The Top 22 Depositors to Base: A Look at Their Token Allocations
The top 22 depositors to Base, Coinbase’s Ethereum-adjacent blockchain, have been actively trading high-risk tokens on the new layer 2 network. These crypto whales have allocated their holdings to various tokens, including:
- Arbitrum’s governance token ARB
- Casino token RLB
- Memecoins BALD, TOSHI, PEPE, and HarryPotterObamaSonic10Inu (BITCOIN)
- UNIBOT, the Telegram trading bot token
These whales have displayed crypto-native tendencies and have bridged over 100 ETH since July 31. While some users waited for Base’s frontend to go live today, these early whales have already been active on Base as well as other Ethereum scaling solutions like Arbitrum, Optimism, zkSync Era, and Polygon zkEVM.
According to Nansen analyst Niklas Polk, there is a heavy memecoin bias among these whales, as Base offered limited options for trading. However, as more applications come online, the ecosystem is expected to mature beyond memecoins.
In conclusion, the top depositors to Base have been actively trading high-risk tokens, including memecoins and casino tokens. These early whales have shown a preference for Ethereum and L2 ecosystems, with interactions on well-established DEXs, L2 bridges, and the adoption of Telegram bots like Unibot. As the ecosystem continues to evolve, it is likely to see a more diverse range of applications beyond memecoins.
Hot Take: Early Base Whales Drive Adoption of High-Risk Tokens
The early adopters of Base have demonstrated their willingness to take risks and explore new opportunities within the crypto space. By actively trading high-risk tokens, including memecoins, they have driven the adoption of these tokens and showcased the potential of Base as a platform. As the ecosystem expands and matures, we can expect to see a broader range of applications and a more diverse user base on Base.
Cora Skindell is a standout figure in the world of cryptocurrency analysis, research, and editorial expertise. As a seasoned crypto analyst and researcher, Cora’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. Her ability to dissect intricate crypto concepts is complemented by her adept editorial skills, enabling her to distill complex information into easily understandable content.