Last weekend, as the Base ecosystem continued to be hot, the hype of "meme hot money" gradually penetrated into "Coinbase ecosystems" such as Zora and Degen. On the popular Base social platform Warpcast, the meme tokens of Zora and Degen Chain have been hyped up.
On March 28, according to official news, the Base ecosystem Meme project Degen announced the launch of the low-cost Layer 3 blockchain Degen Chain. The network is built with Arbitrum Orbit and AnyTrust DA, and the settlement layer is Base. The native Gas token of Degen Chain is DEGEN. Syndicate becomes the Layer 3 infrastructure partner of Degen Chain. As soon as the news came out, DEGEN rose by 37% in 24 hours and is now quoted at 0.02035, setting a new record high again.
In the following days, DEGEN continued to rise. On April 1, DEGEN briefly broke through $0.06, a 3-fold increase from a week ago, and the hype of the Degen Chain ecosystem followed. Over the weekend, Degen Chain ecosystem tokens generally rose, among which Degen Ecosystem DEX platform DegenSwap token DSWAP rose 465% in 24 hours, Meme token DINU rose 194% in 24 hours, and PURP rose 67% in 6 hours. According to Dexscreener data, Degen Chain achieved a daily trading volume of over $80 million in less than a week after its launch, with 270,000 transactions in 24 hours.
The Zora ecosystem also attracted attention. Its meme coins also saw a general rise over the weekend. Projects such as Imagine and ENJOY saw intraday gains of no less than 3 times.
IMAGINE is the first permissionless collector token on Zora, which aims to support and encourage art collectors and creators within the Zora ecosystem with economic incentives. ENJOY is the first meme token on Zora, which was airdropped by the community to eligible community users in early March. The conditions for the first season of airdrops include the top 500 active Zora creators and about 10,000 active Zora collectors. Of course, the distinguished Warpcast OG NFT holders are also on the airdrop list.
In addition to these two projects, a meme token called HIGHER is also very eye-catching. The project started from a community channel on Warpcast and aims to contribute more to Zora and artists in its ecosystem. After completing fundraising and airdropping HIGHER tokens to channel members, core community members created a Party Wallet for it and raised $70,000 for initial LP.
According to official documents , the uses of HIGHER tokens include: obtaining Dao membership, opportunities to hype HIGHER IP, and potential incentive opportunities in the future ecosystem. Holding 1 HIGHER token can become a member of Higher, and the HIGHER community is a decentralized autonomous organization. So far, HIGHER tokens have achieved a 10-fold increase in the past week.
In fact, in the past few months, the Zora ecosystem has been quietly changing, gradually changing from a "ZORA ball mint chain" to a "literary hype chain", which became more obvious after the Base ecosystem meme craze started.
On December 16 last year, Worldcoin announced the launch of collectibles based on the NFT infrastructure platform Zora to commemorate and celebrate the launch of World ID 2.0. Users can mint the collectibles for free on Zora before January 12. This seems to be another ordinary "ZORA ball" mint, but since then, the number of active addresses in the Zora ecosystem has begun to increase.
In early February this year, the Uniswap community voted to pass the temperature check voting proposal to "deploy Uniswap V3 on the Ethereum L2 network Zora Network". The arrival of Uniswap has greatly enhanced the "financial attributes" of the Zora ecosystem. By early April, according to Dune data, the number of Zora mainnet addresses had reached 470,594, the bridged ETH reached 6,824, and the number of network transactions continued to rise. So far, a total of nearly 29 million transactions have been processed.
It is foreseeable that as more hot money comes to the Base ecosystem, the hype about the "Base Season" will continue, and the Degen and Zora ecosystems may become the two major beneficiaries of this wave of hype.
