Lưu trữ cho từ khóa: Base

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Degen is up 223% in 30 days as Base Blockchain DEX volume surges

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​​Degen, a popular meme coin on the Base Blockchain, has staged a strong rebound, making it one of the best-performing cryptocurrencies. 

Degen (DEGEN) has jumped by over 223% in the last 30 days and by 335% from its lowest point this year. Data compiled by Nansen shows that the rebound has coincided with a rising number of smart money holders. It has 67 holders, the highest level since June 19 and higher than the September low of 45.

The token has also jumped ahead of its Coinbase listing set for Oct. 15. This is a major development since Coinbase is the biggest crypto exchange in the United States. In most cases, altcoins rally ahead of a big exchange listing.

This listing comes a day after the developers partnered with PancakeSwap, the biggest decentralized exchange on the Binance Smart Chain. The partnership led to the launch of the DEGEN-ETH liquidity pool. 

Degen has now been listed by some of the biggest exchanges in the industry like Gate.io, OKX, Bybit, and HTX. Most of its trading is happening on Uniswap, Aerodrome, and OKX. With the Coinbase listing confirmed, there are chances that Degen will be listed by Binance.

Degen’s surge has also coincided with the ongoing surge in Base Blockchain DEX volume. DeFi Llama data shows that the network handled over $5.69 billion in the last seven days, making it the third-biggest chain after Ethereum (ETH) and Solana (SOL). It has overtaken other large networks like BNB Chain, Arbitrum, and Sui.

Degen’s rally has happened in a high-volume environment. Data by CoinGecko shows that the 24-hour volume rose to over $43 million, the highest point since Oct. 11.

Other Base meme coins have also surged. Brett has risen by 20% in the last seven days, while Keyboard Cat and mfercoin have soared by over 30% in the same period.

Degen price has formed a rounded bottom

Degen price chart | Source: TradingView

The Degen token bottomed at $0.0022 in August and has been in a slow uptrend since then. It has risen to $0.012, its highest level in over three months. 

Degen has moved above the 50-day moving average and formed a rounded bottom pattern, a popular bullish sign. Therefore, the token may continue rising as bulls target the key resistance level at $0.02555, its highest point on June 5 and 148% above the present level.

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Công nghệ

Christie’s to issue blockchain-based ownership certificates

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Crypto wallet provider Kresus has partnered with Christie’s to bring blockchain technology to art ownership. 

As part of Christie’s photography auction, “An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina,” Kresus will issue digital Certificates of Ownership for over 130 artworks, according to a press release shared with crypto.news. 

Christie’s is one of the world’s leading auction houses, specializing in the sale of fine art, antiques, jewelry, and collectibles.

Certificate of art ownership via the blockchain

This partnership involves using the Base blockchain, developed by Coinbase, to mint unique digital certificates for each art piece sold. These certificates provide a secure way to verify ownership and track the history of the artwork.

Buyers will be able to access their certificates through the Kresus wallet, offering a modern alternative to traditional paper records. Blockchain is often used in crypto transactions, but in this case, it provides an unchangeable digital record of who owns each artwork. 

For collectors, this means they have a secure, digital way to prove ownership, replacing paperwork that can easily be lost or forged.

Trevor Traina, the founder of Kresus, emphasized that managing art collections can be complicated, and blockchain simplifies this process. 

“As an art collector, I am well aware of the burden of managing and maintaining provenance and proper documentation- often in paper form and in file cabinets. This partnership with Christie’s exemplifies how technology can enhance the experience for collectors, providing a secure, digital way to manage physical assets.” 

Trevor Traina

The auction features works by renowned photographers, including Diane Arbus and Cindy Sherman, with Kresus’ blockchain certificates highlighting how art ownership is evolving into the digital age.

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Altcoin

Ethereum and TRON control 84% of stablecoin market, CoinGecko says

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Data gathered by CoinGecko reveals that Ethereum and TRON dominate the stablecoin market, holding a combined $144.4 billion, or 83.9%, of all stablecoins.

Blockchain networks Ethereum and TRON continue to dominate the stablecoin market, holding a combined share of nearly 84%, valued at $144.4 billion as of September.

According to estimates from crypto price aggregator CoinGecko, Ethereum leads with $84.6 billion, or 49.1% of the total stablecoin supply, while TRON follows closely with $59.8 billion, accounting for 34.8% of the market.

