The Surge in Total Value Locked (TVL) of Base and the Influence of the BALD Meme Coin
The total value locked (TVL) of Base, an Optimism-based layer-2 platform for Ethereum, has experienced a significant increase, largely driven by the frenzy surrounding the BALD meme coin. As of July 30, Base’s TVL stands at $46.18 million, surpassing competitors Mantle and Apex, and closing in on Polygon’s zkEVM.
Key Points:
- Base’s TVL has surged by 48X, reaching $46.18 million.
- The surge is partially attributed to the popularity of the BALD meme coin.
- BALD’s prices have risen by 4,000,000%, with a market capitalization of over $45 million.
- The influx of funds into Base has indirectly driven transaction count and interest on the OP Mainnet.
- Users should exercise caution when trading BALD as Base is still being tested.
Despite the impressive growth and popularity, users should exercise caution when connecting to Base and trading the BALD meme coin. Base is still in the testing phase, which means that users who engage blindly may risk losing funds. However, users can still connect by manually sending funds to the official contract address.
It is important to monitor how BALD performs ahead of Base’s official launch in August. Whether the BALD frenzy will subside is yet to be seen. Ethereum layer-2 transactions are gaining popularity due to their scalability and low fees, attracting users and projects to platforms like Arbitrum and OP Mainnet. Recently, Worldcoin’s airdrop on OP Mainnet drove transaction counts above Arbitrum for the first time.
Hot Take:
The surge in Base’s TVL and the influence of the BALD meme coin highlight the growing interest in layer-2 platforms for Ethereum. While it presents opportunities for quick profits, users should be cautious and informed to mitigate risks associated with investing in meme coins like BALD. Proceed with caution and stay updated on the developments surrounding Base and the BALD meme coin.
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