BASE with is a layered blockchain for Coinbase offering up Apps and other games is starting to gain some serious traction. At first BASE had a rather slow start up in which NFTs were a primary factor but quickly feel short of what it should have been. People simply didn't care much for the influencers and NFTs they were creating. Thus a new shift in focus was made to start the BASE network.
With an impressive 3.45 transactions per second and 6.97million transactions in total in the last 30 days Base is starting to shape up to a sizeable operation including it's now 735 Million TVL. Also supporting now an over 2.5 million active user base it's clear BASE is growing and doing to at a rather steady pace.
Like any blockchain it's had a rough start in terms of scams and spams. Meme coins that really have no tokenomics besides trying to be the next hype coin where owners sell out and leave everyone else with junk tokens. This happens on any layer two blockchain but being that it's decentralized anything goes which means "investors" really every day people need to be smart and do their research on a project and take responsibility when they invest into some shitcoin and get screwed by it instead of running to the SEC and crying. It's also had some early start up issues with outages which is an extremely weird issue to have for a blockchain but seems to happen more often than not on a number of blockchains lately besides just Base.
Another big push for Coinbase lately is the introduction on TradFi assets. These applications are being built on the oversight of Abu Dhabi regulators. The project name id Project Diamond and let's institutions create and trade gitital native versions of financials such as debt using the Base blockchain. Part of the RWA (Real World Assets) that are starting to expand greatly and expected to be the forefront of 2024 bull market push.
This is also a push for Coinbases new custody service in which it's been getting hammered with in a good way due to spot ETFs. It's very possible the the Coinbase BASE blockchain is focusing on setting itself up as being a standard for RWA which is expect to hit well over 10 trillion dollars in value by 2030 now just 6 years away which is a massive boost form the current 1.5 trillion in the crypto market.
These types of bridges will allow for fluid motions of real world assets into crypto and blockchain and start to push both up by creating frictionless transactions and opening up investments to many more people. Removing a number of middle man fees that banks normally charge for such things and instead now it will all be on chain.
oh and BTW Merry Christmas!
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