Total market cap of stablecoins by blockchain | Source: CoinGecko

Despite Ethereum’s stablecoin supply increasing by $17.2 billion in 2024, its market share declined due to the collapse of Terra’s stablecoin UST, the onset of the bear market, and the proliferation of layer 2 solutions during that time, the report reads.

TRON’s dominance stems from the strong demand for Tether (USDT), which constitutes 98.3% of the stablecoins on the network. However, its market share fell from 37.9% earlier in the year despite a 21.6% supply increase.

Stablecoins reshape global finance landscape

BNB Chain (formerly BNB Smart Chain), ranked third, has seen its share drop to 2.9% following regulatory challenges around Binance USD (BUSD), which reduced the chain’s stablecoin supply by 61% since May 2022. Meanwhile, emerging blockchains like Coinbase’s Base, which grew its stablecoin supply by 1,941.5% in 2024, are gaining ground, indicating a diversifying stablecoin landscape.

Adjusted stablecoin transaction volume settled by network, monthly | Source: Castle Island Ventures

Stablecoins are playing an increasingly central role in global finance, having settled $3.7 trillion in transactions in 2023 and projected to reach $5.28 trillion by the end of 2024. As crypto.news reported earlier, data gathered by Castle Island Ventures and Brevan Howard Digital revealed growing usage of stablecoins beyond exchange settlement, particularly in emerging markets where they are being used for savings, currency conversion, and yield generation.

Having surveyed over 2,540 crypto users across Nigeria, Indonesia, Turkey, Brazil, and India, researchers found that while trading crypto or non-fungible tokens remains the most popular use for stablecoins, non-crypto purposes are not far behind.

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Altcoin

Crypto losses to hacks surpass $120m in September, PeckShield says

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Crypto hacks in September resulted in over $120 million in losses, with the top incidents targeting platforms like BingX, Penpie, and Indodax.

The crypto space has surpassed more than $120 million in losses in September due to more than 20 hacks, down 61.76% from August, according to data from blockchain forensic firm PeckShield.

In an X post on Oct. 1, PeckShield reported that BingX, a Singapore-based cryptocurrency exchange, was hit the hardest with over $40 million in losses, followed by Penpie at $27 million, and Indodax, which lost over $21 million. Other incidents included DeltaPrime, which saw $5.98 million stolen, and Truflation with $5.6 million in losses.

A phishing attack targeting $spWETH signatures resulted in an additional $32.4 million drain, though these figures were excluded from the overall tally. Partial funds were returned in the Shezmu hack, which saw $4.9 million stolen. Smaller hacks also impacted Onyx, BananaGun, Bedrock, and CUT, with losses ranging from $1.4 million to $3.8 million.

Over $400m lost in Q3

Despite the significant losses, the overall damage from crypto hacks was markedly lower compared to August, when the industry lost over $300 million worth of crypto in just 10 different incidents. In total, the crypto space saw a loss of nearly $413 million in Q3, per the latest report from web3 bug bounty platform Immunefi.

Data reveals that more than $409.9 million was lost to hacks across 31 specific incidents, and $3,087,552 was lost to fraud across only three specific incidents. Most of that sum was lost by two specific projects: WazirX, India’s crypto exchange, which suffered an attack that resulted in $235,000,000 lost, and BingX.

Analysts at Immunefi say that centralized finance was the main target of successful exploits at nearly 75% as compared to decentralized finance at 25.2% of the total losses. The most attacked blockchain network was Ethereum, with 15 incidents, followed by BNB Chain (formerly Binance Smart Chain) and Coinbase’s network Base.

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Altcoin

Coinbase’s Base smart contracts contain over 34k vulnerabilities, data shows

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Base network saw over 34,000 high-risk vulnerabilities in its smart contracts, including malicious boolean checks and library tampering, according to new data.

Blockchain networks face growing security challenges as malicious actors exploit vulnerabilities in smart contracts, with Coinbase’s Base network leading in high-risk detections.

According to data from Trugard Labs, which identified risks using its Xcalibur tool, Base accounted for more than 34,000 high-risk detections in its smart contracts during August.

