So, here we are, folks. Base, the layer-2 network from Coinbase, which was supposed to be the next big thing, is now in a bit of a pickle. I mean, it had a strong debut, right? But now? It’s like watching a slow-motion train wreck. 🚂💥
According to some fancy analytics from IntoTheBlock, the Base ecosystem is feeling the heat. And why? Because the market decided to take a nosedive. Who could have seen that coming? Oh, wait, everyone! 🙄
Base Ecosystem Under Pressure
Once upon a time, in mid-December 2024, Base was sitting pretty with a total value locked (TVL) of $4 billion. Fast forward to now, and it’s down to $3.2 billion. That’s like losing a small fortune in a poker game—except you’re not even at the table! 🎲
And let’s talk about transaction volume. It’s dropped from $2.2 billion to a measly $852 million. I mean, come on! That’s like going from a lavish buffet to a sad little sandwich. 🥪
Revenue? Oh, it’s plummeted from $629,000 to less than $192,000. At this rate, they might as well start a GoFundMe. “Help us keep Base alive!” 😩
And if you think that’s bad, only a handful of tokens are still in the green. Retail interest? It’s about as lively as a funeral. 🎭
Transaction volumes are down 78% for their little basket of eight assets. I mean, who wants to invest in something that’s losing steam faster than a deflating balloon? 🎈
Base’s Past Performance
Remember when Base was the darling of retail traders? Daily transactions shot up 1,600% in 2024. It was like the hottest club in town! But now? It’s more like a ghost town. 👻
At one point, it had a TVL over $10 billion. Now, it’s like, “What happened? Did everyone just leave?” It’s the second Ethereum layer-2 network to hit that milestone, and now it’s just… sad. 😢
So, is Base at a crossroads? Is this just a little hiccup, or are we witnessing the end of an era? Who knows! But hey, analysts are saying an altseason is coming. So, maybe there’s hope? Or maybe it’s just wishful thinking. 🤷♂️
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2025-02-22 01:32