Coinbase, a major crypto exchange with over 110 million users, is a gateway for many to enter the crypto world. This brings significant traffic to the base chain (Coinbase's Ethereum L2), potentially impacting transaction volume and fees due to the number of users buying, selling, and trading cryptocurrencies.

Coinbase is introducing a game-changer for user experience with its new "Smart Wallet" feature (currently in testing). It lets developers create crypto wallets directly within dApps, removing the need for complex seed phrases. Users can simply log in with a passkey and easily access DeFi built on the base chain.

But there are more benefits. Smart Wallet potentially reduces friction associated with gas fees, since funds can be managed directly within the dApp, simplifying the transaction process. This smoother experience might attract many more users to the crypto ecosystem.

The recent Dencun upgrade on Ethereum significantly reduced fees on Base. Base benefits from Layer 2 solutions for faster, cheaper transactions, making DeFi on Base more accessible. Base's TVL has rocketed, indicating more users are depositing their crypto tokens, leading to an expanding user base and increasing daily transactions.

Here are some tokens in the Base ecosystem worth keeping an eye on:

Degen

The Degen (DEGEN) token started as a fun way to reward active users and content creators in the Farcaster Degen channel. It's now the native token of the Base Layer 3 Degen chain, used for gas fees. This means interacting with dApps built on Degen requires DEGEN to cover gas fees. So, what began as a playful social currency has become a serious player in the Base ecosystem, offering a unique blend of utility and user engagement.

DEGEN launched in February 2024 for $0.0024, rising in its first two days before a slow decline. However, a spike in March fueled by increased attention on the Base ecosystem started exponential growth, resulting in a 20x increase from its launch price. This rapid rise pushed the token's price well past the overbought line on the RSI indicator. Since the beginning of April 2024, DEGEN has retraced but recently resumed its upward trajectory. It is currently priced at $0.03.

Aerodrome

The Aerodrome (AERO) token is a key player in the Base ecosystem, serving as the native token of Aerodrome Finance. Aerodrome Finance is a next-generation AMM made specifically for Base. It's the central hub for liquidity, offering a powerful incentive engine to attract users and trade tokens smoothly. AERO holders govern through vote-locking, gaining voting rights on key decisions by locking their tokens for a set period.

AERO's launch in February 2024 was slow, but March's Base surge rocketed it to its first breakout. AERO then had a volatile period, swinging between strong gains and corrections as reflected by RSI overbought signals. Currently priced at $1.6, AERO's price movements reflect the market's response to developments within the Base ecosystem.

Brett

The Brett (BRETT) token is a popular meme coin on the Base blockchain, described as PEPE’S best friend on BASE. It has no utility however, it has captured the attention and generated excitement within the community, particularly during the rise of meme coins on Base and the launch of the Degen Chain.

Launched in March 2024 for $0.035, BRETT has been on an uptrend despite some pullbacks. Among the other memecoins launched in March due to increased attention on the Base chain, BRETT is one of the few that remains relevant. Currently trading at $0.06, BRETT continues to attract attention in the crypto space.

Synthswap

Synthswap (SYNTH) token is the native governance and utility token of the Synthswap platform, a DEX on Base. The platform offers low-fee swaps and access to various crypto assets. It allows holders to participate in the Synthswap governance process, shaping the platform through voting on key proposals.

SYNTH launched strong in August 2023, surging from $36 to its peak within three days. However, a slow decline followed, bringing the price down to $4.5 by November 2023. December 2023 saw a revival, with SYNTH reaching $16.5. The new year has brought another decline, with a new all-time low of $3.8 in March 2024. Base's recent increased attention rocketed SYNTH to $27 in a few days, but since April, it has retraced to its current price of $7.37.

The Base ecosystem is quickly evolving. With the innovative Smart Wallet and established projects like Aerodrome, Base offers a user-friendly and rapidly growing DeFi environment. While rumors of a BASE token airdrop are circulating, it's worth noting that Coinbase CEO has publicly stated no plans for a Base token launch.

The Base ecosystem isn't just about established projects. Memecoins like BRETT have captured the attention of the community, and some users have seen significant gains. However, it's important to remember that memecoins are often high-risk and lack real-world utility. Be cautious, do your own research, and only invest what you can afford to lose.

Affiliate Links

Join the Selected Investment VIP Group: Join Here

Trade the tokens above on these exchanges: BingX / MEXC

SurfShark VPN service: Get 3 Months Free!

Vultr VPS Service: Receive $100 when you spend $35!

Astrabit Trading Bot Service: Elevate Trading / Warp Bots

DISCLAIMER AND WARNING

I am not a financial advisor. This content is for entertainment and educational purposes only. For professional advice, please consult a financial advisor. I cannot be held liable for any actions you take based on my opinions or the content on this channel, its social media platforms, or websites. Information provided here is for informational purposes only; do not make financial decisions based solely on this content.