The Coinbase-incubated network was particularly susceptible to Digital Signature issues, with nearly 22,000 detections related to tampering in standard libraries like SafeMath. Malicious boolean checks on token transfers also posed significant risks, with over 6,300 instances identified on Base. These checks could block or manipulate token transfers, presenting a key vulnerability.

High risks identified across blockchains in August | Source: Trugard

Web2 hackers turn to web3

Trugard Labs identified several other major threats across the Base network, including unauthorized token burns, balance updates, and controlled minting attacks. Hidden balance updates and minting manipulations were also detected across Ethereum and BNB Chain (formerly Binance Smart Chain, BSC), though in smaller numbers.

Cross-chain comparison Top by risk share | Source: Trugard

The surge in malicious activity on Base underscores the vulnerability of protocols deployed on the network to exploitation, as cybercriminal groups that once operated in web2 “have now shifted focus to the burgeoning web3 ecosystem,” analysts at Trugard say.

As the decentralized finance sector grows, so does its appeal to threat actors. In the past, web2 criminals specialized in phishing, ransomware, and exploiting vulnerabilities in centralized systems. Trugard says those same tactics are now being adapted to exploit “vulnerabilities in smart contracts, decentralized finance protocols, and blockchain networks.”

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Altcoin

FRIEND surges 60% as FriendTech dismisses shutdown rumors

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Social media platform Friend.Tech says it has no plans to shut down its web app, reassuring users that smart contract changes will not impact current functionality or fees.

Web3 social media platform Friend.Tech has reassured users that it has no plans to discontinue its web app, following concerns that recent changes to its smart contracts might signal a shutdown.

In a Sept. 10 post on X, the platform’s developers confirmed that the app will continue to function as usual and that there will be no impact on current operations or the introduction of new fees due to the changes made to its Base-based smart contracts.

The statement comes after Friend.Tech appeared to be effectively shuttered on Sept. 8, when developers transferred control of the platform’s smart contracts to Ethereum‘s null address, basically locking the system in place, preventing future updates to the platform.

Launched in August 2023, Friend.Tech quickly gained traction by allowing users to purchase “keys.” Their holders get access to closed channels and exclusive content. After registration, platform users can start selling their shares to other participants or buying “keys” to the accounts they are interested in.

The platform experienced a surge in user activity early on, with daily earnings even surpassing Ethereum’s at one point. The model, which allowed users to trade keys to access private feeds, created a unique monetization avenue for influencers in the web3 space.

However, user activity has declined since its peak, and the platform has struggled to maintain momentum. Despite these challenges, Friend.Tech emphasized that while no new features will be introduced due to the contract changes, the platform will remain fully operational. The reassurance has positively impacted the platform’s native token, (FRIEND), which soared by 60%, reaching $0.097 following the statement.

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Altcoin

Base leads as Ethereum L2 transactions hit an ATH of 12.5 million

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Ethereum layer-2 networks recorded an unprecedented 12.52 million transactions, setting a new all-time high.

According to data from growthepie, this peak, recorded on Aug. 13, surpasses the previous record of 11.5 million transactions set on April 4. After a dip in activity between late April and early June, the transaction count rebounded in mid-June, sustaining a high volume despite market uncertainties.

Leading the charge among Ethereum (ETH) L2s is Coinbase’s Base, which accounted for a substantial 3.98 million transactions on the ATH day. Base’s performance is impressive, given that it is relatively new, having launched just over a year ago. 

Meanwhile, Arbitrum One followed closely, with 1.79 million transactions on Aug. 13. Notably, Base and Arbitrum One were the only networks to record transactions above the 1 million mark yesterday. OP Mainnet, the third on the list, saw 487,820 transactions, while Linea witnessed 409,520 transactions, securing the fourth spot.

In addition to the surge in transaction counts, the stablecoin market cap on Ethereum L2s has grown significantly, reaching $9.69 billion. 

However, despite the increase in transactions and stablecoin market cap, the fees paid by users have seen a dramatic decline. On Aug. 13, users paid only $171,514 in fees, a slump from the $4.2 million peak recorded on March 5. 

Data shows that the 96% drop suggests that while activity on L2 networks is increasing, the cost to users is decreasing, particularly during periods of market volatility. Cumulative active addresses on these L2 networks have also declined 16.23% over the past week to 5.29 million unique wallets.

Moreover, the six leading Ethereum L2 networks — Base, Arbitrum One, Linea, OP Mainnet, Scroll, and zkSync Era — saw varying performance metrics regarding active wallet addresses and cross-chain activity.

