to BTC, making them useful as hedges for liquid portfolios.

• They help lagging portfolios catch up in performance.

While institutional adoption is still uncertain, memecoins under $1B market caps are proving to be valuable as high-risk, high-reward assets. As BTC becomes a macroeconomic tool, memecoins could play a role in diversifying portfolios with less correlated and more speculative assets.

Virtuals Protocol and The Growth of AI Agents

The Virtuals Protocol ecosystem is booming on Base, as demand for AI agents keeps going through the roof. The ecosystem’s total value jumped 28% in a single day, reaching $1.9 billion, while its native token, $VIRTUAL, hit a new high of $1.89.

Since its launch in January, Virtuals Protocol has become a major player in the AI and blockchain space. Other tokens in its ecosystem, like $AIXBT, $LUNA, and $VADER, have also seen prices double this week. By allowing developers to create powerful AI tools and rewarding users through staking, 

Let’s look at the numbers.

• AI Agents launched: 9,029

• Creation Fee Collected: 68,998 $VIRTUAL 

• Estimated Fees Collected: $93,761 

Safe to say, Virtuals has turned into a hotspot for innovation

Phantom Wallet Integration

Phantom Wallet has added support for the Base blockchain. Phantom is the wallet of choice for Solana users. With this integration, Base can potentially attract new users and liquidity. Community members anticipate this development will drive increased activity on Base, potentially boosting the value of Base-related tokens and solidifying the current "Base season" optimism.

Why Base is Winning the Layer 2 Battle

Base's growth isn’t happening in isolation. It’s the result of deliberate choices and strategic advantages that set it apart from competitors. 

Backing from Coinbase

As Coinbase’s flagship blockchain, Base has access to the marketing, infrastructure, and financial support of one of the largest crypto platforms.

Resilience Under Pressure

2024 has been a challenging year for many L2s, but Base has consistently proven its reliability and scalability, handling major growth without faltering.

Tapping Into Hardcore User Bases

Base has masterfully capitalized on emerging trends, seamlessly aligning itself with the explosive rise of memecoins and the surging demand for AI agents. By positioning itself as a trailblazer at the forefront of innovation, Base has not only captured the zeitgeist but also drawn in a loyal user base and a tidal wave of liquidity, solidifying its place as a powerhouse.

Base season is definitely coming. Some may argue that it is already here.

It is extremely important to have your ears on the ground and capitalize early on such narratives. 

Our elite group delivers expert insights straight from seasoned veterans who’ve mastered the game. Learn the winning strategies, uncover emerging narratives, and position yourself to seize opportunities before the crowd even notices. 

For example, one of our mentors “SimpleJack” will be hosting a “Market Watch” livestream and giving you his insights on the latest trends and trades. 

Join in and learn from one of our experts.