Memecoins
Solana vs. Basic Memecoins | Without a bank
Solana vs. Basic Memecoins
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MUST KNOW
ETH Nears $4,000
- 4️⃣ ETH is approaching $4,000. After a somewhat muted market response to the ETH ETF approvals, the asset is quietly moving towards the key marker.
- 🙉 JPMorgan doubts Solana ETF. While the approval of the Ethereum ETF was seen as potentially opening the floodgates to other assets, a report from JPM suggests that near-term approval is unlikely.
- 🗳️ Trump promises pardon to Ross Ulbricht. In an appeal to Libertarian Convention attendees, Trump promised to pardon the founder of the Silk Road on his first day if he is re-elected.
ANALYSIS
Can the base challenge Solana’s Memecoins?
The return of Solana has been the story of this cycle so far, with the network growing thanks to technological improvements, lucrative airdrops and, most notably, memecoins.
Memecoins have evolved from an unserious, short-lived asset class to a forward-looking alternative to low-float, high-FDV tokens that don’t leave enough upside for retail.
Today, most memecoin activity takes place on Solana, although activity continues to migrate to L2 ETHs like Arbitrum and Base. The base has been particularly busy lately. Although the Coinbase-incubated L2 shows promise of becoming a meme hub, activity on Solana continues to dominate and remain within its ecosystem.
Can Base compete with Solana in the memecoin arena?
In this article, we will examine the current status of these platforms, their capital flows, and major projects to assess what makes Solana the memecoin capital and how Base compares to it.
Discover the ecosystems👇
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