The first “crypto native degens” to use Base had a surprisingly large allocation to memecoins.
Nansen – a blockchain market intelligence firm – released a report on Tuesday analyzing how the earliest whales to onboard Coinbase’s layer 2 blockchain – Base – are using their money.Early whales largely allocated to Ethereum and its layer 2 networks. As of August 7, the most value held by these whales was on Ethereum itself, followed by Base , Arbitrum, and Optimism.
Regarding tokens, ETH was the most common holding at $11.6 million. Beneath it were relatively large memecoin allocations, including Bald at $2.7 million , UNIBOT , andSome of the most common entities these whales are interacting with include commonly used decentralized exchanges, such as Uniswap and 1Inch.Nansen. Much like token and chain allocation, protocol usage tends to congregate around a few “trustworthy” DeFi apps.
The analysis pertains to whales who bridged assets to Base before its official launch this week, meaning they had to access the ecosystem without a prepared front-end.“In reviewing the landscape of Early Base Bridgers, it’s evident that the crypto-native segment is actively engaging with the BASE platform even prior to its official launch,” concluded the report.
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