Coinbase's Ethereum Layer 2 network, Base, has seen a significant increase in activity following hints of a potential native token airdrop. The network's total value locked (TVL) reached $5.1 billion in early September, and weekly transactions exceeded 90 million for the first time, marking a 10% rise from December's figures. Despite this surge, the number of active addresses is declining, indicating that existing users are driving the activity. Speculation on social media suggests that protocol creators and those who launched creator coins may benefit most from the anticipated airdrop. Influencer IcoBeast highlighted that the Base team has been transparent about reward qualifications, while Base founder Jesse Pollak emphasized the importance of building and onboarding. Meanwhile, decentralized exchange volumes on Zora, a creator coin platform, have decreased to $6.26 million in mid-September, down from a peak of $54 million in July.
Base Network Activity Peaks Amid Token Airdrop Speculation
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