Nansen Analysis: Strong On-Chain Base Activity Could Dominate the DeFi Market!

Jakarta, Pintu News—Coinbase’s layer-2 network, Base, is predicted to dominate the decentralized finance market and consumer applications in the second quarter.

According to a recent report from blockchain analytics firm Nansen, strong on-chain activity, robust metrics, and a growing user base were some catalysts that signaled Base’s explosive performance in Q2. This suggests that L2 will continue to rise as a core DeFi platform.

Check out the full analysis below!

Base Growth Catalyst

The Nansen report highlights a few key catalysts that will drive Base’s growth in the second quarter. First, the launch of new app chains is expected to add to the total locked value. Second, the impact of the US Securities and Exchange Commission’s withdrawal of the lawsuit against Coinbase provided positive sentiment for investors.

In addition, the growing pro-crypto landscape has also contributed. Nansen analysts believe that with Coinbase’s large network effects and scale, Base is strongly positioned for an on-chain future.

Combining this catalyst with strong on-chain traction in traditional metrics such as total locked value (TVL), stablecoin velocity, and daily active users, illustrates a bullish future for Base.

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Future Development

According to Crypto.news, several anticipated developments will strengthen Base’s growth prospects. Flashblocks, currently active on the testnet and slated for main net launch in Q2, as well as Base’s app chains and smart wallet sub-accounts slated for release in Q2, are prominent developments.

Given current performance, projects such as Virtuals Protocol VIRTUAL1.53%->Current VIRTUAL PriceRp 12.0771.53%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 and Aerodrome Finance AERO4.08%->Current AERO PriceRp 8.4664.08%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 offer potential entry points. Narratives to follow include DeFi meta, gaming, SocialFi, and payments.

Listing on Coinbase and expansion into Solana SOL4.56%->Current SOL PriceRp 2.102.0174.56%Market CapRp 1.672 TriliunTrading VolumeRp 135,64 TriliunCirculating SupplyRp 479.179.305 are key ecosystem milestones. Bitcoin’s BTC1.60%->Current BTC PriceRp 1.357.437.8751.60%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 performance is also important. Analysts suggest that although BTC is still trading in a range, positioning for a potential breakout remains key.

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Projects and Tokens in the Ecosystem

Although Base still lacks a native token, analysts see meme coins and tokens related to artificial intelligence as some of the assets that will likely provide directional exposure to L2.

Given current performance, projects such as Virtuals Protocol (VIRTUAL) and Aerodrome Finance (AERO) offer potential entry points. Narratives to follow include DeFi meta, gaming, SocialFi, and payments.

Listing on Coinbase and expansion into Solana (SOL) are key ecosystem milestones. Bitcoin’s (BTC) performance is also important. Analysts suggest that although BTC is still trading in a range, positioning for a potential breakout remains key.

Conclusion

With strong catalysts and anticipated developments, Base is set to become a dominant player in the DeFi and consumer applications markets. Nansen’s report provides insight into how these factors may shape Base’s future, promising significant growth in the second quarter.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Base on Chain Activity and Future Catalysts Point to Q2 Growth – Nansen. Accessed on March 13, 2025
• Featured Image: Crypto Economy