Here’s How Base Is Crushing Solana in Daily Token Launches
Main Idea
Coinbase-incubated Layer 2 network Base has surpassed Solana in daily token launches, driven by integrations with Zora and Farcaster, while maintaining lower trading volumes and higher profitability compared to other Layer 2 networks.
Key Points
1. Base exceeded Solana in daily token launches, with a record 54,341 tokens launched on July 27, more than double Solana's 25,460.
2. Zora and Farcaster integrations significantly boosted Base's token creation activity, increasing daily volumes from 6,600 to over 45,000 by July-end.
3. Despite higher token launches, Solana still leads in trading volume for newly created tokens.
4. Base emerged as the most profitable Layer 2 network, averaging $185,291 in daily revenue over six months, surpassing Arbitrum and other top Layer 2s.
5. Base's revenue is largely driven by its EIP-1559-inspired fee mechanism, with priority fees accounting for 86% of daily revenue.
Description
Coinbase-incubated Layer 2 network, Base, has outpaced Solana in daily token launches over the past two weeks. Zora and Farcaster have significantly boosted Base token creation, pushing its daily launches above that of Solana’s. Token Launch Frenzy The data shared by CryptoRank revealed a dramatic shift beginning in July, when Base first surpassed Solana in new token deployments. It has since maintained and even widened its lead. Dune Analytics further confirms this trend. On July 27, Base saw a...
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