Base's Billion-Dollar Leap

Speeding Past the Competition: How Base Became the Fastest Cheetah

Author

Jungle Degen
April 12, 2024

Greetings Crypto Explorers! 🌴🦜

Welcome to another thrilling edition of Jungle Tales, your go-to crypto newsletter where adventure meets the wild world of cryptocurrency. This week, we spotlight the roaring success of Coinbase's layer-2 network, Base, which has impressively surpassed $4 billion in total value locked (TVL), marking its territory as a formidable force in the Ethereum layer-2 ecosystem. As we navigate through the dense foliage, we'll also glance at other exhilarating updates, including Bitcoin's bold rebound, the anticipation around Hong Kong's spot Bitcoin ETFs, and the latest on meme magic in the crypto jungle. So, sharpen your machetes and tighten your grip on your digital wallets as we embark on this week's crypto expedition.

As always… Stay Wild! 🌿🦁🚀

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

Base hits $4B TVL as monthly txs outstrip Ethereum and Arbitrum

cointelegraph.com/news/coinbase-base-tvl-4-billion-transactions-beating-ethereum

This week, we've witnessed a unique beast in the crypto wilderness making significant strides. The Coinbase layer-2 network, Base, has roared louder than ever, marking its territory by surpassing a whopping $4 billion in total value locked (TVL) 📈. Yes, you heard it right! For the first time, Base has shown the rest of the Ethereum layer-2 pack just how to swing through the trees with style.

In an ecosystem where others have felt the bite of decline, Base stood tall and proud, boasting a 13.2% TVL increase over the past week. This makes it the only top-five Ethereum layer-2 to flex its muscles with a gain. With $1.45 billion of its value bridged directly from Ethereum and a hefty $2.7 billion in natively minted assets, Base has climbed to the third spot among Ethereum's layer-2s, leaving competitors like Blast and even Optimism in the dust.

But that’s not all - Base has been buzzing with activity 🐝, recording over 50.34 million transactions in the last 30 days alone, beating both Arbitrum and Ethereum themselves! Its transactions per second (TPS) have surged by 29.7% over the week, making it faster than a cheetah on a sprint!

And let’s not forget the meme magic! Base's meme token market has ballooned to over $1.6 billion, thanks to some wild and wacky memecoin activity in the jungle.

However, watch out for sneaky snakes; Base has seen an uptick in phishing scams, with $3.35 million stolen last month. Always keep your crypto treasures safe!

As we look towards the horizon, Ethereum's latest upgrades aim to improve how it handles layer-2 data, potentially making networks like Base even more formidable competitors in the blockchain jungle.

Keep your binoculars ready, and your wallets secure as we continue our adventure in the wild and wonderful world of crypto. Until next time, stay wild, stay degen! 🌿💎

📈 News around Base:

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week.

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

In the depths of the crypto jungle, where secrets are as common as the leaves on the trees, there whispers a legend of an ancient beast. This creature, unseen but ever-present, moves through the market under the cover of volatility, leaving a trail of chaos in its wake. It is said to possess the power to elevate or crush the dreams of the most seasoned adventurers with just a flick of its tail. Many have tried to tame it, some have even claimed to understand its patterns, but none have truly unraveled the mystery of its true nature. As elusive as the morning mist and as unpredictable as the jungle itself, this beast holds the key to fortunes made and lost overnight. What is the name of this legendary creature that dances in the shadows, known to shift the fate of crypto explorers with its mighty roar?

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $66,853.22 (1.40%)

  • Ethereum (ETH) - $3,230.30 (3.04%)

  • Top Gainer: Nervos Network (+57.58%)

  • Top Loser: Core (-40.49%)

    Snapshot taken on the 12th of April, around 1:26pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

Which aspect of Base's recent growth excites you the most?

Login or Subscribe to participate in polls.

🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

a river swim is always refreshing

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the heart of the crypto jungle, volatility prowls like a shadowy panther, elusive and unpredictable. As the market takes a plunge, remember, it's the agility of the explorer that navigates through the thickest underbrush and the steepest declines. Like a seasoned tracker reading signs in the mud, use this moment to learn the tracks of your elusive quarry. In the whispers of the wind through the canopy and the rustle of the leaves, lies the wisdom to withstand the storm. Let not the roar of the falling market dismay you, but instead, see it as the call of the wild—inviting you to adapt, persevere, and grow stronger. For in the unpredictability of these depths, resilience is forged, and the true spirit of adventure thrives. Keep steady, for after every downpour in this jungle, the sun emerges, revealing paths laden with fresh opportunities.

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on Twitter X.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!