Venture capitalist Arthur Cheong thinks Coinbase’s Ethereum (ETH) layer-2 scaling solution Base is primed to witness a surge in trading volume.
The DeFiance Capital CEO predicts on the social media platform X that on-chain spot decentralized exchange (DEX) volume on Base will flip Coinbase’s centralized exchange (CEX) volume “within six to 12 months.”
“Makes logical sense when you think about it, and it all comes together with the DeFi (decentralized finance) Renaissance thesis.”
Cheong believes Base is “the future of Ethereum.”
He also sees the DeFi sector surging alongside memecoins.
“Am I the only crazy one to think both DeFi Renaissance and memecoins supercycle can happen together?”
Base recently surpassed Arbitrum (ARB) to become the top Ethereum layer-2 scaler in terms of total value locked (TVL), according to the decentralized finance data aggregator DeFi Llama.
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.
Base currently clocks $2.45 billion in TVL, compared to $2.404 billion for Arbitrum. The only projects that register more TVL than Base are BSC (Binance Smart Chain), Solana (SOL), Tron (TRX) and Ethereum itself.
Coinbase launched Base last year. The top US crypto exchange says it does not currently plan to issue a network token for the layer-2 scaler.
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