Base TVL Surges Amid BALD Meme Coin Frenzy

Base's TVL Growth

The total value locked (TVL) of Base, an Optimism-based layer-2 platform for Ethereum, has experienced a remarkable surge, increasing by 48 times. This growth is largely driven by the excitement surrounding the BALD meme coin. As of July 30, Base's TVL reached $46.18 million, surpassing competitors like Mantle and Apex, and closing in on Polygon's zkEVM, which boasts a TVL of $56 million.

The BALD Meme Coin Impact

The BALD meme coin, inspired by Brian Armstrong of Coinbase, has significantly influenced Base's transaction counts. Since its launch on July 29, BALD's price skyrocketed by 4,000,000%, reaching $0.063 with a market capitalization exceeding $45 million. This rapid increase has sparked a fear of missing out (FOMO), attracting investors eager for quick profits. Consequently, the influx of funds has also increased interest in the OP Mainnet, previously known as Optimism.

Caution for Meme Coin Enthusiasts

Despite the impressive growth, users should proceed with caution when engaging with Base and trading BALD meme coin. Base is still in testing, posing potential risks for those who engage without thorough understanding. Users can connect by manually sending funds to the official contract address, but should remain vigilant.

Ethereum Layer-2 Advantages

Ethereum layer-2 platforms offer cheaper transactions than the mainnet, with scalability and low fees drawing users and projects to platforms like Arbitrum and OP Mainnet. The recent launch of Worldcoin's WLD token on OP Mainnet further increased transaction counts, surpassing Arbitrum and boosting its TVL.

The future performance of BALD and its impact on Base's official launch in August remains uncertain, with ongoing monitoring of its evolution.