Blockchain Base Becomes Memecoin's New Paradise, Ready to Compete with Solana

Bittime - Base Blockchain Base, a blockchain created by Coinbase Global Inc., has experienced a surge in activity related to memecoin transactions that reached a value of more than $1 billion (around Rp15.915 trillion).

Memecoin: The Growth Driver of the Base Network

Memecoins, which are often not listed on the Coinbase exchange, have become a fascination for crypto traders. ANIME and DEGEN tokens, both memecoins, became the two most traded tokens on Base.

Coinbase presents Base as a "bridge" that connects users with the broader crypto ecosystem, including DeFi, blockchain games, and NFTs. However, the popularity of memecoins also signifies that online gambling is still one of the main uses for cryptocurrencies.

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Impact of Dencun Upgrade

The latest Ethereum software update, Dencun, has given Base a significant boost by reducing transaction fees on Layer 2 blockchains by up to ten times, making Base more competitive. Base had been gearing up for Dencun from the start, which managed to lower the average transaction fee from about 10 cents to 1 cent or less.

Base's ambition is to attract more than a billion new users, driven by a recent increase in activity. However, the presence of memecoins and the furor that comes with them has led to criticism of Coinbase.

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Memecoin Benefits Coinbase's Base Ecosystem

Despite the criticism, analysts argue that interest in memecoins could provide benefits for Coinbase, which may be able to overcome the criticism.

Base has managed to generate an estimated daily revenue of $2 million (around Rp31,830 billion). If Base can surpass the memecoin phenomenon, this could be a big win for Coinbase, especially if it becomes one of the most widely used blockchains.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Base Developer Announces Plan to Improve Base Network Performance

DEGEN, Meme Coin on Blockchain Base Skyrockets to New Highs

4 Best Base Chain Memecoins: Purchases with High Profit Potential

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.