According to blockchain analytics firm Nansen, layer -2 network by Coinbase, may dominate the market of decentralized finance and consumer applications starting in the second quarter.
Nansen Latest report On-chain activity, strong matrix, and some catalysts on a mounting user base indicate highlights that indicate potential explosive performance for the base in Q2.
This suggests a continuous increase of L2 as a core DEFI platform. Beyond leading the next generation of consumer applications, the tailwind shines a spotlight on heading ecosystem projects and tokens in the next quarter, including the choice of virtuals protocol (virtual) and aerodrome finance (AERO).
Q2 The strong catalyst for Aadhaar, the possibility of further locking the total value, has also been abandoned by new app-chains, the impact of US Securities and the Exchange Commission, the coinbase and the growing supporter-crypto landscape.
Nansen wrote in his report, “The base is a direct bet of the coinbase on an onchain future and, given the big network effect and the scale of the coinbase, we see Aadhaar strongly deployed.”
Combining these catalysts with strong on-chain traction in traditional matrix, such as TVL, stabilcine velocity, and daily active user, paint a rapid future for the base. These matrix developers reflect activity, roadmap and funding, which is part of a compelling story for the development of the base.
Nansen analysts see this “series status” that sets a different base from other L2S.
further developments
Flashblock, currently stays on testnet and set up for a mannet launch in Q2, as well as the base appchains and smart wallets are determined for release in sub-rigging Q2, there are notable development that strengthens the development approach to the base.
While the base still has no indigenous tokens, analysts look at memecoin and tokens associated with artificial intelligence as some assets are likely to offer directional risk for L2.
Projects like virtual, aero and others offer potential great entry points given their current performance. Stories to see include Defa Meta, Gaming, Social and Payments. Listing on the coinbase and expansion in Solana are also major ecosystems milestones. Bitcoin (BTC) performance is another.
“With BTC still trading in a limit, we are not in the crowd in Altcoin trades on time -time, but the situation is important for a possible breakout. If the speed changes, the base-country property can be much better, ”analysts said.
