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Franklin Templeton, managing assets worth $1.46 trillion, made a statement titled “Base Season,” drawing attention to the Base network. The statement was made amidst an increase in activity in the cost-effective Ethereum Layer-2 (L2) solution.
Statement from Franklin Templeton
To provide some information about Base, it appears positioned to scale Coinbase’s on-chain user base by speeding up transactions. On the other hand, the L2 solution continues to serve as a significant value for the Coinbase platform.
According to Franklin Templeton, a major investment firm in the market, it might be time for Base to shine.
Recent statements indicated that the Base network has played a significant role in Coinbase’s success. According to data presented by DefiLlama, Base’s Total Value Locked (TVL) saw an increase of $166 million from May 1 ($1.379 billion) to May 9 ($1.545 billion).
The increase in TVL indicates that more assets are being added to the Base chain and locked in the DeFi protocol. There is also a noticeable increase in user numbers and growing confidence on the platform side.
Latest on the Base Side
The growing popularity of Base is associated with various Base meme coins such as Brett (BRETT), Degen (Base) DEGEN, and Toshi (TOSHI). The Base L2 scaling solution helps users quickly and easily create meme tokens, while also opening up access to a wide range of buyers through the Coinbase platform.
On the other hand, trading activities also highlight Base’s popularity as a factor. Coinbase currently hosts over 100 million verified users, positioning it as the largest publicly traded US-based cryptocurrency exchange.
Another advantage is that Coinbase can leverage its existing products and user base to access a new pool not yet established in DeFi.
Additionally, significant applications like Friend.tech in SocialFi also shed light on Base’s popularity. Friend.tech stands out as the largest SocialFi on Base, facilitating access for content creators through tokenization methods.
