Bit Digital - Sponsor Image Bit Digital - ETH treasury combining ETH staking with AI compute. Friend & Sponsor Learn more

The Great Memecoin Migration

Memecoins are swapping chains to capture the hype
The Great Memecoin Migration
4
0

Subscribe to Bankless or sign in

The fervor around memecoin mania shows no signs of slowing, but the emergence of shiny new tokens to ape has caused the battleground for attention to become increasingly competitive, threatening the dominance of existing projects. What plays are top memecoin communities making in hopes of recapturing the market’s attention?

Within the Ethereum ecosystem, Base has emerged as a hotspot of onchain activity, consistently processing over a million transactions per day since EIP-4844 went live and overtaking Blast to become the third largest L2 after experiencing a 2x increase in assets on the chain in the past 10 days.

In efforts to capture a portion of the flows going into Base’s memecoins, a sector with a market capitalization of just over $1B according to CoinGecko, the ticker BITCOIN account tweeted yesterday it would be deploying on Base, prompting a short-lived rally that spiked price by nearly 20% in the 15 minutes following the announcement.

Abonnez-vous gratuitement pour continuer à lire

  • Soutenez le mouvement Bankless
  • Accès à des milliers d’articles
  • Archive complète des épisodes Bankless
  • Lancez-vous dans des quêtes gratuites sur Airdrop Hunter
  • De l’alpha quotidien dans votre boîte mail

Déjà abonné ? Se connecter


4
0
Jack Inabinet

Written by Jack Inabinet

498 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

No Responses
Rechercher sur Bankless