Summary
TLDR: Base, an Ethereum layer-2 scaling network incubated by Coinbase, hit a daily record of $1.22 billion in trading volume at DEXs due to a gold rush for meme coins. The network saw a record number of unique daily wallets interacting with DEXs and a surge in overall transactions. Many traders are calling for “Base season” to match Solana’s momentum with meme coins migrating to Base.
Key Points
1. Base, the Ethereum layer-2 scaling network incubated by crypto exchange Coinbase, hit a daily record of $1.22 billion worth of trading volume at decentralized exchanges (DEXs) on Saturday. This surge in trading is driven by a gold rush for meme coins, with Base-native coins like DEGEN and BRETT reaching over half a billion dollars in market cap.
2. The Base network set a record for unique daily wallets interacting with a DEX on Saturday, with 172,000 wallets. This high level of activity continued on Sunday, nearly matching the previous day’s total.
3. Decentralized exchange (DEX) volume on Base remains significantly higher than previous months, with about $965 million in volume on Sunday and already $847 million worth so far on Monday. The vast majority of this volume is coming from Uniswap, which has held a roughly 90% daily share of Base DEX volume over the past several days.