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Uniswap dominated the Base blockchain with an 85% share of users on June 17th, fueled by a surge in trading activity of meme coins.
Introduction
The recent spike in trading of meme coins on the Base network has significantly contributed to its rapid adoption and growth. With Coinbase-backed Ethereum layer-2 network Base setting new records for daily active users on decentralized exchanges (DEX), it has emerged as a key player in the crypto space.
Main Points
Meme coins frenzy has been a major driving force behind the surge in trading activity on the Base network, positioning it as a leading platform for meme coin projects and speculation. Uniswap led with an 85% user share, followed by PancakeSwap, Aerodrome Finance, and SushiSwap. The Base-powered DEXs have surpassed BNB Chain in active users, trailing only Solana in terms of user base.
The trading volumes on Base have seen a notable increase due to the popularity of meme coins like DEGEN and BRETT. While Base’s total DEX volume in March was $1.2 billion, it has slightly decreased, with a daily trading volume of over $298 million recorded on June 17th. Uniswap dominated the daily volume, accounting for 81.1% of the trades, with PancakeSwap and Aerodrome Finance contributing 6.6% collectively.
Conclusion
With the growing interest in meme coins and the active trading environment on the Base network, it has become an attractive platform for investors seeking opportunities in the crypto market. The surge in activity on Base showcases its potential as a prominent player in the decentralized exchange landscape.
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