Author: shaofaye 123, Foresight News
Recently, the AI tokens in the Base ecosystem have seen a general increase, with VIRTUAL seeing a 37% increase in 24-hour trading volume; LUNA seeing a nearly 25% increase in 24-hour trading volume; AIXBT reaching a market capitalization of up to $200 million; SEKOIA and GAME by Virtuals (GAME) seeing over 100% increases in 24-hour trading volume, demonstrating a strong wealth creation effect. Net capital inflows have been continuously increasing, and developer activity has also been steadily improving, with the ecosystem performing quite impressively. This article will provide an overview of the development, ecosystem, and capital market situation and trends of the Base network this year from a data perspective.
2024 Roadmap
In January of this year, Base released its 2024 strategy and roadmap, in which it views Base as an economy composed of three parts: a developer platform, an application ecosystem, and a capital market, and is building around this. The goal is to accelerate decentralization while improving network usability, comprehensively reducing fees, setting smart wallets as the default, simplifying on-chain processes, and integrating Coinbase into the chain. As the year-end approaches, Base has once again attracted widespread attention with its AI agents. The 2024 roadmap appears to have been quietly completed.
Steady Growth in Developer Activity
On-chain developers are crucial for public chains, as they are responsible for building and deploying smart contracts, decentralized applications (DApps), and other blockchain technology solutions. On-chain developers drive innovation in public chain technology and the diversification of applications, and are the source of value for public chains. Active developers can bring innovation to the ecosystem, and the prosperity of the ecosystem will attract capital inflows, creating a positive feedback loop.
At the beginning of the year, Base identified on-chain developers as an important component of its economic structure. As of July 2024, according to Developer Report data, the average monthly active developers on the Base chain reached 3,991, with nearly 900 full-time active developers, second only to Ethereum, representing a 52% increase, the fastest growth among all blockchain networks, making it the second largest developer-active network in the entire public chain market.
Source: https://www.developerreport.com/
In addition, Base has many incentive measures for developers, and as a standardized EVM, developers can also deploy contracts more conveniently to increase on-chain activity. According to Dune (@sixdegree) data, the number of contracts created on the Base network is steadily increasing each month.
Source: https://dune.com/sixdegree/base-blockchain-overview
Increasingly Diverse Ecosystem
The Base ecosystem has DeFi, but it is not limited to DeFi. 66% of its active on-chain applications are non-DeFi, and the Base network has performed extremely well in the fields of Non-Fungible Tokens, social, and AI.
Recently, the various AI tokens in the Base ecosystem have seen a general increase, with a good wealth creation effect. SEKOIA and GAME by Virtuals (GAME) have seen over 100% increases in 24-hour trading volume. At the same time, the trading volume on the Base chain has also seen rapid growth, with Dune data (@watermeloncrypto) showing that trading activity reached a new peak of 11.44 million on November 26th. Compared to the beginning of 2024, the number of transactions has increased 42-fold, demonstrating the immense development potential of Base.
Source: https://dune.com/watermeloncrypto/base
In addition to the increase in the number of transactions, user activity has also significantly improved. According to Dune data (@watermeloncrypto), the number of weekly active addresses on the Base chain has surged from 300,000 in January to 6.57 million in November, reaching a historical high of 7.19 million on October 7th, an increase of over 2000% to date.
Source: https://dune.com/watermeloncrypto/base
Continuous Capital Inflows
With the hot ecosystem, the capital market has also been continuously flowing in. According to L2 BEAT data, as of November 29th, Base's total value locked (TVL) has surpassed Optimism, ranking as the second largest L2 network, second only to Arbitrum.
Source: https://l2beat.com/scaling/summary
According to Token Terminal data, in terms of revenue, Base has also been steadily growing, with revenue continuously increasing from September to the present.
Source: https://tokenterminal.com/
Additionally, it is worth noting that according to Artemis data, Base's net capital inflows in November 2024 have surpassed Solana, and the monthly inflow rate is also continuously increasing. The continuous inflow of capital to the Base chain reflects that its ecosystem is still on the verge of an explosion.
Source: https://app.artemis.xyz/home
Conclusion
At the beginning of 2024, Base set a mission: to build a global on-chain economy that promotes innovation, creativity, and freedom. Recently, whether in terms of developer activity or ecosystem richness, Base has been continuously growing, and the capital inflow rate is also accelerating. Based on the various data, Base is steadily moving forward.
