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A company that is changing the way the world mines bitcoin

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24h Vol
12450
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Bitcoin Share
The Coin Rise 2025-01-19 21:42:55

Coinbase’s L2 Base Sees Impressive Growth in NFT and DeFi

Coinbase’s L2 Base Sees Impressive Growth in NFT and DeFi

Base, Coinbase’s Layer-2 blockchain network, is rapidly solidifying its position as a dominant force in decentralized finance (DeFi) and non-fungible tokens (NFTs). The network’s robust growth and expanding ecosystem make it a noteworthy player in the blockchain space. DeFi Llama ’s recent report shows that the L2 network has made significant achievements across multiple sectors. Base, A Rising Star in DeFi Space The DeFi space is growing fast, and Base has become the largest layer-2 network in the crypto world. It now hosts over 410 decentralized apps (dApps), revolutionizing how people use financial systems without relying on traditional banks. Key players in this thriving ecosystem include Aerodrome, Uniswap, Morpho Blue, and Moonwell. One of the standout protocols in the Base DeFi space is Morpho, a competitor to AAVE, which shows promise in decentralized lending and borrowing. Base’s activity is impressive, handling over $264 billion in transactions since its inception. More recently, transaction volume reached $12.2 billion in just one week, showcasing the high demand and utility of the network’s offerings. Speculatively, introducing Bitcoin-backed loans on Coinbase could further boost Base’s growth, pushing Morpho and other DeFi projects to new heights. Memecoins and NFTs Fuel Base’s Continued Success Base’s growth is not just about DeFi; its booming memecoin ecosystem also drives it . The memecoins are now worth over $2.6 billion, with tokens like Brett and Akuma Inu leading. NFTs are another highlight, with sales up 45% last week to $8.3 million and over 15,000 unique buyers. Cumulative NFT sales have exceeded $62 million, and the network handles over 40 million monthly transactions. These numbers place Base ahead of rivals like Arbitrum and Polygon. Base Expands Into AI and Gaming Sector In addition to its success in DeFi and NFTs, Base is expanding into emerging sectors such as artificial intelligence (AI) and gaming. This expansion is expected to open up new opportunities for developers and users, making Base an even more attractive platform for growth and innovation. Due to Base’s impressive expansion and strong user engagement, the network will likely achieve a substantial valuation. This is especially true if Coinbase rolls out the much-anticipated airdrop as part of its roadmap for 2025. The L2 scaling solution is set to become a major player in the layer-2 crypto space with an estimated fully diluted valuation (FDV) of $7 billion. This would place it ahead of competitors like Arbitrum, valued at $3.2 billion, and Optimism, at $2.47 billion. Such a valuation highlights its rapid growth and increasing importance in the DeFi ecosystem. If the trend continues, Base could solidify its position as a leader among layer-2 networks. The post Coinbase’s L2 Base Sees Impressive Growth in NFT and DeFi appeared first on TheCoinrise.com .

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24h Vol
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