Crypto enthusiasts have rapidly taken advantage of the recently launched Coinbase-backed Layer 2 blockchain, Base, with memecoins such as Bald experiencing a surge in activity and value.
In the past day alone, over 276,000 transactions have been documented, and over $48 million in ether transferred to the network.
The coins have grown in value by an incredulous margin–Bald by 20,000-fold, and others such as Based and Optism by 5,580 times and 435 times, respectively.
Despite the lack of an official mainnet bridge during the developer access period, users have used a portal proxy contract, with reports of more than a million wallet addresses soon deploying on the network.
The Base team did note prior to launch that it had no plans to issue a native token.
