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Solana vs. Base Memecoins
Published on May 27, 2024
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NEED TO KNOW
ETH Nears $4,000
  1. 4️⃣ ETH Nears $4,000. After a somewhat muted market response to ETH ETF approvals, the asset is quietly marching toward the key marker.
  2. 🙉 JPMorgan doubtful of Solana ETF. While Ethereum's ETF approval was seen as potentially opening the floodgates to other assets, a report from JPM suggests that near-term approval is unlikely.
  3. 🗳️ Trump pledges Ross Ulbricht pardon. In an appeal to attendees at the Libertarian Convention, Trump promised to pardon the Silk Road founder on his first day if re-elected.
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ANALYSIS
Can Base Challenge Solana’s Memecoins?
Bankless Author: David C.

Solana’s comeback has been the story of this cycle so far, with the network rising on the backs of tech improvements, lucrative airdrops, and, most notably, memecoins

Memecoins have gone from an unserious, short-lived asset class to a forward-looking alternative to low float, high FDV tokens that aren’t leaving enough upside for retail.

Today, most memecoin activity happens on Solana, though activity is continuing to migrate to ETH L2s like Arbitrum and Base. Base has been particularly buzzy as of late. While the Coinbase-incubated L2 does show promise to become a meme hub, activity on Solana continues to dominate and stay within its ecosystem.

Can Base compete with Solana in the memecoin arena? 

In this article, we’ll examine the current state of these platforms, their capital flows, and leading projects to assess what makes Solana the memecoin capital and how Base compares to it.

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