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That’s why Base tokens like Brett, Basenji, and Degen are rising
Meme coins on the Blockchain Base were among the best performers on Wednesday as cryptocurrencies rebounded. Brett, the largest token in the ecosystem, rose more than 18%, pushing its market capitalization to nearly $1.5 billion.
Basenji (BENJI) gained heavily Wednesday morning, more than doubling its value, while Degen lagged behind but is still up a notable 35%. The strong gains can be attributed to more positive sentiment in the cryptocurrency universe as Bitcoin regained the $65,000 level. In most cases, altcoins and Bitcoin are positively correlated.
The other possible reason why these tokens are soaring is that the Base Blockchain ecosystem is thriving. The data shows that the network total value blocked (TVL) rebounded to $1.45 billion, becoming the seventh-largest platform in the sector after Ethereum. SolanaTron, BSC, Arbitrum and Blast.
Most dApps in the ecosystem saw inflows on Wednesday, with Uniswap, AAVE and UNCX Network are leading the way. Even the network welcomed Morphoa DeFi network with over $1.8 billion in activities.
Brett gains further recognition
Brett benefited from an encouraging announcement as his perpetual futures are now listed on Kraken, one of the world’s largest exchanges. Most cryptocurrencies tend to recover after being listed by a leading exchange like Kraken or Binance. Brett was also listed by CoinDCX, a major Indian stock exchange.
Therefore, the current assumption is that these and other cryptocurrency exchanges will also list Basenji and Degen.
Brett and Basenji are meme coins that aim to replicate the success of other popular tokens in Ethereum and Solana. Degen, on the other hand, is a blockchain network that rewards users for posting content. It has over 465,000 cardholders and has handled over 6 million transactions.