Base, Coinbase’s layer-2 blockchain, is making waves in both decentralized finance (DeFi) and the non-fungible token (NFT) industries. According to DeFi Llama, Base has become the top-performing layer-2 network, hosting 410 dApps. Key players in its ecosystem include Aerodrome, Uniswap, Morpho Blue, and Moonwell.

Morpho, a competitor to AAVE, is poised for growth after Coinbase announced plans to introduce Bitcoin-backed loans on the platform.
Unmatched DeFi Transaction Volumes
Base’s decentralized exchange (DEX) networks dominate layer-2 transaction volumes. Since its launch, protocols in its ecosystem have processed over $264 billion in transactions, with $12.2 billion in just the past week.

This growth is fueled by Base’s thriving meme coin ecosystem, now valued at $2.6 billion. Popular meme coins on Base include Brett, Akuma Inu, Toshi, and Degen.
Base’s NFT Market Booms
In the NFT space, Base has also taken the lead among layer-2 networks. NFT sales rose 45% in the last seven days, reaching $8.3 million, with buyers increasing by 128% to over 15,000. Cumulative NFT sales now exceed $62 million.

Data from DappRadar reveals that Base processed nearly 40 million transactions in the last 30 days. By comparison, Arbitrum handled 6.21 million, and Polygon processed 29.3 million. Base also boasts 15 million unique active wallets, far surpassing its competitors.

Could Coinbase Airdrop Base in 2025?
The success of Base suggests it could achieve a significant valuation if Coinbase launched an airdrop. For reference:
- Arbitrum has a market cap of $3.2 billion with a fully diluted valuation (FDV) of $7.5 billion.
- Optimism has a market cap of $2.47 billion and an FDV of $7.85 billion.
Base’s valuation could exceed an FDV of $7 billion. Speculation about a potential airdrop is rising as Coinbase’s 2025 roadmap includes plans for decentralization, hinting at community involvement in decision-making.