Base Network Surpasses Solana in Daily Token Issuance

Coinbase’s Base, an Ethereum Layer 2 network, surpassed Solana’s daily token issuance, driven by Zora, a decentralized social platform, reported on August 4.

This shift highlights Base’s growing influence and potential to reshape on-chain dynamics, while sparking discussions about short-term speculation and governance within the crypto community.

Base’s Surging Token Issuance: Driven by Zora

Base’s breakthrough stems from Zora’s “Creator Coin” model, transforming digital content into tradable assets. Since Coinbase revamped its Base app, user activity surged, marking a new era in SocialFi dynamics.

Triggered by Zora, Base experienced a record 1.6 million tokens minted, with nearly 3 million traders. This surge in activity emphasizes the growing relevance of decentralized social applications in cryptocurrency developments.

Jesse Pollak from Base stated,

“Base now leads all others in on-chain token issuance.”

Conor Grogan also regarded it as a major development, highlighting Base’s disruptive potential within the on-chain ecosystem.

Potential Regulatory Scrutiny Looms as Issuance Soars

Did you know? The recent shift from Solana to Base in daily token issuance marks a notable change in crypto industry patterns, emphasizing the rapidly evolving landscape of SocialFi-driven token economies.

According to CoinMarketCap, Ethereum (ETH) is currently valued at $3,497.28, with a market cap of $422.16 billion. It has seen a significant 39.42% increase over the last 30 days, reflecting dynamic growth in the cryptocurrency sector.

Insights from the Coincu research team suggest that Base’s rise might soon prompt regulatory scrutiny, notably around speculative trading patterns and governance. The dynamic could influence future strategies for token models and digital asset management.