The world of social finance (SociaFi) and the Ethereum Layer 2 (L2) blockchain is witnessing a new wave of dominance with the emergence of Base, a platform developed by Coinbase Global Inc. By controlling nearly half of all SociaFi transactions, Base has become a hot topic among crypto investors and app developers.
SociaFi Transformation Through Base
A recent report from Franklin Templeton highlights that Base now controls around 46% of all SociaFi transactions, putting it at the forefront of the Ethereum L2 sector. The platform has managed to attract several leading SociaFi applications to build on top of its infrastructure, marking a new era in social interaction powered by blockchain technology.
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Friend.Tech: Social Media Applications on Base Network
One of the most prominent apps on Base is Friend.Tech, who recently launched the second version and airdropped their native token, FRIEND. These mobile apps allow users to monetize their social interactions through a unique mechanism known as social "locks." With a 5% fee structure, Friend.Tech provides incentives for users to actively participate in their ecosystem.
Since its launch in August 2023, Friend.Tech has recorded impressive numbers with daily protocol costs reaching $1.42 million (approximately Rp22.8 billion) and registrations of more than 100,000 users in the first two weeks. Currently, FRIEND is trading for $2.26 (around Rp36,250) with a market capitalization of $34.9 million (around Rp560 billion).
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Meme Coin, Supporting Factor of Base Activity
Not only SociaFi, meme coins and the increased supply of Circle's USDC stablecoin also contributed to the surge in activity at Base. Tokens such as BRETT, DEGEN, and TOSHI have shown significant growth, adding to the market dynamics within the Base ecosystem.
Base Dominance in Ethereum L2 Market
Data from The Block shows that Base not only dominates in terms of transactions but also revenue, generating over 60% of total Layer 2 revenue. With daily transaction averages far surpassing competitors like Optimism and Arbitrum, Base has established itself as the undisputed leader in the Ethereum L2 sector.
Kesimpulan
Dengan dukungan dari Coinbase dan inovasi seperti optimistic rollups, Base berada di jalur yang tepat untuk terus memimpin pasar Ethereum L2 dan SociaFi. Kenaikan aktivitas di Base menjanjikan masa depan yang cerah bagi ekosistem kripto secara keseluruhan.
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Cara Beli Crypto di 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.
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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:
$BRETT: Viral Memecoin from Base Chain
Toncoin (TON) Strengthens When Notcoin (NOT) Will List on Crypto Exchanges
Solana (SOL) Price Prediction 2024: Will the "Ethereum Killer" Keep Crashing?
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.
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