According to BlockBeats, the price of AERO broke through $1.9 last night, and the Total Value Locked (TVL) in the Base ecosystem also surpassed $4 billion. On April 6, the number of daily transactions on Base reached a record high of 2.44 million. Moreover, since March 14, the Base network has maintained a daily transaction volume of over 1.1 million.
The first wave of user growth for the social protocol Farcaster occurred in early February 2024, when Warpcast, Farcaster's largest frontend protocol, launched a new feature called Frame, which added a lot of interactivity to the social application. At the same time, meme coins related to Farcaster concepts such as DEGEN, FAR, and FRAME attracted a group of people who were not yet Farcaster users to register accounts. However, as the market cooled down, the hype about Farcaster gradually subsided. But in early March, after the Cancun upgrade was implemented, the activity in the Base ecosystem surged, with meme coins led by DEGEN injecting a second wave of vitality into Base and Farcaster.
A few days ago, Warpcast updated its in-app features again, introducing the Actions feature, which can be used to add functions that are not part of the core Farcaster protocol. The founder of Warpcast likened it to a 'Chrome extension for social applications'. The Actions feature is located near the favorite share bar under each post, and it contains small features that can further promote the tip culture. Users are not limited to using DEGEN for rewards, they can also use features such as checking FID and giving Warps to enhance the user experience of Warpcast.
In addition to the positive changes within the application, the activities on the Base and Zora chains, which Farcaster relies on, cannot be ignored. Thanks to Frame's interactive features and the long-term cultivation of creator culture, Farcaster has become the 'launch platform' for Base and Zora, with many popular projects being nurtured and born here.
On March 28, Degen announced the launch of the low-cost Layer 3 blockchain Degen Chain, which pushed the price of DEGEN to a new historical high and sparked a wave of speculation on the Degen chain. There were many discussions about Layer3 in the market last week, with mixed reviews, but Degen was undoubtedly the pioneer and the hottest one. Due to the negligible gas fees and the gradual increase in the deployment of lightweight applications, Lan Lee, a developer at Degen China, described the launch of Degen L3 as the 'iPhone moment' of the crypto market, saying it would greatly enrich the on-chain ecosystem.