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Coinbase's Layer 2 network, Base, has shown significant growth, generating $15.5 million in sequencer fees in Q1, a 14x increase from $1.1 million in the previous quarter. Despite this, it only contributed 1% to Coinbase's total revenues. Franklin Templeton praised Base, stating it has 'hit a home run in the world of SocialFi.' The network noted a 45% surge in SocialFi transactions and dominates with 46% of all SocialFi activity. The USDC supply on Base has also reached $2.5 billion, indicating robust growth.
📈 Is Base season upon us? Franklin Templeton thinks so! @FTI_DA believe that #BASE has 'hit a home run in the world of SocialFi', and its relevance will only go up! 46% of all SocialFi activity is on @base, with https://t.co/w8Yj0Cn2oa the most prominent SocialFi platform. https://t.co/4iLrtPMKGu
FTI Global predicts #Ethereum layer 2 Base will dominate SocialFi, fueled by memecoins and Friend tech. Recent data shows a 45% surge in #SocialFi transactions on #Base. USDC supply on Base now tops $2.5 billion. https://t.co/SzKDtEFvfq
🚨JUST IN: @COINBASE'S L2 @BASE NETWORK HAS "HIT A HOMERUN" IN SOCIALFI SECTOR ~ FRANKLIN TEMPLETON
