Franklin Templeton, a leading investment firm with assets totaling $1.46 trillion, has released a statement titled “Base Season,” which highlights the growing significance of the Base network. This statement comes at a time when the cost-effective Ethereum Layer-2 (L2) solution is experiencing increased activity.
The Base network, according to Franklin Templeton, is poised to enhance Coinbase’s on-chain user base by accelerating transactions. Simultaneously, the L2 solution continues to provide substantial value to the Coinbase platform.
Franklin Templeton suggests that Base is now ready to shine, as recent data indicates its crucial role in Coinbase’s success. DefiLlama data reveals that Base’s Total Value Locked (TVL) has increased by $166 million from May 1 ($1.379 billion) to May 9 ($1.545 billion). This growth in TVL signifies a rise in assets being added to the Base chain and locked in the DeFi protocol. It also indicates a notable increase in user numbers and growing confidence in the platform.
The increasing popularity of Base can be attributed to various Base meme coins, such as Brett (BRETT), Degen (Base) DEGEN, and Toshi (TOSHI). The Base L2 scaling solution enables users to create meme tokens quickly and easily, while also granting access to a wide range of buyers through the Coinbase platform.
Base’s popularity is further emphasized by its trading activities. With over 100 million verified users, Coinbase is currently the largest publicly traded US-based cryptocurrency exchange. Leveraging its existing products and user base, Coinbase can tap into a new pool of users who are yet to venture into DeFi.
Base’s popularity is also evident in significant applications like Friend.tech in SocialFi. Friend.tech, the largest SocialFi platform on Base, facilitates access for content creators through tokenization methods.
It is important to note that the information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
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