48X Surge in TVL on BALD Meme Coin Frenzy Sees Crypto Market Rebound


Crypto.news – The Total Value Locked (TVL), on the Base Layer-2 platform based on Ethereum, has seen an increase in interest due to the BALD meme. On July 30th, the Base platform’s TVL stood at $46.18 million, surpassing competitors Mantle and Apex Polygon’s zkEVM, which had a TVL of $56 million.

The BALD meme coin, inspired by Coinbase (NASDAQ:COIN) Founder Brian Armstrong, has been a major factor in driving up the number of transactions on Base. Since launching on July 29th, BALD prices have risen by more than 4,000,000% to $0.063 and has a market cap of over $45 million. The fear of missing out has led to many users investing in BAL in hopes of making quick gains.

This influx of money has in turn spurred interest in the Optimism Mainnet. On July 30th, Optimism Mainnet’s TVL was at $2.92 billion, close to the figure for the Base platform, which is powered by the roll-up technology anchoring the Optimism Mainnet.

Fans of meme coins should be cautious when connecting to them, despite their popularity and fast growth. Trading BALD meme coins is a great way to get the word out, but those who blindly engage can lose money. They can still connect manually by sending funds to an official contract address. The performance of BALD ahead of the Base’s official launch in August is being closely monitored. It is yet to be determined if the BALD frenzy can subside.

Ethereum’s Layer-2 transactions are cheaper than those on the mainnet. Their scalability and low costs are attractive to users and projects, such as Arbitrum and Optimism Mainnet. Recently, Worldcoin airdropped its WLD tokens through Optimism Mainnet, resulting in transaction numbers surpassing Arbitrum’s, and in a pump in TVL.

This original article was published on Crypto.news.

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