Franklin Report: Driven by Meme coins and SocialFi applications, the activity of Base network has significantly increased in recent months

PANews reported on May 10th that Franklin Templeton stated in its Base Season report that the activity of Base has significantly increased in recent months, mainly driven by Base Meme coin trading activities and SocialFi applications such as Friend.Tech. During this period, the supply of USDC on Base also increased substantially, reaching over $2.5 billion by December 2023, after Coinbase announced free transfers of USDC using the Coinbase wallet on Base. Base has achieved great success in the SocialFi field with multiple top-tier cryptocurrency-based social applications built upon it.

The report wrote that currently, about 46% of all transactions related to SocialFi are conducted through Base. This category is a key area for observing adoption and growth of Base. With support from the Coinbase platform, Base possesses a strong portfolio of SocialFi applications and direct integration with Coinbase users which enables it to capture a large share of SocialFi activities and continue to be a leader in Ethereum's L2 field in future.