As the current front-runner, Base recorded 3.25 million weekly active addresses though only 9.1% of its activity was cross-chain. Despite being nearly three years old, Arbitrum One maintained its strong position with 1.11 million weekly active addresses.

Linea, a one-year-old ZK Rollup, saw solid growth with 493,570 weekly active addresses. Notably, 43.6% of its activity involved multi-chain transactions. Meanwhile, Optimistic Rollup OP Mainnet witnessed 315.32K weekly active addresses. 

Although still in its infancy at nine months, Scroll attracted 272,290 weekly active addresses, with 61.4% of its transactions involving multi-chain activities, the highest among the top six L2s. zkSync Era, another ZK Rollup, recorded 261,260 weekly active addresses.

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Phân tích

Brett token price rises 12%; analyst sees another 30% upside

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Brett, the biggest meme coin in the Base Blockchain, rose by over 12% on Friday as sentiment in the crypto and stock industries improved.

Brett (BRETT) token rose to $0.133, up 31% from its lowest swing this month. Some traders believe that the meme coin has more upside going forward.

Analyst is bullish on Brett

In an X post, Michael van de Poppe, a trader with over 721,000 followers, noted that he was optimistic that the token would rise to $0.1712, a 30% increase from Friday’s trading level.

If he is correct, Brett’s market cap will pass Floki (FLOKI), which has a market cap of $1.7 billion. 

Brett’s rebound happened as the Bitcoin 2024 conference kicked off today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he was a big supporter of Bitcoin (BTC).

The event’s main headliner will be Donald Trump, who is leading in most polls, including in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are torn about whether he will announce a Bitcoin reserve at this event. 

Base Blockchain is doing well

Brett token also rallied as the Base blockchain ecosystems continued doing well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the 6th biggest chain in the industry. It has passed popular networks like Cardano (ADA), Avalanche (AVAX), and Polygon (MATIC).

At the same time, Brett and other altcoins jumped as the US stock market rebounded, signaling that investors have embraced a risk-on sentiment. The Dow Jones index rose by over 600 points, while the S&P 500 and Nasdaq 100 jumped by over 80 basis points. 

Brett price chart | Source: TradingView

Technically, Brett has formed a morning star pattern, which is a popular reversal sign. In the past, the token rose by double-digits when it formed this pattern. For example, it formed on July 12 and then rose by 40%. 

On the flip side, this rebound could be a dead cat bounce, where an asset rises briefly and then resumes the bearish trend.

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Theo Crypto News

Phân tích

Here’s why Base tokens like Brett, Basenji, and Degen are surging

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Meme coins on the Base Blockchain were some of the best performers on Wednesday as cryptocurrencies rebounded. Brett, the biggest token in the ecosystem, surged by over 18%, pushing its market cap to nearly .5 billion. 

Basenji (BENJI) was a big gainer Wednesday morning, more than doubling in value while Degen lagged behind but still notably higher by 35%. The strong gains can be attributed to a more positive sentiment in the crypto universe as Bitcoin reclaimed the ,000 level. In most cases, altcoins and Bitcoin are positvely correlated.

The other possible reason why these tokens are soaring is that the Base Blockchain ecosystem is thriving. Data shows that the network’s total value locked (TVL) has rebounded to .45 billion, making it the 7th-biggest platform in the industry after Ethereum, Solana, Tron, BSC, Arbitrum, and Blast. 

Most dApps in the ecosystem recorded inflows on Wednesday, with Uniswap, AAVE, and UNCX Network leading the way. The network also welcomed Morpho, a DeFi network with over .8 billion in assets.

Brett gains further recognition

Brett benefited from an encouraging announcment as its perpetual futures are now listed on Kraken, one of the biggest exchanges in the world. Most cryptocurrencies tend to rally after being listed by a leading exchange like Kraken or Binance. Brett was also listed by CoinDCX, a leading Indian exchange.

Therefore, the ongoing assumption is that these and other crypto exchanges will also list Basenji and Degen.

Brett and Basenji are meme coins that aim to replicate the success of other popular tokens in Ethereum and Solana. Degen, on the other hand, is a blockchain network that rewards users for posting content. It has over 465k holders and has handled over 6 million transactions.

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