Degen

Base

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 <p class="paragraph">Recent data analyses have shown a remarkable surge in on-chain activity within the Base mainnet according to Bitget Wallet executives.</p>
 <p class="paragraph">Namely, over the past month, daily transactions have consistently exceeded the 1 million mark.</p>
 <p class="paragraph">The leap was anticipated on March 28 already, when daily transaction volumes skyrocketed beyond 2 million, reaching a weekly peak of 3 million transactions.&nbsp;</p>
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 <h2 class="wp-block-heading" id="h-bitget-wallet-s-staggering-growth">Bitget Wallet’s staggering growth</h2>
 <p class="paragraph">Bitget Wallet, a prominent Web3 wallet, has played a substantial role in driving this heightened activity.&nbsp;</p>
 <p class="paragraph">Just this week, Bitget Wallet recorded daily transactions surpassing 200,000, over 10% of the total transaction activity on the Base chain.</p>
 <p class="paragraph">Alvin Kan, the COO of Bitget Wallet, talked about reasons behind the recent upward trajectory in the Base ecosystem, attributing it to three primary factors.&nbsp;</p>
 <p class="paragraph">Firstly, the Dencun upgrade has spurred additional funding, resulting in a 6x rise in high-quality developers since January.&nbsp;</p>
 <p class="paragraph">Additionally, the total value locked (TVL) on Base has seen a surge from $477 million in early March to $1.47 billion, outpacing other Layer 2 platforms such as Arbitrum, Optimism, and Starknet.&nbsp;</p>
 <p class="paragraph">Another significant event was the Meme Fever within the Base community, triggered by the launch of a meme coin by the founder of the renowned non-fungible token (NFT) project, mfers.&nbsp;</p>
 <p class="paragraph">Combined with the trading of popular meme coins, this propelled the transaction volume on the Base chain to an unprecedented $1.22 billion on March 30.&nbsp;</p>
 <p class="paragraph">Furthermore, the growing excitement surrounding FriendTech, the hype around Degen Token, and the increase in daily active users on Farcaster have all contributed to the growing attention and capital inflow.</p>
 <h2 class="wp-block-heading" id="h-the-moew-coin">The MOEW coin</h2>
 <p class="paragraph">The recent spike in activity on the Base chain can also be credited to the impact of the meme coin MOEW .</p>
 <p class="paragraph">Introduced by Bitget Wallet on April 3, MOEW quickly gained traction by distributing a significant amount of free tokens to BWB point holders.&nbsp;</p>
 <p class="paragraph">With nearly 100,000 addresses now holding MOEW and a total transaction volume exceeding $120 million, the coin claimed the top spot on the Base chain’s interaction leaderboard for a short period.</p>
 <h2 class="wp-block-heading" id="h-future-prospects-within-the-base-nbsp">Future prospects within the Base&nbsp;</h2>
 <p class="paragraph">As one of Ethereum’s active Layer 2 solutions, Base boasts a thriving on-chain ecosystem, an engaged user base, and broad developer support.&nbsp;</p>
 <p class="paragraph">These factors directly influence the quantity and caliber of projects that Base can attract.&nbsp;</p>
 <p class="paragraph">With backing from the Coinbase Foundation, Kan believes the Base chain is well-prepared to tackle regulatory and compliance challenges in the times ahead.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitget-wallet-execs-analyze-base-network-tbt85090.html">https://thebittimes.com/bitget-wallet-execs-analyze-base-network-tbt85090.html</a></p>

Bitget Wallet execs analyze Base network

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TheBitTimes

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