Franklin Templeton, a global asset management firm with $1.46 trillion under management, has released a statement titled “Base Season” to highlight the growing importance of the Base network. This statement comes at a time when there has been an increase in activity on the cost-effective Ethereum Layer-2 (L2) solution.
According to Franklin Templeton, Base has the potential to scale Coinbase’s on-chain user base by expediting transactions. The L2 solution also continues to provide significant value to the Coinbase platform.
Franklin Templeton, a major player in the investment market, suggests that Base is poised for success.
Recent reports have shown that the Base network has played a crucial role in Coinbase’s achievements. Data from DefiLlama reveals that Base’s Total Value Locked (TVL) increased by $166 million from May 1st ($1.379 billion) to May 9th ($1.545 billion).
The rise in TVL indicates that more assets are being added to the Base chain and locked in the DeFi protocol. The platform has also seen a notable increase in user numbers and growing confidence among its users.
The surge in popularity of Base can be attributed to various Base meme coins such as Brett (BRETT), Degen (Base) DEGEN, and Toshi (TOSHI). Base’s L2 scaling solution allows users to quickly and easily create meme tokens, while also providing access to a wide range of buyers through the Coinbase platform.
Furthermore, trading activities on Coinbase further demonstrate the popularity of Base. With over 100 million verified users, Coinbase is currently the largest publicly traded US-based cryptocurrency exchange.
One advantage of Base is that Coinbase can leverage its existing products and user base to tap into a new pool of users who are not yet involved in DeFi.
Additionally, Base’s popularity is evident in significant applications like Friend.tech in SocialFi. Friend.tech is the largest SocialFi platform on Base, providing content creators with access to tokenization methods.
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Disclaimer: The information provided in this article is not investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is recommended to conduct thorough research before making any investment decisions.
