The Base ecosystem is recovering and the 2024 goal has been quietly achieved.
Written by: shaofaye123, Foresight News
Recently, all AI tokens in the Base ecosystem have generally risen, with VIRTUAL rising 37% in 24 hours; LUNA rising nearly 25% in 24 hours; AIXBT's market value reaching a maximum of US$200 million; SEKOIA and GAME by Virtuals (GAME) rising more than 100% in 24 hours, with a strong wealth-creating effect. Net capital inflows continue to increase, developer activity is also steadily improving, and the ecosystem performance is quite impressive. This article will take a look at the situation and changing trends of developers, ecology, and capital markets of the Base network this year from a data perspective.
Roadmap for early 2024
In January this year, Base released its 2024 strategy and roadmap, which regards Base as an economy consisting of three parts: developer platform, application ecosystem and capital market, and builds around it. It aims to accelerate decentralization while improving network availability, reducing fees across the board, setting smart wallets as default settings, simplifying on-chain, and introducing Coinbase on-chain. As the end of the year approaches, Base has once again attracted attention from all parties with its AI agent. The 2024 annual roadmap seems to have been quietly completed.
Developer activity is growing steadily
On-chain developers are crucial to public chains. 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 diversify applications, and are the source of value for public chains. Active developers can bring innovation to the ecosystem. The prosperity of the ecosystem will attract capital inflows, thus achieving a positive flywheel.
At the beginning of the year, Base listed on-chain developers as an important part of the three components of the economy. As of July 2024, according to the Developer Report data, the average monthly number of active developers on the Base chain reached 3,991, and the number of full-time active developers was nearly 900, second only to Ethereum, an increase of 52%, the fastest growth among all block networks, and the second largest developer active network in the entire public chain market.
Image source: https://www.developerreport.com/
In addition, Base has many incentives for developers. As a standardized EVM, developers can also deploy contracts more easily to increase on-chain activity. According to Dune (@sixdegree), the number of contracts created on the Base network is growing steadily each month.
Image source: https://dune.com/sixdegree/base-blockchain-overview
The ecosystem is becoming increasingly rich
The Base ecosystem has DeFi but it is never limited to DeFi. 66% of its active on-chain applications are non-DeFi. Base network applications have performed extremely well in the fields of NFT, social, and AI.
Recently, all AI tokens in the Base ecosystem have generally risen, which has a good wealth-creating effect. SEKOIA and GAME by Virtuals (GAME) rose by more than 100% in 24 hours. At the same time, the transaction volume on the Base chain has also ushered in rapid growth. According to Dune data (@watermeloncrypto), the transaction heat reached a new peak of 11.44 million on November 26. Compared with the beginning of 2024, the number of transactions has increased 42 times, and its transaction activity undoubtedly demonstrates the infinite development potential of Base.
Image source: https://dune.com/watermeloncrypto/base
In addition to the increase in the number of transactions, user activity has also increased significantly. According to Dune data (@watermeloncrypto), the weekly active addresses on the Base chain have surged from 300,000 in January to 6.57 million in November, and reached an all-time high of 7.19 million on October 7, an increase of more than 2000% so far. .
Image source: https://dune.com/watermeloncrypto/base
Capital market funds continue to flow in
As the ecosystem becomes more popular, capital markets continue to flow in. According to L2BEAT data, as of November 29, Base's total locked value (TVL) has surpassed Optimism, becoming the second largest L2 network, second only to Arbitrum.
Image source: https://l2beat.com/scaling/summary
According to Token Terminal data, Base has also been growing steadily in terms of revenue, with revenue continuing to increase from September to date.
Image source: https://tokenterminal.com/
In addition, it is worth noting that according to Artemis data, Base’s net capital inflow has surpassed Solana in November 2024, and the monthly inflow rate is also increasing. The continuous inflow of funds into the Base chain reflects that its ecosystem is still on the eve of an explosion.
Image source: https://app.artemis.xyz/home
Conclusion
At the beginning of 2024, Base made a mission: to build a global on-chain economy that promotes innovation, creativity, and freedom. Recently, Base has continued to grow in terms of developer activity and ecosystem richness, and the flow of funds has become faster and faster. Judging from various data, Base is moving forward steadily.
